Portfolio Project Section 3 – PMO Recommendations The purpose of the Portfolio Project is to synthesize current research about the project management office (PMO) for the purpose of developing a PMO r

Portfolio Project Section 3 – PMO Recommendations The purpose of the Portfolio Project is to synthesize current research about the project management office (PMO) for the purpose of developing a PMO r
Portfolio Project Section 3 – PMO Recommendations The purpose of the Portfolio Project is to synthesize current research about the project management office (PMO) for the purpose of developing a PMO recommendation. The Portfolio Project is structured to help you demonstrate understanding of the course material, as well as the implications of new knowledge gained from research beyond the course readings and lectures. Your Portfolio Project will be developed in three independent but cohesive sections, which considered in whole constitutes your PMO recommendation. The three sections are: Section 1: Subject Organization and Rationale Section 2: PMO Mission, Charter, and Competency Section 3: PMO Recommendations Sections 1 and 2 will be submitted as Portfolio Project milestones in Modules 3 and 6, respectively. Section 3 will constitute your final Portfolio Project assignment, which due at the end of the course in Module 8. Based on your Section 1 choice, one of the two PMO recommendation options will be performed for your Portfolio Project assignment, which are described as: Option #1: Recommendation for the implementation of a new PMO – or – Option #2: Recommendation for the advancement of an existing PMO For Section 1 (submitted in Week 3): Subject Organization and Rationale of the Portfolio Project, you are required to select a subject organization for developing a PMO recommendation. The subject organization must have an international/global aspect and may be your workplace, an organization that you are familiar with, or an organization that is based on your research. For Option 1, the subject organization must exhibit the characteristics and attributes of a viable candidate for benefiting from a PMO. For Option 2, the subject organization must exhibit a functioning PMO as qualified by the PMO competency continuum. A key aspect of the Portfolio Project Section 1 is to secure instructor approval for the Portfolio Project subject organization selected, which is required before commencing with subsequent Portfolio Project sections. Based on your research of the subject organization, substantively address the following key elements: Subject organization information: Organization name Organization’s mission, vision, and values statement Industry type and organization demographics Description of organization’s culture Executive sponsor and key stakeholders PMO business case: Assessment of existing project management: Project management methods Project management tools Project management experience Project management maturity Perceived PMO benefits for the organization: Overarching business rationale Long term measurable goals (2-3) First year specific goals and metrics Quantified value proposition (short and long term) For Section 2 (submitted in Week 6): PMO Mission, Charter, and Competency of the Portfolio Project, you will build on the information detailed in your Portfolio Project Section 1. Based on analysis of your subject organization and further research, purpose the PMO’s mission and vision, PMO charter, and PMO competency continuum stage resultant from your Option 1 or Option 2 recommendation. To this end, substantively address the following key elements for your subject organization’s PMO recommendation: Develop the PMO’s Mission and Vision including: State the PMO’ mission and vision. Validate alignment with subject organization’s mission and vision. Designate key PMO stakeholders. Develop the PMO’s Charter: State the PMO’s business purpose. Describe the PMO’s business alignment and affiliation. Designate the PMO’s empowerment authority. Describe the PMO’s fiscal management. Identify the Charter approval. Relate to the PMO competency continuum Designate the PMO competency continuum stage. Justify the subject organization’s designated PMO competency continuum stage determination. Correlate the designated PMO competency continuum stage to the Organizational Project Management Maturity Model (OPM3). For Section 3 (submitted in Week 8): PMO Recommendations of the Portfolio Project, you will build on the information detailed in your Portfolio Project Sections 1 and 2. Based on analysis of your subject organization and further research, develop either Option 1 or Option 2 recommendations for key aspects of the PMO that optimally support the subject organization’s PMO framework as designated in Section 2. To this end, substantively address the following key elements for your subject organization’s PMO recommendation: Designate recommendations, with appropriate rationale, for each of the following PMO key elements: PMO type PMO structure PMO culture PMO project methods PMO project tools PMO governance PMO risk management PMO business integration PMO global challenges Other relevant PMO considerations Recommend professional development for PMO advancement Apply aspects of the project manager competency development (PMCD) framework for the