Enterprise Project Management Organization (EPMO) is a common approach to managing projects and available resources in an organization. Where multiple projects are running simultaneously in a company, the management of each of these projects gets affected at times and hence the need for EPMO. With EPMO, projects can be rendered a new level of automation and effective planning and execution EPMO is generally centered on four major objectives.
Before adopting, an organization must ensure that the company really does need something like an EPM. Employees, ranging from executives to higher level management and staff must find a need of employing an EPMO. And once the need has been established, the organization must make sure the employees are trained properly to optimally utilize the benefits of the EPMO.
EPMO needs a proper process to perform. It identifies the goals and objectives of a project. Then it plans the strategies and controls execution. Process needs to properly incorporate a company’s objectives, citing new opportunities and making necessary changes periodically.
Dr. Sudhir Angur believes that for most effective results, EPMO must be supported with proper technology. Using obsolete technology will hamper performance and over-advanced technology will cost more, without much benefits. Hence, a balance must be struck.
EMPO offers various benefits. It allows only those projects to progress that are in sync with the company’s strategies and objectives. The execution process speeds up and the projects are delivered timely. EPMO takes care of the risks involved and takes care of the changes and other statistical issues that might affect the project.
The common downside of using Enterprise Project Management Organization is that it requires significant investment. However the caveat here is that in many cases, it’s quite possible that the company ends up investing unnecessarily in EPMO,where it does not or may not need one.