A PWC study of over 10,600 projects found that only 2.5% of businesses complete their projects 100% successfully.
There are many reasons why you need a PMO but the best way to understand is to understand the benefits of a PMO.
Strategic Benefits
- Increase return on investment through early release of products
- Enhanced execution of business strategy
- Enhanced alignment of strategy to delivery
- Sector competitive advantage
- Reliable delivery of products to market
- Improved quality of products delivered through consistency
- Transformational change programmes delivered with consistency and predictability
Tactical Benefits
- Consistency and reliability of project delivery
- Improved project prioritisation leading to less waste
- Better use of project data feeding into the organisation for improved decision making
- Standardisation of processes and procedures
- Increased project transparency
- Senior stakeholder engagement
- Projects capacity planning
Project Team Benefits
- Expert supports, i.e. risk management, planning, change control and business case writing etc
- Administrative support, i.e. files, templates, meeting management and configuration management
- Coaching and training support enhancing team skills
- Project assurance
- Project promotion
- Project championing
