4 Guiding Principles of an Effective PMO – Finding the Sweet Spot
We outline the four guiding principles of an effective PMO, emphasizing cultural alignment, resource allocation and flexibility.
Even the best strategies are worthless until they deliver results. Our strategic portfolio management consulting services can help you maximize value delivery.
A quick internet search reveals dismal prospects for business strategies:
- According to Harvard Business School Online, “48 percent of all organizations fail to meet at least half of their strategic targets.”
- In a report from the Economist Intelligence Unit, “61 percent of firms struggle to bridge the gap between strategy formulation and day-to-day implementation.”
- “Some 87 percent of businesses fail to execute their strategy each year,” according to zenbusiness.com,
- “Failing to execute organizational strategy is common—90 percent fall short,” as stated by medium.com.
These statistics tell a troubling story. Out of 10 companies, five to nine will fail to reach their goals. Their failure is not necessarily due to problems with strategic planning, but more likely due to problems with strategic execution.
Enterprise-wide portfolio, program and project management (PPM) can decrease your risk and increase your reward when executing strategy. Savvy portfolio leaders view every project and program as an investment in the business’s success. Their strategic recommendations empower businesses to make data-driven decisions, develop a competitive portfolio, and maximize value delivery.
When you embrace PPM at an enterprise level, your business can translate high-level strategies into an action-oriented and results-driven portfolio of projects that rapidly adjust to changing circumstances while delivering successful outcomes.
Strategies become worthwhile when they bring about valuable results as promised. And Enterprise Portfolio and Program Management can help your business deliver on its promises.
