Every day, businesses are facing new challenges and new opportunities as well. And without having a proper plan for prioritizing your working category can waste your investment in, time, energy, and money respectively.
This is why the organizations are keen to invest their time in developing efficient strategic plans.
A well-defined strategy reflects the organization’s experience about its key competitors, market analytical studies, the future approach and the present strength.
Those organizations, who are already knowledged in project management, are somehow able to provide the necessary bridge between strategic plans and execution progresses.
Enterprise Project Management (EPM) & Its Goal
Now come to the enterprise-level project management. The EPM supplies the critical link between the business’s strategic planning and execution.
By offering the standard organizational methodology for proper planning, executional methods, resource management, prioritizing all project aspects that include in today’s organization workplace.
EPM gives the organization life a new fusion that could have been lacking before.
A decisive enterprise project management goes beyond the traditional project management level. It provides an expanded role that combines the strategic objectives with individual projects and responsibilities.
Here I have mentioned the common goal of the Enterprise Project Management Methodology:
Mentoring and Coaching
EPM with its skill in project management offers to mentoring and coaching the project managers and the team members who are operating in the same project but at different levels.
EPMO may lead the periodical practice and coordinate for industry-level certifications associated with project management.
Enterprise-leveled Strategic Alignment
EPMO makes sure that the projects that are offered in various divisions of the organization are arranged to the near and long-term business goal. There by guaranteeing that the organization is employing money on the ‘right things’.
Value Management
Often the projects managed by department or business levels PMOs are part of a higher organizational drive.
At these traditional EPM levels, it’s tricky to estimate the business purpose of the projects. On the other cards, EPM has a picture of the more generous organizational leadership which are broken down into various projects.
So EPM is in a position to estimate the substantial and hypothetical benefits of these actions.
Enterprise Project management may use methods like ROI, Net Present Value, and Internal Rate of Return, etc to estimate the profits.
Demand Management
Enterprise Project Management is accountable for demand forecasting and organizing the project demand creating from several business problems developed across the organization.
It becomes a primary position where the request is captured and categorized into strategic, tactical, or executional demand.
In businesses operating only department normal project management and not owning the EPMO, there may be a struggle that project A proceeding in the department i having higher superiority than project B running in another department.
But EPM ensures that each project has their own priority at this central office and so there is no friction of delivering priority between departments on the projects.
Also. resource Management in EPM supports a picture of the resource available to act on this demand between all departments of the organization.
This inside view of resources at EPM helps in diplomatic resource planning resulting in cleaner utilization of resources and increase efficiency.
Standardization
Another important responsibility of EPMO is to standardize methods, processes, project management exercises, and tools that cover the whole enterprise.
This program secures all the team’s talking points with each other in a single line and carrying better energy as well.
Coordination between PMOs
There will be situations where a PMO is encountering a problem that can be fixed by reaching out to different PMOs.
EPM because of its unique viewpoint, is able to observe the movements in different PMOs.
Thus they are able to coordinate among different PMOs and enhance the interaction between various PMOs reporting to the EPMO.
As a result, it becomes an issue-solver with less risk.
Centralized Tracking, Auditing, and Reporting
EPM has the authority to track the project running elements. It periodically audits the process to check for compliance with standard exercises.
EPMO also has the authority to track the portfolios, programs, and projects. EPMO will periodically also audit these portfolios, programs, and projects to check for compliance with standard practices.
Having this cluster view, EPMO is in a stage to prepare reports and dashboards for the enterprise leadership in a better way that helps them to make critical decisions to steer the ship.
All these project components scroll down under the EPM. So, EMP has a view of all the projects, programs running across the organization.
Beyond this EPM have common goals for enterprise business.
Main Article Source: Orangescrum Enterprise Article.
The term has been used as validating the number of actions that aimed to improve the management effectiveness rather than following a single project or a static scope of an individual project management methodology.
These includes: Integration of project management office to departmental levelMerging of multiple and versatile projects using advanced project management softwareImprovement of project management capabilities using the organizational “stages of growth” models An enterprise project management incorporates all these parts.
EPM is a working environment for project managers, including rules and processes designed to uplift the effectiveness of the DO as a whole.
However, EPM is more further than just the integration of project management software, it presents charting of error statistics as well.
The key characteristics of EPM include:Strategical arrangements of the project’s components with both strategy and visual level of each individual project.The priority-based choice of selection and scheduled health checks of project investments.Multi-project syndication and reporting through project management tools.
Let’s elaborate more; The Strategic Integration: This top-level of any enterprise project management model that represents the strategic level of an organization.
Goals, Objectives, Strategy and Tactics and the terms that are often mistaken for one other and you need to have a deeper understanding of what they mean.
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