The ever competitive scenario has forced companies to diversify their work domains. The companies are handling number of projects at the same time. But at times, this becomes pretty complex to manage. So in order to simplify this, Dr Madhukar Angur, Chancellor, Alliance University, recommends using EPMO. EPMO is Enterprise Project Management Organization which is a common approach to manage projects and concerned resources in an organization. EPMO is centered on 4 major objectives:
- People: Before adopting EPM, an organization must ensure that the staffs, from higher level management to lower division executives, all have a need of switching to EPM from the conventional way of executing projects. And once the need has been decided upon, the organization must make sure the employees are trained properly to optimally utilize the benefits of EPMO.
- Process: EPMO utilizes a common approach to identify the goals and objectives of a project. Then it plans the strategies and controls execution. Process needs to incorporate a company’s objectives, citing new opportunities and making necessary changes.
- Technology: It is important for organizations to support EPMO with appropriate technology. Obsolete technology will dampen the efficiency and if too advanced, technology will largely go unused. There is a need to supplement desired technology in order to handle the projects properly. Planning, Resource Management, Cost Control, Templates and document management will largely depend upon the type of technology used in the EPMO.
- Structure: Madhukar Angur believes that this is the aspect which serves as the heart of the EPMO. The EPMO should be designed in such a manner that it penetrates all the needed levels of the management hierarchy and takes care of the all the stages involved in the project.