Strategic planning for a project office

Companies are now realizing that their knowledge of project management is intellectual property and must be treated as such. To capture, record, distribute, and update this knowledge, many companies are establishing project offices (POs) and assigning it such responsibilities as portfolio management, strategic planning, and benchmarking. This article examines how to strategically plan such a PO. In doing so, it identifies three activities for strategically planning POs and the three most common types of POs; it reviews the history of POs from 1950 to 2003, pointing out the benefits of implementing POs and the activities common to POs. It then details the relationship between project management information systems (PMIS)--risk management, earned value, performance failure, lessons learned--and PO responsibilities. It explains PO function in relation to information dissemination, mentoring, standards and templates development, and benchmarking.
member content locked

Become a PMI member to gain access

or Join

Advertisement

Advertisement

Related Content

  • A Roadmap to PMO Excellence member content open

    By Farid, Sam In the world of the PMO, strategic thinking is not enough—agility and adaptability are crucial for overall survival and sustainable growth.

  • Project Management Journal

    Modeling Organizational Project Management member content locked

    By Müller, Ralf | Drouin, Nathalie | Sankaran, Shankar The contemporary discourse on organizational project management (OPM) complements project, program, and portfolio management with emerging elements, such as governance, projectification, the project…

  • PM Network

    Best in Class member content open

    By Fister Gale, Sarah The public school system in Tacoma, Washington, USA needed to transform its learning environment. The goals for the state's third-largest district were lofty: boost sagging graduation rates, invest…

  • PM Network

    Powerful Connections member content open

    By Fister Gale, Sarah As Australia's largest telecom, Telstra needs to meet the expectations of its hyperconnected customers head-on. From mobile networks to home internet access to pay television, the company has…

Advertisement