Today, IT organizations spend a large amount of their time delivering projects. While success rates have improved to approximately 34 percent, 15 percent of all projects still fail and 51 percent are somehow challenged, according to research from the Standish Group. There are many reasons why IT projects fail several of which can be attributed to a lack of visibility into long-term project needs. Without proper visibility, organizations are unable to see what is needed six months, three months or even two months down the road, resulting in poorly constructed project plans that do not capture critical dependencies, including assigning project resources and key milestones.
One way organizations have moved from an ad hoc approach to a more effective process is by implementing a project management office (PMO). To create a successful and useful PMO, you must first assess needs and resources by determining the state of your companys existing IT efforts, confirming the overall business goals and creating a roadmap that brings together the necessary people, processes and technologies to achieve them. Organizations are then able to establish a PMO that ensures efficient and cost-effective project execution and delivery.
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