The continual success of a PMO is related to the PMO constantly demonstrating to the executive that the PMO adds value to the business. Successful completion of projects on time, on budget and within agreed scope are a good measure, but in today’s business environment executives need to know where value is created and benefits achieved.
A recent global survey revealed that executive dissatisfaction and a lack of support is one of the core reasons why the average lifespan of a PMO is just 4 years. Despite this crucial factor, many PMO’s fail because they forget the importance of marketing themselves; constantly demonstrating their value to a business and their overall successes. For a PMO to do this the appropriate structures and measures must be put in place and aligned with corporate objectives. Where the structure and measures are missing, it clearly demonstrates to the executive a lack of business value.
Value creation is only as effective as the associated strategic planning, portfolio alignment and governance.
A clear indication of where these factors are not working is when projects and programs have to fight to obtain executive support and measures of success are limited or non-existent.
Whilst the function of PMOs are varied and should change when the business changes, reporting value to the executive should remain a key focus for any PMO. This also helps to maintain strong relationships with executives and other key business departments. Throughout the lifespan of a PMO – for every project, and especially every success, there should be the constant fostering of executive relations to ensure the continued operation of a PMO.
The use of expert support is an increasingly feasible and accepted solution for a PMO when they are struggling to deliver results or to present adequate value to the executive. This approach can be very effective, as external experts have the broad experience across many PMOs as well as the background to operate at the appropriate level. This can prove vital regarding reinvigoration of a PMO or marketing a PMO’s success.
The PM-Partners group is Australia’s most highly accredited Project and PMO Partner. We are the trusted service provider to Australia’s leading and emerging PMOs. Call us on 1300 70 13 14 for further information.