PMO’s professional development. Designate professional certification requirements. Describe mentorship role. Identify project and portfolio leadership Submit your Section 3 Portfolio Project final assignment as a single Microsoft Word document to the Module 8 submissions area established for this purpose. Your essay should address the following requirements: Your well-written PMO recommendation essay thesis should be 8-10 pages in length, which does not include the title, reference, or appendix pages. You need to add headings and subheadings associated with each of the bullet points listed in the Section 3 requirements. Format your presentation according to APA guidelines in the CSU Global Writing Center (Links to an external site.), which should include an introduction and conclusion. Include title and reference pages. In addition to your course textbook, cite at least four current (published within the past 5 years) scholarly resources (peer-reviewed, official governmental reports, and other scholarly source) to support your suppositions, assertions, and conclusions. To enhance your learning experience, scholarly resources are available from the CSU Global Library (Links to an external site.). Include an appendix for tables and figures as appropriate. Please write clearly, concisely, and cohesively; use section level headers to organize the key elements of your thesis. PJM560 Mod 8 PP PJM560 Mod 8 PP Criteria Ratings Pts This criterion is linked to a Learning Outcome Requirements 15 to >12.0 pts Meets Expectation The Portfolio includes all of the required components, as specified in the assignment. 12 to >9.0 pts Approaches Expectation The Portfolio includes most of the required components, as specified in the assignment. 9 to >6.0 pts Below Expectation The Portfolio includes some of the required components, as specified in the assignment. 6 to >0 pts Limited Evidence The Portfolio includes few of the required components, as specified in the assignment. 15 pts This criterion is linked to a Learning Outcome Content 20 to >16.0 pts Meets Expectation Demonstrates strong or adequate knowledge of the issue, construction material strategies and concepts; correctly represents knowledge from the readings and sources. 16 to >12.0 pts Approaches Expectation Some significant but not major errors or omissions in demonstration of knowledge. 12 to >8.0 pts Below Expectation Major errors or omissions in demonstration of knowledge. 8 to >0 pts Limited Evidence Fails to demonstrate knowledge of the materials. 20 pts This criterion is linked to a Learning Outcome Critical Analysis 20 to >16.0 pts Meets Expectation Demonstrates strong or adequate analysis, interpretation, and evaluation of course concepts regarding PMO recommendations, with appropriate rationale, for each of the PMO key elements. Includes strong analysis regarding recommendations of professional development for PMO advancement. 16 to >12.0 pts Approaches Expectation Some significant but not major errors or omissions in analysis, interpretation, and evaluation. 12 to >8.0 pts Below Expectation Major errors or omissions in analysis, interpretation, and evaluation. 8 to >0 pts Limited Evidence Fails to provide critical analysis, interpretation, and evaluation of the information given. 20 pts This criterion is linked to a Learning Outcome Synthesis and Evaluation 30 to >24.0 pts Meets Expectation Demonstrates strong or adequate synthesis and evaluation of course concepts regarding the recommendations for key aspects of the PMO that optimally support the subject organization’s PMO framework. 24 to >18.0 pts Approaches Expectation Some significant but not major errors or omissions in synthesis and evaluation. 18 to >12.0 pts Below Expectation Major errors or omissions in synthesis and evaluation. 12 to >0 pts Limited Evidence Fails to demonstrate synthesis and evaluation. 30 pts This criterion is linked to a Learning Outcome Sources 10 to >8.0 pts Meets Expectation Cites and integrates at least 4 credible and current (published within the past 5 years) scholarly resources (peer-reviewed, official governmental reports, and other scholarly source). 8 to >6.0 pts Approaches Expectation Cites and integrates 3-4 credible sources. 6 to >4.0 pts Below Expectation Cites and integrates 2-3 credible source. 4 to >0 pts Limited Evidence Cites and integrates less than 2 credible sources. 10 pts This criterion is linked to a Learning Outcome Application of Source Material 10 to >8.0 pts Meets Expectation Sources well or adequately chosen to provide substance and perspectives on the issue; knowledge from the course linked properly to source material. 8 to >6.0 pts Approaches Expectation Some significant but not major problems with selection and linkage of sources. 6 to >4.0 pts Below Expectation Major problems with selection and linkage of sources. 4 to >0 pts Limited Evidence Source selection is seriously flawed; no linkage to knowledge from the course. 10 pts This criterion is linked to a Learning Outcome Organization 20 to >16.0 pts Meets Expectation Project is clearly organized, well written, and in proper format. Conforms to project requirements. 16 to >12.0 pts Approaches Expectation Small number of significant but not major flaws in organization and writing; is in proper format. In a minor way does not conform to project requirements. 