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Next Year’s PMO Budget
It’s budget season, and the emergence of project management offices in recent years has added another piece to the annual puzzle for many organizations. From staffing to travel, here are six key areas that should be considered in the PMO budgeting process.
The autumn season means different things to different people — back to school, the return of football season, falling temperatures, and, of course, the dreaded corporate budgeting process. This time-honored corporate ritual of fiscal estimating based on last year’s funding, next year’s best guesses and a little voodoo magic, is well choreographed for most departments. However in recent years the rise of project management offices (PMOs) has added a new wrinkle to this annual process. The PMO is yet another department with some unique considerations, and often the leaders of the PMO don’t have the luxury of a long-standing budget track record from which to draw upon.
Depending on the charter of your PMO, the core elements to consider when developing the yearly budget can vary tremendously.
- Is the PMO responsible for project management governance?
- Does your group also provide training, staffing, and delivery capabilities for the organization?
- Does the PMO support the entire company? Or just one division?
- Are the systems for project tracking and reporting under …
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