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Is not about the PMI or others. Is about Business Administration. Decide to open a new business unit (a PMO) is a matter of strategy not about project management. For this reason there is nothing to state inside project management standards.
A PMO is a means to an end and not the only means to that end. PMI has sponsored research into PMOs which you can search for on their website.
Brian Hobbs and Yvan Petit have done a fair bit of research into these entities so you could check up on their recent work.
As Kiron and Sergio stated, the PMO is another business unit within an organization. Depending on the setup and maturity of the PMO, a leader may have one foot working "on" the business (understanding vision and strategy, and where tactics are needed to support) and one foot "in" the business (PM processes, resource allocation, tactical planning, etc).
That said, Pete Taylor and Bill Dow also have good books about establishing and managing PMO's.
And just to extend my previous comment writting how it is mapping to PMI. Creating a PMO (a new business unit) is because it is a solution for a business problem. Business Analysis documentation (guides) cover it mainly if you read "needs analysis" knowledge area. After that, usually, a project is started to create the solution (open the PMO) and here is when project management comes into action.
I agree dear Sergio. However I have been working with a colleague who told me that sometimes it is not necesarily to open a new unit, so you can work with the same managers but give them roles of a PMO. So despite this colleague told me that he consider some ideas from PMBOK I could not seen it. So similar to PMBOK, I was wondering how can we make a good assessment to what the company needs and if they require a PMO, ok then how to provide them the best for their purposes. There should be some guide...
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