Project Management Trends In 2024

The rise in demand of PMO and EPMOs:

Considering this era of Post-pandemic we are moving towards more different ways to adapt to change in all aspects of life, talking about Project Management we often encounter different hurdles when working on different projects while working from several environments. Project Management Offices were the main counterparts of the organization, but now the PMOs are getting a higher value in an organization with improvements and changes. The demand for PMOs is increasing day by day with different Organizations switching towards Enterprize Project Management Offices. To get to know the rise in demand of the PMOs let us first briefly understand what PMO is and how PMO affects the Project Management lifecycle.

What is PMO and How does PMO Affect the Project Management Lifecycle?

The Project Management Offices (PMOs) help in formalizing Project management beyond the skill of a single Project Manager, It helps to provide consistency in determining the economic and statistical elements of the Projects and Project Managers. The Formal Definition of PMO according to Wikipedia is “A Project management office (abbreviated to PMO) is a group or department within a business, or enterprise that defines and maintains standards for project management within the organization.” This Indicates that the PMO is responsible for allocating the resources for the different projects in an organization including Economy or revenue, the use of different project managers, and time.

The PMO highly affects the Organizational structure, in the past times, it was difficult to manage the Project lifecycle through a classic workflow of the project, from planning to deployment it was hard to predict the strategy and funds of managing different projects at one time.

EPMOs or Enterprize Project Management Offices:

The Enterprise Project Management Office (EPMO) differs from the regular PMO in that it operates at a strategic level in collaboration with management to ensure that projects and portfolio activities are carried out for the benefit of the business as a whole. EPMO is a business activity that operates at a strategic level in partnership with organizational management. The goal of this central office is to provide overall corporate governance, governance, established procedures, and best practices for project portfolio management, tools, and strategies. The main focus of the Enterprize PMO is to regulate the workflow around different levels of the organization. Although reporting structure and locations may vary from company to company, embedding the role of EPMO at the strategic level is important.

The Impact of Pandemic on EPMOs:

Due to the conditions of the new era of post-pandemic, the new boundaries and restrictions are making the Job of Project Management difficult to execute. The new techniques of Working Remotely and Hybrid patterns of different organizations require a proper Project Management Office (PMO) to regulate a complete process of successful Projects. The EPMO and PMOs are important to get things rightly executed for an organization. Here are a few aspects which show how the EPMOs regulate the workflow of organizations.

1. Strategic Planning: The main focus of the Strategic Planning Team is to support the management decisions. This includes the alignment of different aspects such as alignment with strategy, prioritization alignment, benefits realization management of the Projects, reporting through management dashboards, Planning to overcome, and so forth. This Strategic planning is also referred to as portfolio support function.
2. Delivery Support Services: The main focus of the Delivery support service is the support of change, The change is backed up with a set of intermediate flexible resources for delivery staff, power planning, and HR management processes.
3. Centre of Excellence The main focus of the Center of Excellence is the development of standard methods and functions to regulate and improve the uniform workflow of the organization. This is a very important internal part to ensure that the processes are deployed appropriately.

Conclusion:

This shows the importance of PMOs and EPMO. Explaining the main aspects shows why there is a rise in the demand for EMPOs. When setting up your EPMO format a thorough analysis must be done. Mapping your organization’s current and future needs and goals will play an important role in the successful implementation of EPMO.