Five Reasons to Hire an Enterprise PMO

What is an Enterprise Project Management Office?

An EPMO works directly with your Executive Leadership team and offers guidance at the top level of an organization. Unlike a typical PMO, EPMOs are specialized in working with strategy, portfolio management, and program management. An EPMO aids executives when making significant analytical decisions about the strategy and long-term project goals for the organization. This includes proper program and project selection decisions based off of projected return on investment (ROI) and business cases. It is imperative for the EPMO, in collaboration with the executive team, to select the proper strategy and initiatives that are in alignment with the organization’s overall goals, vision, and mission. 

1. EPMOs Bring a Competitive Advantage
   By hiring an EPMO to aid you with your overall portfolio strategy and management, you are not only hiring a team that is enthusiastic and committed to your business’s success, but you are also gaining a team that has broad visibility in various markets.
   
   The Stonehill EPMO team’s experience is large. They bring experience to the table from many different industries and sectors making them a valuable resource to your organization. Stonehill’s EPMO collaborates with your team and aids in managing change management for your organization to launch projects and programs to be competitive in today’s markets. The EPMO works to transform the company strategy into an executable plan. It is led by a member of the Executive Team who has full knowledge of the goals of the organization’s strategy and portfolio goals. The EPMO works with subject matter experts across the organization and focuses on the prioritization of opportunities that will supply the most ROI. 
   

2. Executive Accountability Improves Your Organization’s Performance
   Most of the time, the word “accountability” makes people cringe and implies punishment and negative consequences. If your organization does not have a culture of positive accountability, it may be suffering from inefficiency problems, high turnover, and low company morale.
   
   Stonehill’s EPMO uses a positive approach to accountability to produce valuable results. By coaching your executive team and holding them accountable for the success of their teams and programs, they in return, create a positive workstream. Our EPMO coaches your executive team so they can support employees, check progress towards goals, and supply feedback that includes credible, useful performance measures. The shift in accountability promotes teamwork and motivates demanding work which in return can improve the overall performance of your organization. The EPMO manages finding, tracking, and managing strategic KPIs. This supplies quantitative accountability and works to ensure that projects meet their goals.
   

3. EPMOs Ensure Superior Communication
   EPMOs ensure better communication within your organization resulting in improved decision-making and management. When projects finish within a budget and on schedule, there is an increase in strategic alignment between departments and within the executive team. Moving away from a conventional PMO which works on a program or project level, to an EPMO increases the maturity of the organization. There is also more knowledge sharing, cross-functional learning, and fewer silos.
   
   The EPMO simplifies complex projects and communicates direction and outcomes company-wide. They collaborate with experts across the organization and implement new processes and technologies. A primary goal of the EPMO is to ensure that change is effectively managed, updates are documented, and people are aligned.
   

4. EPMOs Implement Standard Approaches to Portfolio Management
   In regular PMOs, there is not always a standard. The practices, processes, and tools change from project to project and may look different than what the rest of the organization is using. With an EPMO, there is complete alignment with the strategy and long-term goals of the organization. All business initiatives are entirely aligned with the business goals and company vision to reduce waste and in turn, increase your bottom line. Consistency in project management can improve efficiency and result in more cohesive programs and portfolio management. 
   

5. EPMOs Build the Right Team
   The investments managed by the EPMO will affect the entire organization. The EPMO should include representatives from all major areas of the company including product development, manufacturing, HR, Finance, IT, etc. By including leaders from cross-functional areas, the team will supply insight into the requirements of the business and aid in driving positive change. It is formed based on a culture of transparency – making decisions on funding and resourcing in an open environment.