From construction to pharmaceuticals, engineering to biotechnology, more and more organizations across a broad range of industries realize the benefits of effective project management in today’s competitive business environment. Whether run by a nimble team of project managers or a seasoned enterprise project management office (PMO), effective project management easily demonstrates its value for businesses. But PMOs, in particular, are the focus of “The State of the Project Management Office (PMO) 2022” report. This report highlights how effective, high-performing PMOs provide significant improvement in key areas:
Project delivery
It’s no surprise that effective project management breeds efficient delivery of projects. Organizations with a strong PMO are earmarked by meeting significantly higher quality, budget, and timing standards – 65%, 61%, and 59% higher respectively than organizations without PMOs. Increased delivery of successful projects in turn yields cost savings and provides organizations with an edge against competitors.
Business alignment
A business operates much like a finely tuned symphony orchestra. Each department plays a unique instrument, contributing to the overall harmony. Without the guidance of a conductor, overseeing and unifying these disparate parts, the orchestra would descend into chaos. In businesses with a strong PMO, the project manager plays the role of conductor, bringing transparency and alignment to an otherwise siloed organization. Companies that build a strong PMO experience a 64% improvement in employee alignment with business objectives, reducing redundancy and ensuring a faster path towards achieving business goals.
Customer satisfaction
Effective project management considers the customer’s needs at every junction. A project may be delivered on time and under budget but may ultimately be deemed a flop because it missed the mark on customer expectations. Project managers and PMOs understand the importance of the customers as critical stakeholders in defining project success. Utilizing effective PMOs can increase customer satisfaction by 59%.
The numbers are in, and the benefits of effective project management make a strong business case. Relying on experienced, knowledgeable project managers leads to greater project success, alignment of business goals, and a positive customer experience.