Inside PMO is an annual report from PMO Flashmob which is created from contributions from leading PMO Managers on key PMO themes.
The annual PMO Managers Lunch is a PMO Flashmob Plus event. With PMO Flashmob there are great conversations amongst different types of PMO people and this event gives us an opportunity to bring together leaders of PMOs – PMO Managers to discuss PMO topics that are relevant today.
It is an opportunity for PMO Managers to talk to other PMO Managers in different industries. We also wanted the opportunity to understand what is happening in PMOs today – PMOs in the real world.
We were also conscious that there is not a lot of PMO benchmarking available either formally or informally and this is an informal benchmarking opportunity which brings insights that others from within the PMO community can share and learn from.
This article provides those insights from the first PMO Managers Lunch held on 3rd December 2015 in London’s Fleet Street.
Beyond Portfolio Reporting
The Challenges and Reality of Portfolio Management
December 2015, London
Early December in London’s Fleet Street and PMO Flashmob – the PMO networking group – hosted the first ‘PMO Managers’ Lunch’. These events bring together PMO Managers, from a number of different industries, to talk in-depth about a particular PMO topic. At this lunch, the subject was “Beyond portfolio reporting – the challenges and reality of portfolio management”.
As organisations look to improve on the returns from strategy development and increase maturity in programme and project management delivery capability, portfolio management has increasingly taken centre stage as a business function to support that. Portfolio management is seen as the ‘glue’ or ‘bridge’ between strategy and strategy execution (delivered by programmes and projects). The PMO or Portfolio Office is the place where portfolio management practices become a reality for an organisation.
1. Portfolio Management is still not understood well enough within organisations
2. The PMO has to become more business focused – more dynamic, strategic and analytical
3. Theoretical portfolio management guidance accounts for only 30% of what is implemented
4. “Doing the right projects and doing the projects right”, the basics of programme and projects still need attention
5. The PMO need skills in relationship management and data analysis – a true combination of hard and soft skills
6. The PMO is both an enabler and a disruptor
7. Portfolio PMO needs a paradigm shift
John McIntyre – Ticketmaster
Chris Walters – Vodafone
Brett Dalby – Met Police
Rachel Cook – Lloyd’s of London
Jane Cosgrove – DHL
Lisa Chellar –Equinix
Stuart Collins – BBC
Harri Sharples – Deloitte
Anke Bysouth – CAFOD
Simon Harwood – IFDS
Julie Black – Ofgem
Ken Burrell – Pragmatic PMO