Most organizations have traditionally distinguished between “technical” and “nontechnical” projects. Today, however, it’s difficult to think of any business project that does not have a technology component.
In a recent Techaisle study, most midmarket executives agreed that all business strategy discussions involve technical considerations. This increases the complexity of business initiatives and requires a different approach to project management. Project leadership requires business acumen as well as project management skills, and the ability to think strategically about the organization’s overall objectives.
Many organizations have established project management offices (PMOs) to address this complexity. A PMO is a multidisciplinary team tasked with defining project management standards and ensuring that project managers follow best practices. Most importantly, the PMO provides documentation, KPIs and other guidance to help ensure that projects are completed on time and within budget.
Organizations that have multiple cross-functional projects are finding that a PMO is essential. According to a recent KPMG report, 57 percent of organizations use a PMO to coordinate their project portfolios.