The Virtual PMO™ — Jump-starting Project Management Efficiency

  Governance   PMO   Program Management   Knowledge Shelf  

It might surprise you to learn that 97% of organizations are only at a Level 2 or below (out of 5 levels) in project management maturity and few have a formal project/program/portfolio management office (PMO). This presents a tremendous opportunity for efficiencies in the area of project management across most organizations. Often, the problem with selling a project management discipline or framework is generating the “aha” moment—the moment in which enlightenment or value is finally realized. Decision-makers want to see the value in implementing something new, and, today, more quickly than ever before. Once they have their “aha” moment, however, they become engaged and eager to learn more. Typically, at this point, the value of something isn’t yet based on a financial calculation; it’s solely driven by benefits. As with most proposals, however, decision-makers want to be convinced quickly of a return on their investment; this changes the analysis from being exclusively benefits driven to a financial calculation as well.

Return on investment (ROI), however, is no longer the only factor to consider—time and opportunity cost calculations are moving to the forefront of the decision-making process. There are few data supporting the positive ROI for investing the time, resources, and money in formal project management or a PMO; …

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