One question with so many answers…..
EPMO, CPMO, PPO, PMO, ABC, 123…. la la la….
Lets start with what it is not…. a Portfolio Office is not about standards, or training, or templates, or dashboard reports…
Although these are activities that a Portfolio Office could class within it’s accountabilities, the main objective should be a commercially driven one; something along the lines of ‘accountable for the business to realise the best value proposition in delivering change that drives the organisations strategic objectives’
Run the Business, Change the Business, Run the Business – this is the reality of ensuring all change adds value in taking the organisation to where it aims to be.
If Portfolio Management states ‘are we doing the right thing‘, then the Portfolio Office should enable the organisation to choose the right things to do, and ensure the best value proposition of these changes are selected, and then executed; always ensuring that they are landed at the right times for the business to take ownership.
Cash flow (budgets) and resources should become a major part of supporting the choosing of the best value propositions, which ultimately become the projects and programmes.
For more information about the Portfolio Office, check out the link below that leads to our page on the Portfolio Office (or copy and paste the link below).