Every day, businesses are facing new
challenges and new opportunities as well. And without having a proper plan for
prioritizing your working category can waste your investment in, time, energy,
and money respectively.
This is why the organizations are keen to
invest their time in developing efficient strategic plans.
A well-defined strategy reflects the
organization’s experience about its key competitors, market analytical studies,
the future approach and the present strength.
Those organizations, who are already knowledged in project management, are somehow able to provide the necessary bridge between strategic plans and execution progresses.
Enterprise Project Management (EPM) & Its Goal
Now come to the enterprise-level project management. The EPM supplies the critical link between the business’s strategic planning and execution.
By offering the standard organizational methodology for proper planning, executional methods, resource management, prioritizing all project aspects that include in today’s organization workplace.
EPM gives the organization life a new fusion that could have been lacking before.
A decisive enterprise project management goes beyond the traditional project management level. It provides an expanded role that combines the strategic objectives with individual projects and responsibilities.
Here I have mentioned the common goal of the Enterprise Project Management Methodology:
Mentoring and Coaching
EPM with its skill in project management offers to mentoring and coaching the project managers and the team members who are operating in the same project but at different levels.
EPMO may lead the periodical practice and coordinate for industry-level certifications associated with project management.
Enterprise-leveled Strategic Alignment
EPMO
makes sure that the projects that are offered in various divisions of the
organization are arranged to the near and long-term business goal. There by
guaranteeing that the organization is employing money on the ‘right things’.
Value
Management
Often the projects managed by department or
business levels PMOs are part of a higher organizational drive.
At these traditional EPM levels, it’s tricky to estimate the business
purpose of the projects. On the other cards, EPM has a picture of the more
generous organizational leadership which are broken down into various projects.
So EPM is in a position to estimate the substantial and hypothetical
benefits of these actions.
Enterprise
Project management may use methods like ROI, Net Present Value, and
Internal Rate of Return, etc to estimate the profits.
Demand
Management
Enterprise Project Management is accountable for demand forecasting
and organizing the project demand creating from several business problems
developed across the organization.
It becomes a primary position where the request is captured and
categorized into strategic, tactical, or executional demand.
In businesses operating only department normal project management and
not owning the EPMO, there may be a struggle that project A proceeding in the
department i having higher superiority than project B running in another
department.
But EPM ensures that each project has their own priority at this
central office and so there is no friction of delivering priority between
departments on the projects.
Also. resource Management in EPM supports a picture of the resource
available to act on this demand between all departments of the organization.
This inside view of resources at EPM helps in diplomatic resource
planning resulting in cleaner utilization of resources and increase efficiency.
Standardization
Another important responsibility of EPMO is to standardize methods,
processes, project management exercises, and tools that cover the whole
enterprise.
This program secures all the team’s talking points with each other in
a single line and carrying better energy as well.
Coordination between
PMOs
There will be situations where a PMO is encountering a problem that can be fixed by reaching
out to different PMOs.
EPM because of its unique viewpoint, is able to observe the movements
in different PMOs.
Thus they are able to coordinate among different PMOs and enhance the
interaction between various PMOs reporting to the EPMO.
As a result, it becomes an issue-solver with less risk.
Centralized Tracking,
Auditing, and Reporting
EPM has the authority to track the project running elements. It
periodically audits the process to check for compliance with standard
exercises.
EPMO also has the authority to track the portfolios, programs, and
projects. EPMO will periodically also audit these portfolios, programs, and
projects to check for compliance with standard practices.
Having this cluster view, EPMO is in a stage to prepare reports and
dashboards for the enterprise leadership in a better way that helps them to
make critical decisions to steer the ship.
All these project components scroll down under the EPM. So, EMP has a
view of all the projects, programs running across the organization.
Beyond this EPM have common goals for enterprise business.
Read the main article on Orangescrum Community Article.