Establishign a Company Pmo, Ppm & Governance Structure
Establishing a Company PMO, PPM & Governance Structure
Introduction
A project management culture is important in today’s competitive environment. If the company is to thrive and meet future financial targets, project management principles and practices must be a part of our business management model. Every employee must understand how critical this undertaking is. Below are examples (Gary, Larson, 2008) of business environment drivers that are moving the company to create this extremely important initiative.
o In high-tech industries, the product life-cycle is averaging 1 to 3 years. Approximately 30 years ago, life cycles of 10 – 15 years were not uncommon. Time to market for new products with short life cycles has become increasingly important. o The open global markets of today demand cheaper products and services but also better products and services. This coincides with the quality movement and the practice of building quality into the project plan. o The growth in new knowledge and understanding has increased the complexity of projects because projects encompass the latest advances from the materials used to the specifications, codes, equipment and specialists required to complete the project objectives. o Increased competition has placed much emphasis on customer satisfaction. No one settles for generic products and services. The demand is around customized products and services that cater to specific needs. Years ago there was more of a “one-size fits all” approach. Now there is a great deal of selection.
In summary, there are a substantial number of environmental forces requiring the company to take project management to the next step. The company project management initiative will position us for the future business environment which will require increased accountability, flexibility, innovation, speed and continuous improvement. This briefing will describe this company initiative and plans to create a Project Management
Introduction
A project management culture is important in today’s competitive environment. If the company is to thrive and meet future financial targets, project management principles and practices must be a part of our business management model. Every employee must understand how critical this undertaking is. Below are examples (Gary, Larson, 2008) of business environment drivers that are moving the company to create this extremely important initiative.
o In high-tech industries, the product life-cycle is averaging 1 to 3 years. Approximately 30 years ago, life cycles of 10 – 15 years were not uncommon. Time to market for new products with short life cycles has become increasingly important. o The open global markets of today demand cheaper products and services but also better products and services. This coincides with the quality movement and the practice of building quality into the project plan. o The growth in new knowledge and understanding has increased the complexity of projects because projects encompass the latest advances from the materials used to the specifications, codes, equipment and specialists required to complete the project objectives. o Increased competition has placed much emphasis on customer satisfaction. No one settles for generic products and services. The demand is around customized products and services that cater to specific needs. Years ago there was more of a “one-size fits all” approach. Now there is a great deal of selection.
In summary, there are a substantial number of environmental forces requiring the company to take project management to the next step. The company project management initiative will position us for the future business environment which will require increased accountability, flexibility, innovation, speed and continuous improvement. This briefing will describe this company initiative and plans to create a Project Management
References: Morris, Rick A. (2008) The Everything Project Management Book 2nd Edition Avon, MA: Adams Media Gary, C.F., Larson, E.W. (2008) Project Management – The Managerial Process New York, NY: McGraw-Hill Irwin Campbell, G.M., Baker, S.B. (2007) Project Management Fourth Edition New York, NY: Penguin Group