For leading enterprises, it is clear that project management office (PMO) software can bring benefits in terms of efficiencies and strategic advantages. The benefits of enterprise PMO software extend beyond these leading organisations, to lesser-favoured companies and projects with a less aggressive stance towards improving their performance and efficacy.
A PMO system effectuates a strategic and tactical approach that makes it easier for you to get as much value as possible from your projects. With it, you can optimize how you handle your project, hence increasing the success rates of your projects. Here’s how top-grade enterprise PMO software can benefit your projects.
1. Improves visibility of project execution
With PMO software from a reliable company like Cora Systems, all your projects are brought under one umbrella. You can see a bird’s eye view of all your projects. This way you have a good command over where each of the projects is headed and how far they have come in their journey. And with easy access to accurate information, you can make informed decisions when it comes to risk management and other vital aspects of project execution.
2. Strengthens project planning
A PMO system helps you to get a good grasp of the resources available across all projects. This way you can schedule your tasks in such a way that there is no conflict when it comes to resource allocation and availability. A sound understanding of the nature of work ensures better coordination between all project team members and management, which in turn ensures optimum utilization of resources and better productivity.
3. Manage project dependencies
PMO software makes it easy to monitor all your projects and analyze where one depends upon another. You can plan ahead when it comes to scheduling, allocation of resources and execution in such a way that you are able to manage the deadlines of your projects successfully even with these interdependencies.
4. Provides accurate and up-to-date project status
PMO project management tools allow you to track the current status of your projects and makes it easy for you to access information that can help in formulating effective action plans. It also provides a real-time view of the progress of each project, along with details such as budget allocations, deadlines and deliverables.
5. Builds a strong foundation for risk management
With a PMO system, you can build a process-driven infrastructure that ensures your projects are governed by best practices. For instance, it uses the lessons learnt from previous projects to help plan for future projects more effectively. This way you can avoid pitfalls, build an effective project management culture in your organization and reduce the risk of all projects.
6. Improves resource utilization
PMO software is able to improve resource utilization in two distinct ways: by providing you with accurate resource information for better planning and by allowing you to compare the utilization of resources across different projects, which you can then use to improve overall productivity.
7. Facilitates effective communication
Since a PMO system provides all the relevant project data in one place, it makes communication between teams and departments much easier. Project managers can easily update other stakeholders about the status of their projects which helps them to stay updated on important matters without having to repeatedly ask for detailed information.
8. Quality assurance
A PMO system provides you with access to all the critical project information, which helps project managers and other stakeholders to follow through on tasks till they are done. In addition, using PMO tools makes it possible for project outsiders (members of the PMO) to see some areas that can be improved on in a way that those handling the project may not see. The end result is an improvement in project quality results.
9. Helps you measure performance
PMO project management tools will help you keep track of metrics such as budget allocation against deadlines, achieving milestones etc. to gauge the effectiveness of your projects. This is an important step in identifying areas of improvement and also helps you to set targeted goals for future projects.
10. More Collaborative Projects
Collaboration is what defines a leading organisation in any industry. This leading position goes beyond being collaborative with your customers but also has the need for collaboration amongst your employees and project managers. With enterprise PMO software, you can get more done faster because your teams are working together towards a common goal.
To sum things up,
When managing multiple projects, it’s easy to lose sight of what’s most important. But a well-implemented PMO will help you get more value from your projects and increase the chances of success of your organization.
By choosing leading enterprise PMO software from a reliable provider, you can take advantage of the best practices used by the industry’s most respected enterprises. And with great enterprise PMO software, you can bring all your projects under one umbrella and create a roadmap that will benefit your entire organization.