Program Management Office
A Program Management Office (PMO) is a centralized unit within an organization responsible for overseeing and coordinating the execution of multiple projects or programs. The PMO provides governance, standardization, and support to ensure alignment with strategic objectives, effective resource allocation, and successful delivery of outcomes. It establishes methodologies, processes, and tools to monitor and manage project portfolios, promote consistency, and facilitate collaboration across teams. The PMO plays a crucial role in driving efficiency, accountability, and transparency in project management practices, ultimately contributing to organizational success.
Resource optimization and access to best project management practices continue to drive PMO outsourcing
Research by Forrester Consulting indicates that organizations that outsource PMO functions are 50% more likely to adopt innovative project management practices and technologies, as service providers bring expertise and experience from diverse industry sectors and projects.
The same study by Forrester Consulting also found that organizations that engage service providers for PMO management experience a 30-35% improvement in compliance with regulatory requirements and industry standards, as service providers implement robust governance frameworks and controls to ensure compliance.
Organizations that will outsource at least some PMO functions to service providers by 2024
Average cost savings achieved by outsourcing PMO management to a service provider compared to in-house
Reduction in time to value for project delivery when execution is outsourced to specialist service providers
Reduction in project risks for organizations outsourcing PMO management to service providers