12 to >8.0 pts Below Expectation Major problems in organization and writing; does not completely follow proper format. In a significant way does not conform to project requirements. 8 to >0 pts Limited Evidence Project is not well organized or well written and is not in proper format. Does not conform to project requirements. 20 pts This criterion is linked to a Learning Outcome Grammar and Style 20 to >16.0 pts Meets Expectation Strong sentence and paragraph structure; few or no minor errors in grammar and spelling; appropriate writing style; clear and concise with no unsupported comments. 16 to >12.0 pts Approaches Expectation Small number of significant but not major errors in grammar and spelling; generally appropriate writing. 12 to >8.0 pts Below Expectation Inconsistent to inadequate sentence and paragraph development; work needed on grammar and spelling; does not meet program expectations. 8 to >0 pts Limited Evidence Poor quality; unacceptable in terms of grammar and/or spelling; inappropriate writing style that interferes with clarity. 20 pts This criterion is linked to a Learning Outcome Demonstrates proper use of APA style 30 to >24.0 pts Meets Expectation Project contains proper APA formatting, according to the CSU Global resources on APA citation style, with no more than one significant error. 24 to >18.0 pts Approaches Expectation Few errors in APA formatting, according to the CSU Global resources on APA citation style, with no more than two to three significant errors. 18 to >12.0 pts Below Expectation Significant errors in APA formatting, according to the CSU Global resources on APA citation style, with four to five significant errors. 12 to >0 pts Limited Evidence Numerous errors in APA formatting, according to the CSU Global resources on APA citation style, with more than five significant errors. 30 pts Total Points: 175
Portfolio Project Section 3 – PMO Recommendations The purpose of the Portfolio Project is to synthesize current research about the project management office (PMO) for the purpose of developing a PMO r
PMO METHODS AND TOOLS PMO Methods and Tools Gilda Paura PJM560 – Project Management Office (PMO) Colorado State University – Global Campus Dr. Steven Powelson September 30, 2021 PMO Methods and Tools There must be clearly outlined frameworks for a project to turn out well. These frameworks dictate what to be done and allow flexibility to meet various eventualities while also meeting the organization’s needs. Flexibility, although is good in tackling unprecedented occurrences, can cause delays to project completion deadlines and the quality-of-service delivery. An organization’s project management office is responsible for formulating methodology, tools, processes, and techniques for every project undertaken by the organization. Methodology and PMO Context Methodologies are practices or procedures used in performing tasks. In the context of project management, methodologies are systems and strategies deployed in performing and executing projects. There are five project management office functions recognized by Hill. Infrastructure, practice management, resource integration, technical support, and business alignment (Ko et al., 2015). All these PMO functions have four subdomains. There is the PMO’s ability to evaluate and select the most suitable management methodology in practice management. Methodologies are approaches repeatedly implored to manage projects. Methodologies can be easily be mistaken for framework, and frameworks are more flexible guides to management. According to Ruday, methodology encompasses methods, responsibilities, tools, stages, and techniques that can be remodeled to meet organizational needs. However, it indicates what, when, where, why, and how something should be done. A PMO’s primary function is to ensure the smooth running of a company project in the most efficient way. A PMO should, however, go beyond the boundaries of time taken and costs incurred. At project management’s center is the workforce; therefore, the need to formulate different modes of appraisal to include relevant KPIs, performance metrics, and communication channels. Methodologies are not blanket formulations for every organization. Therefore, the project management office needs to take as much time as possible to develop the most efficient project management methodologies. It is better to spend sufficient time choosing a suitable methodology than implementing one that would not work at the expense of time ad funds. It is, however, absurd that individuals keep making these mistakes even with the available information. There are many methodologies at the disposal of PMOs, with the most common being agile, waterfall, and critical path. Methodologies also are placed in a continuum between predictive, iterative, incremental, and elegant. Predicative is the most structured of them all, while agile offers the most significant level of flexibility. Waterfall Method This method is among the oldest techniques in project management. This method follows a laid-out procedure that must be strictly followed (Arnaz-Pemberton, 2019). This is an advantage as it gives the PMO way forward for the execution of plans. It also provides the execution with the team some power. However, this