What does PMO mean in Business?
You may have heard the acronym “PMO” before and are wondering “what does PMO mean in business?”
To put it simply, PMO in Business stands for “Project Management Office” and this office or department is responsible for maintaining the standards for project management within an organization.
The main objective of a PMO is to streamline the process by which projects are managed and completed.
This is done by creating standardized sets of processes, policies, and methods to follow during the management and implementation of projects.
When creating these processes, policies, and procedures, PMO’s should refer to the companies culture and strategy for optimal success.
PMO’s are also responsible for the oversight of projects by checking in on project-related tasks and activities to help see the project through to completion.
They serve as a sort of liaison between project management teams and executive management and are there to report back on project progress, activities, any problems, and any needs or requirements.
PMO’s help keep project management teams as well as executive decision-makers on track towards their objectives and goals.