This report describes an overall strategy that will enable most organizations involved in the utilization of project management "best practices" to improve their project outcomes by establishing a centralized project management office (PMO) framework strategy. Typically, most large corporations drive their IT initiatives in a silo fashion, by department or division, using the project management standards, guidelines, tools, and techniques of their own choosing. Often each of these silos maintain their own PMO, frequently referred to as satellite project management offices.
An enterprise-wide PMO framework strategy, as described in the following sections, has been developed through extensive research and information gathering sessions facilitated by TEC and by adopting the Project Management Institute's (PMI) A Guide to the Project Management Body of Knowledge (PMBOK�) standards and the Capability Maturity Model Integration (CMMI) specific to IT initiatives published by the Carnegie Mellon University Software Engineering Institute. The findings and recommendations described within this document were developed through the collaboration of analyst team members at Technology Evaluation Centers Inc. (TEC) and input from external subject matter experts.
These recommendations, when suitably implemented, will deliver a robust and scalable project management framework strategy for both internal and external IT initiatives across the enterprise.
Introduction
Technology is driving fundamental changes at every level of society—from how people shop, bank, travel, and play to how businesses organize and compete. Out of these changes a new business environment is emerging, in which the leading companies are those that can harness the power of the Internet and other technologies to reach more customers, manage their business more efficiently, to effectively address governance compliance and manage risk and how the stakeholders (employees, partners, vendors, and customers) interact. The research findings at TEC explain how to thrive in this new world, wherein businesses must embrace information technology (IT) across their enterprise.
It is becoming more evident that service and product providers must shift their strategic emphasis toward the application and exploitation of information technology in order to remain competitive.
Enhancing the performance of the technology environment of an organization is frequently achieved through the implementation of good project management principles and practices. Projects are a means to respond to requests that cannot be reasonably addressed within the organization's normal operational limits.
Some of the industries most affected by large and complex IT projects are the financial and health care sectors due to their large size and ever changing needs. Other drivers include the advent of new compliance requirements such as Sarbanes-Oxley SOX 404, Basel II, HIPAA, SAS 70 and the like. Typically, these requirements involve the implementation of IT controls and the associated business processes these controls support.
The most effective way to achieve and sustain regulatory compliance is through the automation of business processes, i.e. IT projects. Many enterprise applications are impacted by these internal controls from financials, enterprise content management, business intelligence to information security, it is often challenging to establish strategic IT initiatives that will achieve full compliance.
This shift in focus from work being performed by operations to work being performed through projects requires that an organization establish standard project management practices, including best practices, consistent processes, standards, guidelines, tools, and templates. To ensure consistency of execution and reporting, the organization must also provide appropriate project management training and a data repository for the timely and appropriate generation, collection, dissemination, storage, and ultimate disposition of project information.
This can be achieved through the implementation of a centralized project management office (PMO), often referred to as the project management center of excellence (PM-COE).
Strategic Report Overview
The ffollowing sections describes a structured framework for the successful implementation of a PM-COE/PMO for internal technology groups to effectively deliver on IT initiatives under the triple constraints—time, cost, and quality. The recommended framework is based on TEC's PMO model, which is consistent with the Project Management Institute's A Guide to the Project Management Body of Knowledge (PMBOK�). The PMBOK� provides a widely accepted reference for standards and guidelines, terminology, industry best practices, and knowledge of proven project management principles. The information provided in the PMBOK� describes the generally accepted knowledge and practices that should be applied to most projects, most of the time. The project management analyst team at TEC has adopted this framework strategy in combination with client specific considerations, including the uniqueness of current projects as well as the cultural environment and stages of maturity and capability within the organization. This will ensure that the implementation of strategy recommendations will result in the optimal solution for any IT project-based organization.
An enterprise-wide PMO framework strategy, as described in the following sections, has been developed through extensive research and information gathering sessions facilitated by TEC and by adopting the Project Management Institute's (PMI) A Guide to the Project Management Body of Knowledge (PMBOK�) standards and the Capability Maturity Model Integration (CMMI) specific to IT initiatives published by the Carnegie Mellon University Software Engineering Institute. The findings and recommendations described within this document were developed through the collaboration of analyst team members at Technology Evaluation Centers Inc. (TEC) and input from external subject matter experts.
These recommendations, when suitably implemented, will deliver a robust and scalable project management framework strategy for both internal and external IT initiatives across the enterprise.
Introduction
Technology is driving fundamental changes at every level of society—from how people shop, bank, travel, and play to how businesses organize and compete. Out of these changes a new business environment is emerging, in which the leading companies are those that can harness the power of the Internet and other technologies to reach more customers, manage their business more efficiently, to effectively address governance compliance and manage risk and how the stakeholders (employees, partners, vendors, and customers) interact. The research findings at TEC explain how to thrive in this new world, wherein businesses must embrace information technology (IT) across their enterprise.
It is becoming more evident that service and product providers must shift their strategic emphasis toward the application and exploitation of information technology in order to remain competitive.
Enhancing the performance of the technology environment of an organization is frequently achieved through the implementation of good project management principles and practices. Projects are a means to respond to requests that cannot be reasonably addressed within the organization's normal operational limits.
Some of the industries most affected by large and complex IT projects are the financial and health care sectors due to their large size and ever changing needs. Other drivers include the advent of new compliance requirements such as Sarbanes-Oxley SOX 404, Basel II, HIPAA, SAS 70 and the like. Typically, these requirements involve the implementation of IT controls and the associated business processes these controls support.
The most effective way to achieve and sustain regulatory compliance is through the automation of business processes, i.e. IT projects. Many enterprise applications are impacted by these internal controls from financials, enterprise content management, business intelligence to information security, it is often challenging to establish strategic IT initiatives that will achieve full compliance.
This shift in focus from work being performed by operations to work being performed through projects requires that an organization establish standard project management practices, including best practices, consistent processes, standards, guidelines, tools, and templates. To ensure consistency of execution and reporting, the organization must also provide appropriate project management training and a data repository for the timely and appropriate generation, collection, dissemination, storage, and ultimate disposition of project information.
This can be achieved through the implementation of a centralized project management office (PMO), often referred to as the project management center of excellence (PM-COE).
Strategic Report Overview
The ffollowing sections describes a structured framework for the successful implementation of a PM-COE/PMO for internal technology groups to effectively deliver on IT initiatives under the triple constraints—time, cost, and quality. The recommended framework is based on TEC's PMO model, which is consistent with the Project Management Institute's A Guide to the Project Management Body of Knowledge (PMBOK�). The PMBOK� provides a widely accepted reference for standards and guidelines, terminology, industry best practices, and knowledge of proven project management principles. The information provided in the PMBOK� describes the generally accepted knowledge and practices that should be applied to most projects, most of the time. The project management analyst team at TEC has adopted this framework strategy in combination with client specific considerations, including the uniqueness of current projects as well as the cultural environment and stages of maturity and capability within the organization. This will ensure that the implementation of strategy recommendations will result in the optimal solution for any IT project-based organization.
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