PMO Defined

PMO is an acronym for Project Management Office. It refers to the office, group or department––internal or external to a company––responsible for overseeing, maintaining and ensuring project management standards across an organisation.

Although the exact roles and responsibilities of a PMO differ from organisation to organisation, a PMO is essentially a gatekeeper of best practices––responsible for all documentation, guidance, and metrics relating to project execution while ensuring that projects are completed on time and within budget.

P3O Model

The P3O globally recognised framework helps businesses of all sizes to improve their performance.

P3O stands for Portfolio, Program, Project Office. It may be a single permanent office like a Strategy Planning Unit of the Centre of Excellence (COE) or linked to a set of Offices such as Project Offices or Programme Offices.

Differences Between Projects, Programs and Portfolios

The term 'PMO' can apply to many things (e.g. project management office, program management office and portfolio management office, to name a few). And while all of these entities help businesses achieve their goals and run more efficiently, they operate differently and serve varied purposes.

When evaluating whether to build, fix or optimise a PMO, businesses should first ask themselves what the 'P' in their 'PMO' stands for (project, program, or portfolio), which can encourage them to look at the bigger picture.

Project Management

A project is a temporary endeavour undertaken by a company. Examples include the creation of a new project or the implementation of a new department.

Program Management

A program is a collection of interrelated projects. They are typically managed and coordinated as a group rather than independently.

Portfolio Management

A portfolio is a group of programs and projects within the same organisation. They may be related, but they don't have to be.

In short, projects can fit within more extensive programs, which themselves can fit within portfolios. Although related, project, program, and portfolio management tasks are inherently different.