The priority of every business is to pursue a smoother project delivery. But sometimes the project fails, due to various reasons. And over the years, many businesses also developed their internal project management office and tried to stalk about those failures.
These PMOs tried to regulate a path where projects can be managed and make them predictable and successful as well.
So, a successful PMO allows projects to continue that are integrated with the organization’s strategies and endorses the winning conclusion of the projects on time and on budget.
But with a PMO’s error, the projects can fail. So the other levels of management must be added on the front of the PMO.
Usually, the successful path for many PMO approaches includes:
Project Management Office – Here the organization is characteristically starting to offer help to project managers to track time and expenses, make relevant status reports, and follow deliverables and risks.
Program Management Office – It becomes more important when a firm grows and their project management pathways need to be mature.
Like firms arrange several projects in support of an overall program and share reports to the higher executive and project owners.
Portfolio Management Office – Here the organization configures at the departmental level and makes sure both programs and projects bring to the line of the business objectives.
Over the years the above-mentioned chain has been working as a ladder for enterprises. With a new and higher level of project management has emerged in the last few years – Enterprise Project Management software.
How EPM Works?
An enterprise project management methodology runs outside of any particular department but shares the reports with C-level organizational members. Like; Managing Partner, CEO, CFO, etc.
The EPM manages both programs and portfolios within the entire enterprise and presents a high-level view of the organization’s portfolio of projects.
An EPM offers visibility across different divisions of an organization and effectively collaborates with a strategic coalition of projects. These visibilities frames also provide a more strategic and organizational view for increasing the ROI evaluation with demand forecasting and resource planning without humanitarian involvement.
This module is unlike the conventional project management program. The traditional project management modules are more tactical and operational.
An EPM is different from the traditional project, program, and portfolio PMOs. The traditional PMOs are more tactical and operational, while an EPMO provides a strategic umbrella to these PMOs.
It improves and supports their work but does not remove them, most important the overall project organization equipment achieves strategic business goals.
With this high rate of project success, it is pretty obvious that enterprise project management methodology is gaining the interest of both small and large-scale organizations.
What are the Benefits of EPM
Project management offices, whether we are talking about projects, programs, or portfolio offices all have some problems in their operations.
Very often PMOs are not strategic enough — project and program PMOs operate at a functional level and portfolio PMOs are often only tactical in their view. But, an EPMO can go beyond project, program or portfolio management strategies. It can help pull other PMOs together and provide some unique benefits:
Standard PMOs in a large organization will have grown out of various departments, business units, or locations. As such, they may have very different maturity levels and use disparate frameworks, tools, and reporting mechanisms.
The creation and influence of an EPMO will require these various PMOs to centralize their standards and operations to meet strategic needs.
Executive Visibility and Involvement
Since an EPM operates at a strategic level within an organization and reports directly to the high-level executives, projects, programs, and portfolios often get better executive visibility.
With an involved and presumably more interested executive team, aligned projects will have a greater chance for success.
Better Alignment with Strategic Goals
Because of its high level of operation within an organization and executive visibility, an EPM can more readily ensure projects are aligned with the organization’s strategic goals.
Coordination in Global Operations
If an organization has offices around the world, a centralized EPMO can help bring together PMOs that are geographically dispersed or departmentally separated, allowing for collaboration and support of cross-functional projects.
Traditional PMOs often only operate at a department level.
PMOs from different departments will have different views of what is important and will typically lack a wider or more strategic view of active projects, programs, and portfolios throughout an organization.
PMOs can help bring together disparate departmental PMOs and provide strategic alignment and executive-level exposure.
A good EPM will capture project demand from across an organization and help to effectively manage demand-forecasting. An EPM will presumably have no departmental bias, which means it can more easily help prioritize resources to meet organizational demand.
With a broader vision across the organization, an EPM can also be well positioned to evaluate the value and ROI of projects for the organization.
An EPM will have a view of project management across multiple departments or business units, hopefully helping to eliminate any duplication of project management efforts.
Stronger Project Organization
An EPM enhances the role of project, program, and portfolio management, providing an overarching level of management that can contribute to the success of projects.
Source: PMI ORG
According to a 2017 Project Management Institute report, organizations that have established an EPM reported that 38% more projects meet their original goals and business intentions, and 33% fewer projects failed.
Each project team has its own set of requirements but these 5 are the most common yet crucial capabilities that help drive projects to their successful completion.
Make it a point that you have the power of:
- Project templates for simplified task management
- Kanban boards and custom task status workflow
- Time Tracking
- Resource Management
- User Role Management
And, imagine you have to rely on multiple systems and tools to get to all this information! What a waste of time and effort!
Orangescrum open-source enterprise project management tool brings all of these critical aspects into one and enables holistic collaboration across the organization.
Centralized access to project information, activities and tasks, resources, visibility to progress and true status of your execution.
Execution, monitoring and improvisation goes hand-in-hand with a real time granular view of all moving parts of your project.
Take a look at all the enterprise project management requirements and capabilities you may need right here!