Basics of a PMO?
If you are just learning about project portfolio management, you may have heard the term PMO. PMO stands for Project Management Office. Now that you know what PMO stands for, you're probably still wondering: what is a PMO? While specific functions and responsibilities may vary by company, in general, a PMO is a group or department within an organization that is responsible for the centralized and coordinated management of all projects. In the past, it was common for a PMO to define and standardize project management processes. While many PMOs still take on that task, modern PMOs often own the project portfolio management process. This means they help management determine which projects should be done when and by whom.
In this first post of our four-part series about the Project Management Office, we will look at what a PMO actually does and what benefits it brings. Stay tuned for the following blog posts in the series where we will discuss how the PMO is anchored in the company, how you can best implement a PMO and how to measure its success.