Mentoring and Coaching: EPMOs are tasked with providing all the necessary resources, training and mentoring for program managers, project managers and staff to be able to make the most out of the EPMOs practices and processes.Risk management : EPMOs must access the most accurate and up to date information to appropriately identify, evaluate and mitigate all risks within their portfolios.This entails properly gauging resource capacity and availability, recruiting the right staff and managing team conflict. It typically involves a one-time project rather than an.
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Cost management : EPMOs are in charge of applying effective cost management measures to ensure projects are properly financed and costs are efficiently and effectively managed.Performance management : EPMOs are tasked with increasing an organisation’s performance by providing necessary consultancy to improve processes, defining and controlling KPIs and providing data and reports to effectively communicate performance to key decision makers.Communication and stakeholder management : EPMOs ensure that stakeholders are constantly engaged and their expectations are met.Benefits management : EPMOs ensure that benefits are identified, justified and achieved throughout the portfolio.Project governance and process analysis : define and implement governance frameworks across the entire organisations, vertically and horizontally, and continually analysing processes to better optimise them.Portfolio Management : EPMOs are in charge of defining initiatives as well as facilitating and supporting project and programme selection and prioritisation according to the strategic plan.Strategic Management : EPMOs help facilitate the development of strategic plans and tactical master plans as well as ensuring that all portfolios, programmes and projects are strategically aligned.Traditional PMOs are often uninvolved in the overall demand management at an organisational level making it difficult to effectively forecast the organisation’s future demand pipeline.With different PMO teams running their own processes and practices, the organisation may lack complete standardisation with their project execution processes, leading to future inconsistencies and inefficiencies.This lack of visibility to the top-level executive can have the added impact of reducing leadership buy-in to the PMO's initiatives and activities.
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