A PMO is a software program called the project management office. This is a program that assists the user in delivering a project on time and within budget. The reason it was developed is because the fact that a majority of projects in all industries fail to met one or both of the requirements in budget and time when related to a project.
The most helpful part of the PMO is the project management templates. These templates assist the user in nearly every phase of a projects development, planning and implementation in saving time. This is because the creation of the necessary documents is less time consuming. The templates not only produce a professionally looking document, but are also a guide so all the necessary data is included.
The project templates of the PMO not only saves time, but this can easily be translated into saving money. Since the task of document preparation is reduced, more tasks can be accomplished by the project manager than before in the same time frame.
Along with the project templates, the PMO also has many real life examples of completed documents. This will assist the users in the proper preparation of the documents and shorten the time of attempting to answer the necessary questions.
Inside the PMO is more than just a set of project templates. There is also a monitoring system that can be used by the project manager to keep track of the project once it is in the execution phase. This allows for the manager to keep up to date on the progress of the project and became aware of any issues or problems in the project when they occur. Every problem or delay can cause a project to become over budget or be the reason it is not completed on time. Either is not preferred and the PMO can assist in preventing this.
Some are associating the modern PMO as the new digital assistant to the project manager. Unlike a human assistant, this one is never sick, never complains and never asks for a day off.