translates to more stringent rules and is quite labor-intensive at the start of the project. Critical Path Method This methodology sets clear objectives and goals for the project. It establishes a project model which includes the division of labor factor. CPM gives the execution team the liberty of determining the timeframe and deadlines for the completion of projects. CPM requires serious work before the project’s onset as the teams involved need to define project deadlines and delays. The units can consider task interactions and deliverables. Agile Methodology As the name suggests, agile methodology is more flexible than the critical path and waterfall methodologies. This is the most efficient methodology keeping in mind the different technological advancements in the current world. Agile project management allows for open and trustworthy communications, which boosts timeframes otherwise be wasted on other fronts (Cleto Carneiro, 2020). This method advocates for transparent communication chains, thus proving human capital centered on its superiority to man. Tools and PMO Context Irrespective of the approach utilized, projects can’t be finished effectively without the appropriate tools. Therefore, the practice administration role is larger than just procedures and comprises tools (Hill, 2013). As with the approach, several project management tools exist. They ought to be chosen according to their appropriateness for the project in question. The project management purpose is vital to the choosing of project tools and their integration. Tools make it probable for the PMO to supervise and permit the maximum success level effectively. Various tools can be harnessed for differing project pieces—for example, project environment support, document management, project planning and oversight, and business systems. Tools at the disposal of project managers include spreadsheets, chat rooms, timesheets, cost management applications, among others. There are many tools used in performing project management functions. PMO’s responsibility is to evaluate and choose which tools are relevant in the organization and can deliver maximum value. Tools It is the responsibility of project managers to evaluate, select and integrate project management tools. At their disposal are paper tools and software applications. The choice of a tool should be based on its ability to perform the intended functions, thus meeting the organization at its needs. This informs the need to seek guidance and reviews from those who have experienced such tools firsthand to make informed and helpful decisions. After that, PMOs are charged with the responsibility of acquisition, training, and incorporation of the system into the available tool (Szalay et al., 2017). PMO Competency Continuum Like all other methodologies, PMOs are created to perform different functions and meet different needs. In this context, the PMO competency continuum is formulated (Hill, 2013). The proposed continuum comprises five functionality levels built from the lowest to the highest: project office, essential PMO, standard PMO, advanced PMO, and center of excellence. The continuum is transitional since proceeding to the next level requires one to meet the requirements of the previous story. This explains the diverse nature of every organization’s PMO. This criterion was first used in government-funded projects. Case Study: Integration of PM Methodologies The variety of PMO methodology and tools gives teams a choice according to their organizational needs. Every situation and project is different; hence no method suits every scenario. A PMO methodology must therefore suit all organizational needs and meet the project’s requirements. There is no specific reason for creating a project management office, hence the absence of an evaluation system. Research was conducted to evaluate the values added to an organization by assessing the achievements made in the presence of a PMO. This was then compared to the period in which the PMO was missing. The study found that a PMO primarily affected company processes positively, from the value of projects to improving company performance. Therefore, PMO effectiveness and value can be quantified and adjustments made. Ethical consideration The methodologies are necessary to properly execute project activities uninterruptedly with as much ethical efficiency as possible. An effective PMO gives the team players a way forward on what actions they should undertake and what is expected. International PMO Challenges A project management office should be mobile and flexible to meet the ever-evolving markets and economies. It should therefore readjust to meet the different needs that occur each day. Additionally, lack of skills and staff is another challenge. Mostly, staffing gaps in PMO are filled by individuals who wear various hats, which can be fine at first. But, with time, this becomes a problem as various combinations of skills are required. This also presents a challenge in scaling up as the workers are pressured. Moreover, PMOs are faced with the absence of perceived value. The senior management challenges PMOs regarding their value and function. As a result, PMO managers ought to ensure that the entire company knows their contributions. The next challenge is associated