The Fast Forward MBA in Project Management, 6th Edition

CHAPTER 21Enterprise Project Management: Align Projects with Strategy

INTRODUCTION

In Chapter 1, we observed that the world of work is changing to become more project oriented. The pace of change is increasing and more organizational resources are devoted to projects. Yet each project is unique, which makes managing many projects much more challenging. Firms or departments with so many projects must have a cohesive method for selecting, initiating, and overseeing groups of related projects. We call this multi‐project focus enterprise project management (EPM), managing all the projects in the enterprise.

As the need for EPM became more widespread, the common response has been the project management office, or PMO. A PMO may consist of a single person or a large group of people, depending upon the number and size of their projects. The PMO is tasked with creating and maintaining the processes and technology that sustains EPM.

Chief among the benefits of enterprise project management is the alignment of projects with strategy. Individually, any project may present the potential for added value to the firm. Limited resources, however, demand that the firm reject some good ideas. Instead, it must select only the best projects and give those projects the focus and resources that will make them successful.

This chapter will examine the most common approaches to enterprise project management and the duties of a project management office.

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