Projects at Work

4 Steps to Building a Successful PMO

Implementing a project management office is a project in itself, subject to the same pitfalls. However, you can improve the success rate of your PMO implementation by following four clearly defined steps.

The failure rate of large information technology projects is legend. Survey results illustrate that about 50 percent of all projects do not meet original budget or schedule estimates and are missing critical scope elements, while an additional 25 percent are abandoned, never reaching completion at all. Yet according to Gartner, world-class organizations enjoy an IT project success rate closer to 90 percent. What is it they know about delivering business value through project management that nearly triples their success rate? Most of them have established successful project management offices (PMOs). In fact, two-thirds of organizations implementing PMOs report that project success rates have…

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