PMO Best Practices Are No Longer Good Enough

We have a new scenario into all organizations where traditional approaches to Portfolio and Project management are simply not delivering the results that today's businesses require. In fact, poor portfolio and project management performance could be costing your business up to 46% of the planned ROI from your project investment. So what you don't know can affect you negatively.
For example:  Are you aware of annual planning's shortcoming? or do you know why project success rates are typically poor? or even what about the impact of low budget utilization?
PMO teams are feeling the pressure from high management and executives to find better ways to clearly demonstrate their value to the business.
So which would be your next move? Some suggestions would be adopting a more strategic PMO mindset, identify and replace inadequate tools, integrate investment planning and controls to drive financial maturity, move from annual planning to dynamic reallocation, create a culture of empowerment within the PMO, and a cycle of positive transformation, and of course, adopt agile practices when conducting your projects.
The combination of a strategic mindset that takes into account investment planning and financial controls, better tools that help integrate data and processes across the enterprise, and a dynamic process that enable more agile decision-making can lead to a culture shift that literally transforms the PMO into a strategic partner.
Andre de Godoy Nunes

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