Tuesday, April 22, 2008

PMO : Maturity is everything

Implementing a PMO is not a panacea to an organization’s project woes. Instead, it is the maturity of the PMO that makes the difference, according to a new study. As a PMO matures and assumes more responsibility in areas such as portfolio and people management, organizational success metrics improve, elevating the PMO’s value to the organization.

Organizations are increasingly implementing enterprise-wide project/program management offices (PMOs), but at the same time, they are wrestling with newfound challenges, according to a new research report by PM Solutions’ Center for Business Practices (CBP). The State of the PMO 2007-2008 found that 54 percent of respondents said that they have an enterprise-wide PMO in place, up significantly from 35 percent in 2006. In 2000, only 47 percent of respondents had implemented any kind of PMO at all. “The spread and growth of PMOs is a strong indicator that organizations recognize the critical value of successful project management,” said Jim Pennypacker, director of the CBP. “Our research shows, though, that simply implementing a PMO is not enough.

PMOs, like all organisms, need to be nurtured and supported to become effective. A PMO’s value lies in its maturity.”

“As PMOs become more mature, organizational success metrics improve”, he added.

Facts Revealed:

· PMOs have been in place 29 percent longer in high-performing organizations (4.5 years) than in low-performing organizations (3.5 years). High-performing organizations are 30 percent more likely to have steering committees (65 percent) than low-performing organizations (52 percent).

· PMO functions performed significantly more by high-performing organizations include strategy formulation, portfolio risk management, benefits realization analysis, contract preparation, outsourcing, project opportunity process development, resource assignment process development, management of a staff of project planners/controllers and business relationship managers, and resource identification and optimization.

· There is no correlation between project managers reporting to the PMO (as opposed to them just being supported by the PMO) and organizational performance. High-performing organizations have larger PMOs (30 percent more staff) and rely on more specialized roles (they have more staff performing those roles), including mentors (136 % increase), team leads (467 % increase), planners (147 % increase), controllers (116 % increase) and relationship managers (698 % increase).

· PMOs at high-performing organizations are 66 percent more mature than at low performing organizations (average level of maturity is 2.9 vs. 1.7).

In addition to these, we also found that

· Organizations average (median) 31 projects per year. Organizations with a PMO work on more projects per year. PMO budgets range from 0 to $50 million a year (with a median average of $600,000).

· The PMO budget is on average, 1.7 percent of the organization’s budget (median).

· Governance issues top the list of PMO challenges: companies lack the compliance structure to make project management processes consistent throughout the organization, and project leaders still labor under conditions where responsibility and authority are not allied. But as PMOs age and mature, they have fewer challenges and are significantly better at meeting all challenges.


For more information on Research Reports, visit: The Ultimate Renaissance



Saturday, March 22, 2008

Tuesday, February 26, 2008

AIMK Zooming Ahead >>> Pt. 2






















Every year, Army Institute of Management Kolkata, celebrates it's annual B-School Meet in the form of an event called Inferno. It comprises of not one, not two, but a whole lot of exhilarating, spine-tingling, nail-biting episodes, games and contests. To win prizes there is not an easy task. One needs to display his creative instincts, his vigor, his liveliness, his passion for participating and winning a fortune at INFERNO! In a thriller of a quest, one locks horns with the best students from around the region for conquest of the booty – bags full of exciting prizes.

This absolute event took place this year on 23rd February at Volleyball ground of AIMK. The various events that were organized include:

  • LaunchPad: The team has to launch a new product. The launch must cover all the aspects of a real life launch. Basically, sell your idea.

  • Counter Strike: Just Win by defeating your opponents in the world-famous PC game.

  • HR Arthashastra: Case Studies.

  • Quiz Wiz: Show your knowledge.

  • Dress Your Thoughts: Advertisement Special.

  • Wealth Guru: How well can you solve your financial issues?

  • Trade Master: The virtual(on line) stock trading game.

  • Fashion Furore: How fashion-forward are you? (This is the first time such an event has been organized @ Inferno)

Following are some of the colleges which had participated in this Mega Event:

Also, this year has seen a whole lot of sponsors, pitching in to have a chance at providing support to the 3rd Best B-School of Eastern India. The Times of India had been given exclusive coverage rights.

Following are some of the sponsors for the event:

Above are a few snaps of the event. I personally congratulate all the participants, prize winners, and, of course, the brains and the brawns behind this Mega Successful Event.

Saturday, February 2, 2008

The Sleeping Beauty

Fallen for this cruel trick
Asleep by the spindle's prick
Here in the candle lit lair
Lies a maiden snow white fair

Curling strands of raven curls
Like a newly black bud unfurls
Every night the rising moon
Knows that she will die soon

No one has a memory to keep
The whole land's fallen asleep
Through the years the castle is worn
Covered by sharp black rose thorns

But beauty, look love showed through
Ur prince charming is coming for u
But look at how pitifully he bleeds
Pain on his flesh it feeds

But then steps in cruel fate
As soon as he reaches the Gate
Attacked by huge ravens and crows
They tear his flesh from his bones

All that's left are bloody lakes
But alas! No one ever wakes
For broken love no one cries
Even when true love dies

Pieces can't be put together
Sleep beauty, sleep forever....

Sunday, January 20, 2008

Into the Darkness.............

I'm wandering into the darkness of the night
Wondering about my life, what’s wrong & what’s right
My mind is playing wicked games with me
Am blinded by evil thoughts & so I fail to see
The goodness that was once a part of me

No heaven no hell for me as long as I am in my dream
Coz this reality is the biggest nightmare that I can ever dream
My heart bleeds & my flesh burns in my skin
My pain never dies but it continues to live deep within

I close my eyes but I fail to pray
I can see myself slowly fading away
The sun has set a long time ago
I have gone as far as I had to go

The lightning strikes with ever increasing might
I am still clueless about the strangeness of this night
Wandering in the darkness of night, I am all alone
Am still on the lookout for that something unknown

This darkness will take me away with itself
That’s the only way I can redeem myself
And so I still continue to wander into the darkness of the night
Having now realized that two wrongs can never make a right....

 
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