Postscript for the Smaller PMO


An effective project portfolio management process is complex and comprehensive. It is not a very common undertaking for the smaller PMO, which presumably has limited resources, not to mention limited business influence. However, the point of focus here is for the PMO to ensure some level of executive involvement in project management. To reiterate the point: projects directly or indirectly produce revenue, executives are responsible for revenue, and therefore executives should be involved in project decisions.

The smaller PMO can begin to influence project portfolio management activities in a number of ways:

  • Examine existing oversight processes, including any formal and informal processes used by executives and senior managers to monitor projects. Perhaps there is some type of portfolio management performed by the accounting and finance department that is not evident within the project management environment. Review these processes to ensure that good project management information is being applied to executive business decisions. Prepare and submit recommendations for improved executive project review.

  • Establish a formal project selection process that includes an executive level review and approval step. This ensures that all projects undertaken are bona fide business efforts, and it introduces project selection as a preliminary activity toward development of project portfolio management. If necessary, and within allowable policies and practices of the business, construct and begin to manage project selection from the purview of the PMO until executives or other stakeholders can be brought into the process.

  • Prepare reports to senior management that compile results across projects and have strategic significance. Remember, program management is not portfolio management. If program management is conducted, a separate strategic level report is still needed.

  • Develop a solid business case, including funding and resource requirements, that demonstrates the value of project portfolio management, and then present it to senior managers and executives for review and consideration. Properly constructed, such a business case could be the PMO's early entry for achieving business integration.

Anything the PMO does to enhance executive level business decisions regarding project management will be a step forward.




The Complete Project Management Office Handbook
The Complete Project Management Office Handbook, Second Edition (ESI International Project Management Series)
ISBN: 1420046802
EAN: 2147483647
Year: 2005
Pages: 158

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