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Benefits of promoting a Project Management Office within the company

PMO

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Banking & Fintech |  Insurance |  Public Administrations |  Telecoms & High-tech

These PMOs must have the support of the organization, providing visibility and capacity. Among their main contributions to the organizational structure of the company we can highlight:

  • To provide integrated information with a complete vision of the business, from strategy to the delivery and maintenance of products and services (covering their entire life cycle).
  • Facilitate tools that provide predictability and rigor.
  • Establish coordination between the areas that make up the company, facilitating communication and seeking the achievement of results by objectives.
  • Exercise the practice of governance with all business areas of the company.
  • Add a holistic vision approach contributing to continuous improvement in project quality assurance.

 

Objectives and functions of the Project Management Office (PMO)

Large companies are continuously offering greater value to their customers given the increasing demand in the number and complexity of technology projects. This increase in complexity is precisely the reason why PMO areas become key to ensure the correct progress of the business, crossing this monitoring and reporting from the early stages of the design of business plans to the delivery of quality products based on cutting-edge technologies. A good methodology for a Project Management Office (PMO) should be based on advanced monitoring of all the company’s projects, connected to each other. This is achieved by providing robust tools and processes, ensuring proper risk management and promoting the dissemination of knowledge management among the company’s projects.

Our PMO has evolved to become an Enterprise PMO (ePMO) that allows us to carry out our governance and oversight mission by fulfilling the following objectives:

  • To have updated information on the status of project implementation.
  • Support the operational needs of the entire organization.
  • Align project objectives with business strategy.
  • Establish standardized, efficient and effective processes and tools.

 

Functions of the Project Management Office (PMO)

Based on what has been described in the previous points, the main functions of our PMO are structured in two main areas:

  1. Follow-up: helping to detect deviations and/or difficulties in projects early with a proprietary follow-up model. This function is carried out:
    • Through the analysis of metrics and with a global vision of the project context.
    • Ensuring rigorous risk management.
    • Cooperating in the management of strategic contracts.
  2. Methodological support and reporting: supporting the areas that implement this function in the management of the projects. Again, our PMO carries it out as follows:
    • Providing adequate processes and tools to achieve an efficient and unified management.
    • Promoting and supporting the implementation and monitoring of the project management methodology throughout the organization.
    • Generating project status scorecards according to the following indicators: cost, deadline, quality, customer and risks.

 

Structure of our Enterprise Project Management Office (ePMO)

Although there are different models to structure a PMO, the one designed in Grupo Oesía is organized in three competences: the Project Manager PMO, the Contract Manager and the Data Manager. In short, our mission as ePMO is to contribute in a significant way so that the strategic objectives of Grupo Oesía are reached in an effective and efficient way. For this, our PMO counts on a team of referent, specialized, qualified and committed professionals.

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