Although project management offices can improve the performance of a company by streamlining operations, they often have difficulty demonstrating their value to other executives, particularly CFOs and other financial leaders looking for concrete results. This is a serious issue for the PMO, as nearly half are closed down within two years of institution. Data suggests that this occurs even if the PMOs are having a positive effect on a company. In many cases, they just did a poor job of providing evidence of their benefit.
The following is a list of important potential key performance indicators by which a PMO might measure its productivity in the context of overall company success. This list has been extracted from a 2002 study conducted by the Center for Business Practices and documented in the book “Justifying the Value of Project Management” by James Pennypacker. These specific KPIs are particularly relevant to executives and have been found to improve the practice of project management.
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