Today, Project Management Institute (PMI), the world’s leading association for the project, program and portfolio management profession, announced that the Fannie Mae’s Enterprise Project Management Office (EPMO) has been awarded the 2019 PMO of the Year Award.
A mere eight years young, the EPMO started at Fannie Mae by bringing responsible standards, cutting-edge methodologies, and best-practice processes to the organization’s projects. Its goal has been to “Enable High Impact Change Delivery” through transparency so leaders can make informed decisions while ensuring alignment with the organization’s mission, which is to provide access to affordable mortgage credit in all markets, at all times.
Over the years, the office has created four core teams to support its organization, which reports to the Chief Operating Officer. These four teams handle everything from managing the portfolio to project execution and to ensuring the needs of the organization are met. “Since its inception, the EPMO has been at the forefront of market, business and technology changes and their implications to strategy. The organization has been a key contributor to strategy execution and it has also disrupted itself many times along the way,” said Amilda Gjecovi Vice President of Enterprise Program Management Office.
Their EPMO has focused on continuously maturing program governance -- both qualitatively and quantitatively. It enables every leader with data-driven insights at each phase of the delivery process so they can make informed trade-off decisions in support of their enterprise goals. It continuously evaluates and balances the Fannie Mae portfolio based progress of sponsorship commitments, enterprise dependencies, and changing priorities. It also tracks adherence to the governance process, as well as works with the Enterprise Operations Risk Management group.
The EPMO has evolved its processes to support both agile and waterfall project management methodologies and invested in tools to maximize governance effectiveness. Its service offerings have grown from managing projects to managing programs and portfolios -- and it now serves as the liaison between the business outcomes and the delivery programs to better ensure value delivery. The EPMO is currently the organization’s sought-out advisors and informers of the data and information needed to make strategic decisions.
"Corporations spend hundreds of billions of dollars on change initiatives every year, but having an industry leader like PMI set the bar for best practices has enabled corporations to improve the rate of return on these investments,” said Joyce Walsh, Vice President of Enterprise Program Management Office. “PMI incorporates industry learnings and best practices for the benefit of so many. It is impossible to estimate PMI’s impact on the return on investments in the industry, but it is undoubtedly impactful to the global economy. Receiving the news that we were selected a finalist for the PMO of the Year Award is one of the most inspiring achievements of my career, and a great opportunity to celebrate my team and recognize their daily efforts to drive substantial outcomes across the organization.”
The PMO of the Year Award honors a PMO that has added value to its organization through its support of successful strategic initiatives and has demonstrated superior organizational project management capabilities. The award also recognizes a PMO that has established a vision for value delivery and has had a positive and clear impact on business results.
This year’s award was presented in Aurora, Colorado, as part of PMI’s eighth annual PMO Symposium®.