with the unavailability of expertise, especially when working on Agile projects. These projects need processes and skillsets that are different. Thus, the PMO must ensure that there is support available to manage such projects. Conclusion Proper execution of project management functions is vital for project management and subsequent Project management office efficiency. Not all cases are similar hence the need for assessment and decision for the most suitable processes and tools. However, it is essential to note that tools implored could be ineffective if correct methodologies are not employed simultaneously. References Arnaz-Pemberton, E. R. (2019). The Project Management Office (PMO). In The Practitioner’s Handbook of Project Performance (pp. 205-209). Routledge. Cleto Carneiro, H. (2020). The changing roles of the PMO with the introduction of agile ways of working: An exploratory research. Hill, G. M. (2013). The complete project management office handbook (3rd Edition). Auerbach Publications. Ko, J. H., Park, S. H., & Kim, D. C. (2015). Efficiency analysis of project management offices for large-scale Information System Projects: Insights for Construction Megaprojects. Construction Economics and Building, 15(3), 34-47. Szalay, I., Kovács, Á., & Sebestyén, Z. (2017). Integrated framework for project management office evaluation. Procedia engineering, 196, 578-584.
Portfolio Project Section 3 – PMO Recommendations The purpose of the Portfolio Project is to synthesize current research about the project management office (PMO) for the purpose of developing a PMO r
Running head: SUBJECT ORGANIZATION AND RATIONALE Subject Organization and Rationale October 1, 2021 Subject Organization and Rationale The project portfolio is one of the essential tools that big organizations use to monitor their projects. The portfolios can also be used to establish centralized management for the project being undertaken by the business. It is easy for a company to trace a problem in a given project run by a project portfolio (Miller, 2017). This is because the portfolio usually contains a collection of assets, investment products, and other items the business might use in the project. This discussion focuses on the advancement of the PMO that is in existence in Walmart. In any business, there is usually a project management team. This team consists of people given the mandate of ensuring the success of the organization’s project. However, some companies prefer to have people or another team managing the project managers. The primary role of the project management office is to ensure that the project managers work accordingly to ensure the success of a given project. Someone else could argue that a project management office acts as double management for a project. Organization Information An example of one international company that uses PMO in its management is Walmart. Walmart is a retail enterprise dealing in a variety of goods ranging from household to heavy machinery. It has up to 6,000 operating stores outside the US and has an online shopping platform for its customers. A PMO is, therefore, necessary to oversee the scale of operation of its business projects. Mission The mission of Walmart is “helping people around the world save money and live better – anytime and anywhere – in retail stores and through e-commerce.” The company has since then been striving to work towards this mission. Walmart saw a gap in the retail market. Their goal was to be the largest online marketing firm around the globe (Corporate.walmart.com, n.d.). The secrets to the success of this company can be attributed to the kind of management structure it has. Vision The vision of the company has a close relationship with the mission. The vision of Walmart is to “make every day easier for busy families.” Walmart sees busy families as the strong-holds in their business strategy. The management realized that most busy families are not able to go shopping by themselves. They, therefore, introduced online shopping to help their customers shop without going to the retail shops. Another service Walmart introduced was the delivery of goods to its customers. This made it more accessible as more customers were willing to pay for delivery charges rather than shop by themselves. This created a good business strategy for this company. Value Statements The company, Walmart, has four significant value statements geared towards offering the best for the customers. The first value statement for this company is served to customers. This value, from the beginning, is just an attraction for customers. The simplified meaning of this value statement is that customer is always the priority. The second value statement for Walmart is respect for individuals. Respect in this perspective is to the customers. As mentioned earlier, Walmart has its customers as its priority. The respect should then be mutual for the employees. There is a common tendency in most companies that respect is, in most cases, upward and not downward. By upward, it means the employees only have respect for the management and senior-most employees. They, however, have no respect for those below them. Walmart saw a loophole in that and decided to gear its operations towards promoting respect for all employees. The third value