PMO is referred as a Portfolio or Program or Project Management Office. PMO maintains the standards and processes and acts as a central structure to provide assistance to change, transformation and delivery initiatives. PMO establishes better continuity and maintenance of standards throughout the program/project remit and introduce economies of repetition in the execution of projects. It overviews all delivery activity with the organisation and is also known as the “Eyes and Ears of Management”.
Key Functions of a PMO
- Development of project management, best practices, standards, policies, procedures and templates
- Coaching, mentoring, training and oversight
- Monitoring and reporting on active projects and portfolios to top management
- Participant in strategic project management and tends to be a facilitator or actively owns the project management process
- Supports the program/project teams in running day to day project activities
- Acts as a central control for resource management including capability development and demand/Supply planning