Abstract:
Abstract
As the role of project management in the modern organization has grown, many organizations have identified a need to formalize the practice of project management and to develop centers of coordination and excellence for project management. A PMO (Project Management Office) is often viewed as a vehicle to achieve coordination, standardization, optimization and management of the practice of project management.
No project plans to fail but according to a research by the Standish Group, 19% of all projects fail - and another 46% of projects face significant challenges, such as delays, budget overruns, or end products with less than the required features and functions. These required failures and challenges can be attributed to undocumented project management methods, uncontrolled and reactive delivery, unrealistic budget or time expectations, limited planning, or a lack of executive commitment. This report explores and addresses such concerns which can be answered by implementing a PMO.
In this report a PMO model has been recommended for the company I work in i.e. FFCL (Fauji Fetilizer Company Limited) after studying the need of a PMO in the organization. There are different definitions available for a PMO. However, according to PMI (Project Management Institute), a PMO can be defined
as:
"An organizational body or entity assigned various responsibilities related to the centralized and coordinated management of projects under its domain".
Furthermore, a project timeline has been created for the selected project in the company. I have studied "Dynamics of PMO and EPM Server" as an elective course in the degree program MS (Project Management) at Bahria University Lahore Campus by respected teacher Mr. Ahsan Maqbool who has been kind enough to guide us throughout the course.
