Pmo Project Management Office

A Project Management Office (PMO) is a group or department within a business, agency or enterprise that defines and maintains standards for project management within the organization. The PMO strives to standardize and introduce economies of repetition in the execution of projects. The PMO is the source of documentation, guidance and metrics on the practice of project management and execution. In some organisations this is known as the Program Management Office (sometimes abbreviated to PgMO to differentiate); the subtle difference is that program management relates to governing the management of several related projects.
Traditional PMOs base project management principles on industry-standard methodologies such as PMBOK or PRINCE2. Increasingly influential industry certification programs such as ISO9000 and the Malcolm Baldrige National Quality Award (MBNQA) as well as government regulatory requirements such as Sarbanes-Oxley have propelled organizations to standardize processes[citation needed]. Organizations around the globe are defining, borrowing and collecting best practices in process and project management and are increasingly assigning the PMO to exert overall influence and evolution of thought to continual organizational improvement[citation needed].
According to the Standish CHAOS Report (2009)[citation needed], 68% of projects do not meet time/cost/scope targets. Only 32% of projects were completed on time, within budget and delivered measurable business and stakeholder benefits. There are many reasons for such failures. As per a KPMG survey[citation needed] of 252 organizations, technology is not the most critical factor. Inadequate project management implementation constitutes 32% of project failures, lack of communication constitutes 20% and unfamiliarity with scope and complexity constitutes 17%. Accordingly 69% of project failures are due to lack and/or improper implementation of project management methodologies.
Establishing a PMO group is not