Assignment: Project Portfolio Management Governance
PMO has historically stood for project management office. The acronym has been expanded to also mean program management office and portfolio management office. For the purposes of this course, PMO is assumed to mean portfolio management office. There are many ways that a PMO can be implemented, and this will differ based on the nature of the business, the current organizational structure, and the extent to which an organization wants to grant responsibility and authority to the PMO. These factors will also determine the specific functions of the PMO.
For this Assignment, choose one of the PMO models from this week’s Learning Resources. Prepare a 2- to 3-page paper that addresses these items:
- What type of organization would most likely choose the model? Explain.
- What level of responsibility and authority would the PMO have?
- What would be the functions of the PMO?
- What specific project portfolio management processes would the PMO perform?
- What challenges might be encountered in implementing the PMO?