statement of Walmart is striving for excellence. This company saw a gap in other companies and decided to be the best among the best. The last value statement is acting with integrity (Hanbury, 2020). This is tailored to the employees. With integrity, the company can reduce fraud and embezzlement of funds which might lead to the collapse of the business. Industry Type Walmart is in the retail industry and deals in various goods with after-sale services such as delivery for the goods ordered. It is important to note that since the store’s opening, Walmart has opened more than 5700 stores in the United States. The industry has attracted millions of shoppers. It is important to note that Walmart is the largest retailer in the US and the world. The industry has grown significantly in the past 13 years. Walmart has been in the limelight because of the increase in customers, profits, retail stores, to mention a few. Organization Demographics Currently, Walmart has about 6,000 stores, with the superstores taking up 75% of this number. Many of them are in the USA, with almost an even distribution in the states and cities. However, the top spender states in this retailer are the people of Oklahoma, followed by South Dakota and Arkansas (Ghazzawi et al., 2014). At the same time, Walmart is the top private employer in the US despite being in the media for negative publicity about employee wages and poor treatment. They have, however, recently improved the employee hourly pay to $16. In addition, they employ up to about 1.5 million employees in various departmental stores and clubs countrywide. Furthermore, the company has also enhanced employment inclusivity in its workforce. For instance, in 2015, Walmart had a women population of about 57%, with 42% under management and up to 40% of the employees being people of color (Ghazzawi et al., 2014). This, therefore, means that Walmart has enhanced both gender and racial diversity in its work environment. Organization’s Culture Walmart has a retail culture geared towards ensuring that their customers save money at any time of their shopping. For a long time, Walmart has had to create an employee and customer-friendly environment by training their employee to be free to talk and discuss any problem that may arise. Some key values of Walmart include the customer is the Boss, and excellent customer service is their priority. Secondly, their employees should act with integrity and be truthful all time. Walmart also allows employees to give suggestions on the company’s developmental policies and decision-making process (Bohatala.com, n.d.). In Walmart, all the employees are respected and treated equally, issues of race, color, and creed prohibited, and all that is striving for excellence. Executive Sponsor and Key Stakeholders The executive sponsorship of Walmart is divided into various sections. For instance, the executive sponsor of the tribal voices Walmart associate Resource group is Rachel Brand. Brett Biggs serves as the organization sponsor and Hispanic/Latino Resource group, and Julie Murphy is the corporate sponsor. This format suggests that Walmart sponsorship is based on the board representatives and their specific roles (Walmart, n.d.). The key stakeholder of the company includes their investors, customers, employees, and suppliers. These stakeholders have interests, and the company ought to consider them. PMO Business Case A business case was presented when Walmart launched the Walmart Canada continuous improvement team to increase productivity and enhance efficiency in the delivery department. The new team was required to define a new protocol to manage the work effectively. This team selected the Wrike management system, which helped them increase their efficiency by improving communication, organization, and contextualization of the project through management automation and informed decision-making (Fakhir, 2019). Assessment of Existing Project Management The current PMO of Walmart is effective considering some of the significant successes in changing the business operations in the organization. One of the successful projects was the introduction of the new mode of grocery delivery from the stores, which ensures grocery delivery to customer doorstep. The PMO team provided the success of this through the application of AI and proper management. They believe that this will revolutionize their deliveries in most Walmart grocery stores. Another successful project was the increment of the employee hourly pay from $17 to $18. Increasing the hourly wage was part of the bigger project to change the employee experience—the team management through the reduction of incentives of some of their associates in the business. Project Management Methods Walmart PMO case is extensive in terms of description. However, it is essential to understand that Walmart is a purely retail dealer with no mix-up in its business operations. Walmart has about ten strategies for their management, which we would refer to as methods of management. These strategies include quality management, location strategy, supply chain management, inventory management, and process capacity design. Project Management Tools The company uses effective management as one of the tools to gear its management. The PMO system in the organization