4 Steps to Building a Successful PMO

[ Login/Subscribe ]

Features

Departments

Opinion

Tools

Executive

Resources

About Us

Home > Executive Report > Sponsored Content

4 Steps to Building a Successful PMO
Lisa Sipe, PMP (March 14, 2008)

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 improved significantly as a result.¹

Implementing a PMO 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.

Step One: Establish a Vision.

Please login/register to read the entire article.

Sponsored Announcements and Special Offers

Looking for an easy-to-use PPM solution? Find out why the University of Oklahoma calls Portfolio Intelligence and Three Olive Solution's product "... the best fit for our strategic philosophy for project portfolio management." Take our product tour today!
Training Solutions for the Project Management Professional. Get world-class PM training from University of California, Irvine Extension--a PMI-Registered Education Provider. Master the PM Body of Knowledge (PMBOK) Guide; earn PDUs; prepare for PMP certification; earn transfer credit toward a master's degree at our partner university. Learn More.
The Project Management Institute is accepting online applications for the new PMI Risk Management Professional (PMI-RMP)SM credential. Candidates who take the examination during the incentive period of 29 August – 31 October 2008 will receive 50% off the price of the examination, as well as be entered into one of four regional drawings for $1,000 (USD).

@task
HP
PeoplePM
PMI Risk Management
ProjectWorld
RMC Project Mgmt
Stanford University
University of Calif, Irvine

VIEW NEW WHITE PAPERS

July 2008: Sponsored by PeoplePM

How important are "people skills" in executing projects, and can they be taught?