Strategic PMOs play a critical role in successfully executing initiatives
Strategic initiatives are essential to success in today’s increasingly complex business world, yet 44% of initiatives fail in implementation. This inaugural series reveals the critical role of PMOs: to serve as enablers of strategic change in any organization.
All strategic change happens through programs and projects. Projects and programs by their very nature create change. How you manage the impact of change is a key component to realizing of the strategic benefits of your project
Complexity in project management
Organizational Methodology: –
Organizations are learning the value of customizing project, program and portfolio management processes to fit their specific objectives, practices and environments.
Creating such a documented approach, called a methodology, allows the organization to standardize its project management practices company-wide and to increase the effective and efficient use of resources. In turn, the organization can focus on the important tasks—leading, innovating and delivering products and services.
A methodology usually incorporates and integrates:
- Knowledge about the way in which an organization conducts its business, including requirements and processes.
- Portfolio Management
- Requirements Management Knowledge Center of Excellence
- Good requirements management ensures benefits realization
- As the global environment becomes more complex, the pressure is on to deliver the right results. You can’t afford failures caused by poor or inaccurate requirements.
- However, our latest Pulse of the Profession® research has some startling findings for organizations:
- Only 49 percent have the resources in place to do requirements management properly;
- Only one-third say that their leadership values requirements management as a critical competency for projects and strategic initiatives; and
- 53 percent fail to use a formal process to validate requirements in an unbiased way.
- When properly implemented and supported, the critical competency of managing requirements enables you to exceed stakeholder expectations, improve performance, meet expected project benefits and achieve tangible business outcomes.
- Use the resources in the Knowledge Center to improve your requirements management capabilities and maturity, and your project or program success.
- Key aspects of culture and capabilities, as well as environment, industry sector and operational context.
- Excellence in Engineering Program Management