ensures effective management of the projects. Project Management Experience The experience of PMO is overwhelming because of the tremendous steps the business has made over the past 13 years. The PMO was introduced at the business’s early stages, hence ease of working with PMOs. Project Management Maturity It is also essential to state that the organization has had the PMO for long enough to make it one of the most mature PMOs. With the experience, the stakeholders are confident in the current PMO. Perceived PMO Benefits The PMO is perceived to increase the business operation efficiency and success levels. The PMO team is dedicated to multi-project management and keeping track of all the processes, changes, risks, and challenges. This, therefore, means that PMO enhances visibility and level of business result optimization (Holicky, 2020). Another advantage of this team is that it enhances time management and enables project managers and teams to deliver added projects. This is the goal of a business organization as a drive to revenue increment and customer attraction. Overarching Business Rationale The company’s overarching business rationale can be linked to the efficient supply chain management strategy, which has created a tremendous competitive advantage over the other businesses. Long Term Goals The primary goal of Walmart was to be the largest retail shop in the United States which they achieved. The other goal was to provide the best online marketing platform for its customers. This is a goal that took some time to achieve, but it was eventually managed. First Year Goals At the beginning of the year, it was to have great value and excellent customer service. All they wanted was to make it the best retail dealer in customer satisfaction. Metrics Project Execution is one of the metrics that measure the success rate of the PMO depending on the budget given. This means that the PMO should stick to the budget allocated for the company and merit using specific actual costs. Walmart PMO should strictly adhere to this, and the success rate is not questionable (Walmart, n.d.). Value Proposition Walmart has an excellent quantified value proposition (Ram, n.d.). The customer relationship depends on the value proposition, which entails cheap, best service, easily accessible, excellent, and varied merchandise. Conclusion The primary role of the project management office is to ensure that the project managers work accordingly to ensure the success of a given project. Walmart is a retail enterprise dealing in a variety of goods ranging from household to heavy machinery. Walmart PMO case is extensive in terms of description. The PMO team is dedicated to multi-project management and keeping track of all the processes, changes, risks, and challenges. This, therefore, means that PMO enhances visibility and level of business result optimization (Holicky, 2020). This means that the PMO should stick to the budget allocated for the company and merit using specific actual costs. The current PMO of Walmart is effective considering some of the significant successes in changing the business operations in the organization. References Bohatala. (2019, May 27). Walmart organization culture. BohatALA.com – Online Learning Made Easy. https://bohatala.com/walmart-organization-culture/ Corporate.walmart.com. (n.d.). Collaboration. Retrieved from https://corporate.walmart.com/sourcing/collaboration Fakhri, N. (2020). How Walmart uses Wrike for project management. Wrike. https://www.wrike.com/customer-stories/walmart/ Ghazzawi, I. A., Palladini, M., & Martinelli-Lee, T. (2014). The Wal-Mart stores, Inc.: An American dream that touched the world. Journal of the International Academy for Case Studies, 20(1), 9-32. Hanbury, M. (2020, January 19). This is what the average Walmart shopper looks like. Retrieved from Business Insider Africa: https://africa.businessinsider.com/strategy/this-is-what-the-average-walmart-shopper-looks-like/yk3vx8d Holicky, K. (2020, December 17). What is a project management office, and why do we need it? Meisterplan. https://meisterplan.com/blog/what-is-a-project-management-office/ Miller, J. A. (2017, October 19). What is a project management office (PMO), and do you need one? CIO. Retrieved from https://www.cio.com/article/2441862/what-is-a-project-management-office-pmo-and-do-you-need-one.html Ram. (n.d.). Value proposition for Walmart. Retrieved from Academia.edu: https://www.academia.edu/9881821/Value_proposition_for_Walmart Walmart. (n.d.). Corporate – US. https://corporate.walmart.com/
Portfolio Project Section 3 – PMO Recommendations The purpose of the Portfolio Project is to synthesize current research about the project management office (PMO) for the purpose of developing a PMO r
