“You can’t keep it all in your head. Project Management tools are an absolute necessity for the control of any project.” – Louis Fried
Most companies in Thailand still do not realize that gaps and inconsistencies in the way they use project policies, standards, and procedures from project to project, are what is causing poor overall project performance. Establishing a Project Management Office (PMO) would limit this frustration and integrate standards, procedures, and policies to make them uniform, thus improving project processes, and ultimately performance.
The Project Management Office (PMO) is the single most critical tool for the success of any company and is what differentiates between a good project company and a great one. The PMO provides oversight for the overall management of projects and programs within an organization. Getting all projects under one overall standard helps improve efficiency, costs and execution of project deliverables.
There are four common characteristics that define a Project Management Office:
- Ensure Projects are completed within Budget and on Time
- Significant Improvement in Project Quality/Meeting Requirements
- Reduction of Project Risk
- Consistency in the use of Project Management Processes
Project Management Offices (PMO) are often an understated tool that companies need, to improve quality, efficiency, and overall project performance. Implementing PMOs, companies benefit from successful project planning, execution, and the improvement to their bottom-line profits. It will also ensure that company resources are not being squandered, and are utilized in the most efficient way.