Focused Value Delivery for Creating a High-Performing PMO

Last month, I shared Tip 2: Establish Strong Governance and Standards, which is essential for ensuring that projects are executed consistently, efficiently, and in alignment with the organisation’s strategic goals.

This month, we’ll explore the importance of Focused Value Delivery to ensure that every project under the PMO’s (Project Management Office) oversight contributes tangible and meaningful benefits to the organisation, directly supporting its strategic objectives and maximising the return on investment. 

Tip 3: Focused Value Delivery

Focusing on value delivery ensures that every project under the PMO’s oversight contributes tangible and meaningful benefits to the organisation, directly supporting its strategic objectives and maximising the return on investment. By keeping value delivery at the core of its operations, the PMO ensures that resources are used effectively and that projects make a real difference to the organisation’s success.

Prioritise Projects: The first step in delivering value is prioritising projects that offer the greatest potential impact. The PMO should develop a process for evaluating and selecting projects based on criteria such as alignment with the organisation’s goals, expected financial return, risk level, and resource needs. For example, if the company’s strategy is focused on growth, the PMO might prioritise projects that drive revenue, such as launching new products or expanding into new markets. By concentrating on high-impact projects, the PMO ensures that time, money, and resources are directed towards initiatives that benefit the organisation most.

Define Value: Understanding and defining what value means for each project is crucial. This could mean financial benefits, like increased revenue or cost savings, or non-financial outcomes, like enhanced customer satisfaction, improved efficiency, or compliance with regulatory requirements. Working closely with stakeholders to define these value targets ensures that everyone is on the same page regarding what success looks like. Clearly defined value helps set realistic objectives, guide decision-making, and provide a benchmark against which progress can be measured.

Measure Success: The PMO should establish clear metrics or key performance indicators (KPIs) to ensure that projects deliver the expected value. These might include cost savings, revenue increases, or improved customer satisfaction. Regularly tracking these metrics lets the PMO see if the project is on track. If things aren’t going as planned, the PMO can step in to make necessary adjustments. This helps keep projects aligned with their goals and ensures they deliver the intended benefits to the organisation.

Realise Benefits: Focusing on value doesn’t stop when a project is completed. The PMO should ensure that the project's intended benefits are fully realised and integrated into the organisation’s operations. This might involve ensuring that new systems or processes are properly implemented, that staff are trained on new tools, or that customers know about new offerings. A clear benefits realisation plan can help track the long-term impact of a project, confirming that the anticipated value is being achieved and sustained over time.

Continuous Improvement: To continually enhance value delivery, the PMO should foster a culture of continuous improvement. After each project, the PMO should thoroughly review what worked well and what could be improved. Gathering project teams' and stakeholders' feedback provides valuable insights that can be used to refine Project Management practices, improve future project selection, and ensure that the PMO consistently delivers maximum value.

In summary, focusing on value delivery means the PMO isn’t just managing projects to finish them but is actively helping the organisation succeed. By choosing the most important projects, clearly defining what success looks like, tracking progress, ensuring the benefits are achieved, and always looking to improve, the PMO strengthens its role as a key partner in driving projects that bring real, lasting value to the organisation.
 

Tip 4: Stakeholder Engagement Learn more