BMB Data has developed a breakthrough project and portfolio management framework - PMO2™ (Project Management - Opportunities to Outcomes). PMO2™ is a framework that can be used to manage the entire life cycle of an initiative: from the initial opportunity to final business outcomes. An organization can manage their initiatives to achieve maximum business value by linking their opportunities to outcomes through and integrated framework. The PMO2™ framework also provides visibility of the core processes (i.e. governance, delivery and enablement) and roles that are required to produce the expected business outcomes.
Managing initiatives/projects in today's highly competitive environment requires organizations to go far beyond traditional project oversight and develop a portfolio management approach. Legacy project management approches have been established to monitor projects and are not robust enough or designed to turn opportunities into the business outcomes that are expected. Without connecting opportunities to measurable business outcomes, initiatives risk losing credibility amongst stakeholders, and their overall value comes into question.
In addition to the PMO2™ framework, we have developed a Value Scorecard that an organization can use at each stage to manage the value associated with each initiative. This process helps to ensure that they are targetting the initiaitves with the most business value and provides a framework for operating as an Agile Business.
PMO2™ Framework and the Value Scorecard benefits include:
- Provides a management decision framework that enables more effective, agile governance and decision making processes;
- Enables the organization to understand the value of their initiaitves from a balanced and focused view;
- Enables communication throughout the organization: “Individual to Individual” not just “IT to Business”;
- Expands the typical project management focus to include the initial opportunity assessment/business case and the expected and delivered outcomes.
- Defines and links the key resources and tools that are required to enable the core delivery activities;
- Elevates existing expertise in project management methodologies and guidelines to provide enterprise value.
Take the MyVPMO requirements survey today and understand how PMO2™ can help your organization to move to the next generation of project portfolio management.