There are many benefits to using outsourced project management offices, the main one being that they can dramatically improve the outcomes of projects. They can do this because they have specialist expertise, resources and methods at their disposal that have enabled them to succeed in the past.
PMOs apply battle-tested, highly refined frameworks to project management, such as Agile and Waterfall, and they know which ones work best with which projects. In this article, we discuss the many benefits of outsourced PMO and discuss how you can use it to improve the outcomes of your projects.
Using an outsourced PMO can improve the efficiency of your project management in many ways. They allow you and your staff to take a back seat while dedicated professionals work on tasks and deliver outcomes. It also means you don’t have to invest time and money into training and technological resources. You can access the exact types of skills and expertise that you need for a particular project by outsourcing, as outsourced project management teams comprise professionals with a range of skills. Time is also saved through outsourcing, as these teams come into your organisation knowing what to do and how to do it.
Outsourced project managers define their success based on the ROI they achieve for their clients, so you can expect an excellent ROI when outsourcing PMO functions. Because they also bring outside perspectives and fresh ideas to your projects, you can expect greater output, too. By applying the best technology and strategic knowledge, outsourced PMOs can maximise your budget whilst achieving the best possible outcomes.
Reduced risk to your business
There are always risks associated with undertaking new projects, and some of these can be mitigated by outsourcing. You don’t run the risk of staffing your PMO with the wrong individuals and ending up with unacceptable deliverables. The risk of going beyond time and budgetary restrictions is also significantly reduced or eliminated entirely through outsourcing. This is because outsourced PMOs have a clearly defined budget and time limit contained in a contract, meaning they won’t exceed the limits without a new contract. All the costs you incur will buy you the deliverables that you outline in the contracts.
Your business is protected by contractual SLAs
When contracting a PMO, you’ll establish various Service Level Agreements (SLAs), which set expectations for contractors. This means you can hold them accountable if they fail to meet your expectations and you can reward them if they do. The SLA means the outsourced PMO is obliged to deliver that which they have promised to deliver or else you don’t have to pay them. Meaning that whatever problems arise on the contractor’s end, you don’t have to worry about it, because they are responsible for holding up their end regardless.
How to get started with outsourced PMO
If these benefits sound interesting to you, get in touch with us today and we can discuss how you can move forward and start improving your project management.