PMOs are promoting agile transformations in organizations to deliver unanticipated business outcomes. They are setting new milestones with agile by employing top performers for an independent decision-making culture. In this article at PMWorld 360, Francesco Pecoraro brings forth the merits of agile portfolio management embraced by PMOs. It enables them to plan and view future possibilities in a new light while maintaining certainty and headway.
Distinct Roles Played by PMOs
The project management office contributes to the program, portfolio, and project management. Some organizations assign separate teams to manage each category, while others empower a single PMO to cover all aspects. Indeed, the PMO must act smart to execute strategies. For instance, portfolio management enables selecting the right projects for your venture, while project management handles tasks appropriately. Program management allocates the tactical execution of activities to produce desired results.
Portfolio management is critical to evaluate current and upcoming programs and projects to identify the necessary progress initiatives. Often, clients suspend projects and programs considering the market fluctuations. It happens when your team overshoots the budget. By aligning portfolio management with agile methodology, you can regularly assess new deliverables’ costs and choose value-for-money projects for development.
Agile portfolio management could be a product backlog that does not require a change of roles and responsibilities. Together, agile PMO and portfolio management can improve project planning, execution, and observation.
Thus, you can undertake complex assignments and stay focused on task quality at a time. The approach can prove helpful in achieving long-term growth plans.
To sum up, agile PMO and portfolio management can provide a remarkable vision to view and plan the future. Starting from the portfolio level, adopt agile transformation to the project management, and build a reputation in the market.
Click on the following link to read the original article: https://www.pmworld360.com/blog/2020/12/22/benefits-of-pmos-adopting-an-agile-approach/