You’re probably familiar with the grim statistics. Industry analysts tell us that traditional PPM is failing to deliver the anticipated results. And despite continued and significant investments in PPM, companies are still losing up to 46% of the planned business value from their project portfolios.
Clearly, the status quo isn’t working. But a new breed of business leader is emerging to help buck the trend and transform PPM. And the UMT360 team will be at the PMO Symposium in Miami to help showcase how these leaders are breaking the cycle of unreliable planning, cost overruns and project failures.
If you’re planning on attending the PMO Symposium in Miami from November 16-19, stop by the UMT360 booth to say hello. You can participate in our survey, picture how you measure up against your peers and be in the running for one of the free GoPro cameras we’ll be giving away at the end of each day. Also, while you’re at the PMO Symposium, don’t miss Frank LaRocca’s presentation Learn How to Establish a Strategic PMO on Tuesday, November 18 at 8:00am. Frank is Director of Financial Governance at Con Edison, and will share the success PMOs can enjoy by taking strategic responsibility for business investments.
That’s the one common thread between all organizations that have successfully transformed their PMO – they all recognize that projects are actually strategic business investments. And they also understand that no project exists in a vacuum, so they take responsibility for managing those investments by:
- Digitalizing investment planning & controls across the PPM lifecycle
This enables organizations to consolidate demand, align funding decisions with strategic priorities, automate status reporting & variance analysis and dynamically reallocate and redistribute funds to maximize ROI.
- Connecting enterprise portfolios to drive complete visibility & insight
By integrating projects and enterprise portfolios, organizations can better understand costs, increase visibility and control across all spend, gauge cross portfolio impact of all initiatives and establish a benefits realization framework to measure results.
These steps are critical for any organization interested in optimizing spend and maximizing ROI across their portfolios. So whether you’re able to attend the PMO Symposium or not, we’d love to hear in the comments section below about the challenges and successes you’ve experienced in transforming your PMO. We’ll be reporting back with the results of our surveys from the PMO Symposium, so check back here next week to see how you measure up with your peers!