10 PMO Mission, Charter, and Competency October 24, 2021 PMO Mission, Charter, and Competency This section of the portfolio milestone explores various recommendations suitable for applying a project management office for Walmart. Walmart is among the most recognized companies in and out of the United States, making it a significant choice for this project management task. The paper explores specific aspects associated with an organization and how it operates in different locations. This section focuses on the PMO mission and vision as they align with Walmart’s requirements. Secondly, the paper explores the designation of major stakeholders in the PMO. Other crucial aspects of the portfolio task include charter approval, financial administration, empowerment authority, business alignment and affiliation, and business purpose, all associated with the charter. PMO Mission and Vision Vision and Mission Statements From Walmart’s establishment in 1962 by Sam Walton, the company has presented itself as one of the most active and successful organizations in the retail industry. According to Moore and Ellsworth (2011), Walmart relies on a wide range of aspects to provide the most desirable services and products to its clients, including its culture, objectives, vision, and mission statement. In other words, Walmart carries out its business functions by sticking to its mission and vision phrases, which align with the firm culture. Different companies’ vision and mission statements are important because they describe and define a firm’s relevant strategy and ensure that the course of action an organization selects is simplified for stakeholders and the management. Understanding that Walmart’s operations are guided by the mission and vision statements is essential for working personnel. For example, Walmart’s PMO mission statement presents that “to help customers minimize costs and lead better lives” (Moore & Ellsworth, 2011). The mission statement aligns significantly with the firm’s desire to offer products to customers at an affordable price and contribute to consumers’ better lives. On the other hand, its vision statement presents “to be the number stop for customers irrespective of their shopping strategies.” This vision statement aligns with Walmart’s affordable prices to customers and ensures they get what they want regardless of purchasing means. Validate Alignment with Walmart’s Mission and Vision Whether small or big, various companies have specific vision and mission statements and established strategic goals, which help set up a robust direction for a business. The statements are also crucial because they provide logical measures that help work towards achieving the set targets. As an illustration, Walmart’s mission statement provides a brief evaluation of what the company seeks to achieve and why it sticks to the strategies it employs in business, such as offering products and services at affordable prices. Designation of Key PMO Stakeholders Walmart’s PMO manager comprehends that certain decisions must involve various firm stakeholders that impact overall activities. One significant stakeholder that Walmart considers important involves its investors. In most cases, while the primary goal for investors involves profits, they make a vital contribution to company operations, which pushes Walmart’s PMO to consider the investors as important stakeholders. Secondly, employees are another group of stakeholders that play a central role in promoting Walmart’s operations. Walmart ensures that its working personnel are satisfied with working conditions and other aspects, such as compensation and recognition. Thirdly, customers are arguably another crucial stakeholder group that influences Walmart’s business, including the revenue (Koca-Helvaci, 2015). Additionally, it is important to note that suppliers also make up the major stakeholder group that Walmart deals with in its ventures in and out of the United States. Walmart’s PMO Charter Business Purpose Walmart works towards providing the most desirable services and relevant products to consumers daily while becoming the best in the retail industry. For this reason, the organization’s PMO explores possibilities of enhancing people’s lives worldwide and ensuring they align with their overall business goals and objectives. For instance, using different business courses of action allows Walmart to stay ahead of major competitors, such as Amazon. Therefore, the business purpose for a PMO charter entails offering several possibilities that an organization sticks to while carrying out various business operations (Hill, 2014). Furthermore, the firm’s increased focus on advanced technology application and innovation are among the core business objectives that the charter explores. Business Alignment and Affiliation Technical experts and professionals that deal with project management office (PMO) for organizations are associated with extensive knowledge that helps them align PMO with firm objectives. The experts also play a central role in carrying out exceptional training programs that seek to assist a company, such as Walmart, in achieving its targets and fulfilling the vision, mission, and strategic goals and objectives. As an illustration, a modern-day company like Walmart requires increasing its functionality and asset capacity (Dhiman, 2019). Moreover, numerous PMOs are established in monitoring and reacting to notable expectations that align with Walmart’s business requirements. Since Walmart’s PMO manager assesses the company’s strategy in business, they need to understand every aspect that impacts business operations. Empowerment Authority Effective PMO implementation is considered crucial in firms because it impacts the capability to accomplish set goals and objectives, such as standard gains, reference places, and expenditure outlines. