The Project Management Office (PMO) plays a crucial role in any successful business. From standardizing project management methodologies to helping a company's maturity grow, overseeing and managing various projects across the entirety of a business is a tall order. But with the right Project Management Tool, the PMO will be able to ensure everything is running as smooth as butter, making sure vital KPIs are hit every time.
What exactly is the PMO?
Great question! The PMO is responsible for overseeing and managing projects across the whole organization, either with a hands-on approach or from a higher perspective, such as monitoring KPIs and milestones. The PMO can help lighten the load for executives, taking on the responsibility of juggling multiple high-priority projects at once. Here's a quick overview of some of the PMO's responsibilities:
- Setting up and managing KPIs to ensure that crucial project milestones are met.
- Providing project managers and offering training for team members to feel confident in nailing their targets.
- Overseeing the company's portfolio management, making sure that strategic goals are achieved.
- Taking care of resource management, including managing finances, talent, and locations. Something extremely valuable for smaller teams.
- Guiding the company towards maturity, with extra focus on project management.
Why the PMO Matters
There is a range of benefits that comes from having a PMO in-house. Here are four reasons why a business should get fully behind the idea and support the PMO:
- You'll save money by having a PMO in-house as excess hires and outsourcing will be avoided, and importantly, resources will be better distributed.
- Goals will be aligned across the business, with your PMO guiding the way towards the bigger picture.
- Client satisfaction will be increased as deliverables will be turned around quicker, with project objectives consistently being met.
- Productivity will be improved as teams can focus more on output, knowing that the PMO will keep track of KPIs and manage project frameworks via agile Project Management Tools.
Empowering Your PMO
For your PMO to do the best job it can, Project Management Tools can help keep a complete overview of all the projects currently in motion. Gone are the days of trying to find information across multiple sources; with a Project Management Tool like monday.com, your PMO can find and keep track of everything in one location. Let's see what monday.com can do:
Store all project documentation in one place
Your PMO can organize and manage all relevant documentation for each phase of a project. This also helps to ensure guidelines and standards are met across the whole organization.
Maintain an agile roadmap for every project
There's nothing more time-consuming for a business than losing sight of a project's goal. With monday.com, your PMO can build and maintain a transparent roadmap that can ensure relevant team members stay focused on the task at hand. As an agile tool, the roadmap can also adapt to changes in goals and markets.
Keep track of tasks for each department
For a roadmap to work effectively, goals will need to be broken down into manageable tasks for each department. monday.com offers a transparent overview to show who is working on which task at any given moment and its progress. This also makes your daily/weekly planning meetings run a whole lot smoother.
Manage shared company resources
No company wants to waste resources. Am I right? With monday.com, resources can be tracked, from where they are and for how long they'll last to who is in charge of them. This is extremely helpful when managing budgets and keeping costs down.
Keep a backlog of product features and updates
When planning future product roadmaps and team sprints, it's important to have a backlog of the most urgent and requested features. monday.com allows the team to keep a continuous backlog of tasks to help prioritize what should be worked on next and how long each one should take to be implemented.
Monitor KPIs and budgets in real-time
monday.com gives your PMO a clear overview of the status of KPIs and budgets across the company in real-time with its intuitive project dashboards. Each dashboard can be configured specially for each department's needs, from sales and leads to customer satisfaction ratings. If something is going off course, your PMO will be able to monitor it early on and make decisions to get everything back on track.
Start with monday.com, Today
As a full-service partner, we can get your business and PMO set up with everything needed to hit the ground running with monday.com. Click here to see how monday.com can help empower your PMO today.
tmnxt is the leading partner of monday.com in the DACH region. We are happy to help with any questions you may have. Feel free to reach out to us anytime!