The use of a project management office (PMO) has steadily increased in recent years and may be an excellent option for your MSP business. Combining that with important software (give this a read) can help businesses stay on top of what they need when dealing with a project. A PMO is simply an internal or external group that oversees a vast range of projects throughout the organization. In other words, they ensure that the close monitoring of IT projects will increase efficiency and productivity for each employee. According to recent research from PM Solutions, 85% of companies have a PMO and they found 30% of the businesses without a PMO is planning to install one in the near future. If you are an IT provider considering using a PMO, here are a few things you need to think about and the various roles a PMO can play in your company:
The Role of a PMO
The use of a PMO comes in a wide variety of ways, as they ensure company procedures are being followed and projects are being delivered on time while remaining within the budget. It is also an excellent way to align corporate goals with the strategy of the company, as everyone is on the same page together. The use of a PMO can also easily adapt to any strategy shifts and is very flexible in any work environment. It is also a great way to share resources, methods, and unique tools which have a significant impact on your overall workforce. On the other hand, a managed service provider (MSP) that fails to use a project management office is far more likely to experience delays in projects and will typically not run as smoothly as their competition. Ultimately, the use of a PMO provides valuable resources that enable your MSP business to run at a much quicker, more efficient pace.
Three Types of PMO
Understanding the different types of PMO can help you make the best decision for project management in your company. There are three distinct PMO types that you can choose to deploy:
- Supportive PMO – Available whenever it is needed, whether you need new ideas, advice, or various improvements. On the other hand, you can choose to use your own ideas without consulting the PMO.
- Controlling PMO – Provides project templates and various procedures that should be used at all times. While a controlling PMO does not have absolute power, it provides a balance of power and is the most commonly used PMO in today’s business environment.
- Directive PMO – Ensures that all of the company procedures are being followed and provides direct, hands-on project management. Unlike the other PMOs, the procedures of a directive PMO must always be followed, and there is no room for individual decisions. These PMOs are typically found in highly regulated industries and are not often seen at MSPs.
Does My Company Need A PMO?
As you can see, the use of a PMO can take on a variety of shapes and sizes for an MSP business. The vast majority of IT providers can use a PMO to help increase efficiency and ensure each project is on time without going over budget. It is also a good idea to use a PMO when you are about to undertake any significant projects or roll out new strategies. If you need any areas for improvement, using a PMO can help you reduce costs while still being effective. Taking the necessary time to analyze the advantages and disadvantages of the three different PMO types will help you make the right decision for the future of your company.