What is a PMO?

WHAT IS A Project Managemenit Office Марадетent (PMO)? Offce A Project Management Office (PMO) is a department within a company that improves project management by standardizing processes and improving efficiency. PMOS create and maintain project documentation and best practices, track metrics, and offer training. PMOS may also report project progress to execs/stakeholders, help prioritize projects, & ensure projects support business objectives. PMO Popularity by Revenue 90% PMOS are more popular than ever. The number of companies with a PMO has grown from 88% 2000-2012 80% 61% 47% of small of large enterprises have a PMO of mid-size 30% of companies currently without a PMO plan to start one in the coming year. organizations companies have a PMO have a PMO small = <$100M mid-size = $100M-$1B large = >$1B PMO Popularity by Industry Percentage of companies with a PMO, by type: 93% Healthcare 93% Finance 85% Information Technology 78% Manufacturing 60% Professional Services PMO Training Trends 49% of PMOS offer project management training. Of those 49%, most offer training in: PM Basics 85% PM Software & Tools 67% Leadership Skills 55% Advanced PM Skills 51% PMP Prep 42% Business Alignment 34% PM Certificates 22% Top PMO Challenges The 5 biggest barriers to PMO success: |51% EEF| |47% Resistance to change within the organization |45% PMO |43% |43% perceived as unnecessary overhead Not enough time/resources for strategic activities Poor resource Value added by PMO challenging to prove management capabilities How PMOS Create Value On average, high-performing PMOS offer: 45% 28% $101,000 more projects aligned with business objectives increase in # of projects delivered under budget cost savings per project Project Brief 27% 18% 31% decrease in # improvement in productivity improvement in customer satisfaction of failed projects Brought to you by Thousands of project managers across the globe rely on Wrike's project management software to manage their tasks, projects, and teams online. Wrike Start a free trial at Wrike.com! Award-winning collaboration and project management software Sources: PM Solutions' The State of the Project Management Office (PMO) in 2014