How project portfolio management tools improve visibility
The term " Project Portfolio Management " ( PPMrefers to the process of planning and managing projects in an organization. How project portfolio management tools improve visibility in today's organizations.
The PPM allows to define the project strategy, to determine the needs and to organize the projects according to their importance, in order to reach the fixed objectives.
It is a method that analyzes the current situation, the desired result and the actions to be taken, based on the 8 steps of the PPM process.
1. The PMO as a management tool
As part of a continuous improvement process, the PMO is increasingly used as a steering tool. Indeed, more than 80% of PMOs are focused on continuous improvement and project management is at the junction of continuous improvement and organizational improvement.
Thus, the PMO can specifically contribute to continuous improvement and organizational improvement. In order to better understand the role of the PMO, we suggest you discover it.
The PMO as a project management tool
When using the PMO to manage your projects, it is important to properly assess the project you are assigning to them. This will ensure that the PMO has all the necessary resources to successfully complete the project.
In addition, this assessment can help identify and anticipate potential challenges that may arise and respond appropriately.
The structure of the PMO
The PMO structure can be organized into 4 different departments for better visibility and efficiency. These departments include project management, risk management, quality management and documentation management. This also facilitates communication between the different employees.
Governance of the PMO
To be effective, the PMO must be governed. It is therefore necessary to define rules that govern its operation to ensure that the PMO is used properly and can be trusted. It is also important to define rules regarding tasks and project management, which will help avoid conflicts of interest and other problems.
2. The PMO as a project management tool
The PMO (Project Management Office) is an administrative entity that aims to administer, coordinate and supervise the projects of a company. It is also called project management department. Its purpose is to improve and ensure the reliability of the tools and projects of an organization. This position was created by large companies, but can also be used by small and medium-sized companies to manage their projects more efficiently, with an increase in productivity of 20 to 30%.
How is the PMO a project management tool?
The PMO is a project management tool aimed at reducing the risk of project failure, one of the main objectives. It allows you to determine the value of each project and to integrate it into a project portfolio, as well as to manage resources. With a PMO, the success rate of projects can be increased up to 40%.
The PMO allows for the optimization of resources and the planning of projects
Resource optimizationis crucial for the PMO. It is about ensuring that the necessary resources, in terms of quantity and quality, are available to complete the project. Simulations can be performed to determine the number of people required, their skills and the time needed.
These simulations allow for more efficient project planning, resulting in better resource management and cost savings of more than 10%.
The PMO allows for the control and coordination of all projects
The PMO allows for the control and coordination of all projects, ensuring that they are on schedule and coordinated to avoid conflicts of use.
In addition, it controls the risk level of each project, which is essential for long-term projects of up to 12 months or more.
The PMO allows to follow the progress of the projects
The PMO allows you to assess the progress of projects at any time. This can be useful in the event that a project is delayed in whole or in part. It can also be useful to identify projects that are behind schedule or over budget. It is also possible to track the progress of projects according to different criteria, such as the number of tasks, the time spent on each task and the budget allocated to each project.
3. The PMO as a quality management tool
Quality management practices (QMP) are developed to improve the quality of products and services. They help identify problems in production processes and provide means and solutions to improve them. A QMP is an integrated management system that promotes a quality culture. It defines objectives, priorities and measures for management, control, support, development and administration, which must be respected.
Verification of the competence of the resources
To ensure that resources are competent, it is necessary to conduct regular audits. This ensures that the resources have the required skills. For example, you can ask them to take a test on the PMO software or even a project knowledge test. Periodic checks can also be done to see if resources have undergone training or upgraded their skills.
Expand the use of quality of service
To ensure that QoS is not only applied during project deployment, you can also use it for your project management. This allows you to ensure that all the projects you manage conform to the same standards, whether it be quality of service or project management. This means that several projects will not be managed differently, which significantly reduces efficiency and management costs by up to 50%.
Quality auditing processes
When establishing a PMO, it is essential to ensure that quality processes are in place. This helps to achieve higher levels of quality and avoid delays in projects. In addition, it ensures that the results achieved are in line with expectations. If the results are outside of your expectations, you can address them immediately.
The PMO is a project management and steering method that can be used by all managers working on projects. Some define it as a tool to improve visibility. This method provides management with an overview of activities, deadlines and key indicators, which can reduce the risk of conflict by 80%.