Change is evolving into the norm, forcing companies to reconsider not only their business strategy but also their methods of transformation to align with and execute that strategy<\/a> effectively.<\/p>\n According to Gartner<\/a>, \u201cStudies indicate more than two-thirds of well-formulated strategies fail due to poor execution, which is often a failure of enterprise-level portfolio or program management<\/a>. Organizations often lack a layer between leadership and the professional \u201cdo it\u201d people of the portfolio and program management office (PMO) to ensure appropriate tactics.\u201d<\/p>\n To avoid this fate, companies are relooking at their program management offices to ensure they are business-savvy, adaptable and capable of effectively executing their strategies.<\/strong> They are considering technology, data and collaboration solutions to ensure programs and projects align with strategy and deliver benefits.<\/p>\n An evolved PMO will play a critical role in ensuring your company is ready for any change the world throws at it.<\/p>\n Many of today\u2019s companies face unclear business strategies, confusion over their overall objectives, and a constrained workforce. What most companies do know, however, is they\u2019ll need more project managers to help as they:<\/p>\n Historically, PMOs were seen as administratively focused on process and compliance. As a result, PMOs must transform to drive new initiatives<\/a> aligned with your company\u2019s evolving business strategies.<\/strong> They must stop delivering process and start contributing to achieving strategic outcomes. This means they work closely with their leadership to ensure program and project alignment with the company\u2019s vision and culture.<\/p>\n But how do you ensure they\u2019re effective? Your modern PMO must evolve to adapt to the changing dynamics of business and project management<\/a> and adopt new skill sets to help your organization execute its strategy. Here are a few ways you can start:<\/p>\n Modern PMOs can provide your organization with the ability to track and measure the realization of business value and benefits, ensuring programs and projects contribute to your organization\u2019s bottom line. It can help ensure organizational alignment, that projects follow through with new processes and operations, and maintain and encourage collaboration across teams.<\/strong><\/p>\n As you emphasize on value delivery, there are two essential things to remember:<\/p>\n Your modern PMO needs to evolve its business capabilities to ensure your organization is ready for anything. This means assessing their operating models and approaches to determine if they can support such capabilities.<\/p>\n For example, to ensure consistency and a significant impact across your organization, contemplate centralizing your delivery project and program oversight in a single organization or hub. In addition, consider incorporating agile and hybrid methodologies that promote collaboration and responsiveness.<\/p>\n Lastly, as you modernize your PMO, you need to identify which behaviors need to change not only in that team but also across the organization. Now that your program and project leaders are no longer delivering process and control and becoming more strategic, they need to model behaviors others must embrace as well. Adopting a culture of agility<\/a> can help.<\/p>\n It\u2019s time to create new relationships across the organization. Not only should your PMO help foster collaboration among siloed delivery teams, but it should also collaborate with other leaders.<\/strong> The PMO should coordinate and protect projects as needed.<\/p>\n To ensure both collaboration and accountability, your PMO should:<\/p>\n Your company must be more strategic, adaptable, and value-driven than ever before, thanks to changing customer expectations, shifts in the market \u2014 and new technologies. Don\u2019t leave your PMO out of your transformation.<\/p>\n Instead, have them assess processes, methodologies and performance to enhance their efficiency and effectiveness. Because, after all, you can have the greatest strategy in the world. But if your company cannot deliver on it, it\u2019s useless.<\/strong> Take steps to modernize your PMO and watch your ability to navigate your strategy more effectively.<\/p>\n\n Imagining a Modern Program Management Office<\/h2>\n
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1. Value-Oriented Approach<\/h3>\n
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2. Evolve Business Capabilities<\/h3>\n
3. Facilitate Collaboration and Cross-Team Accountability<\/h3>\n
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Conclusion<\/h2>\n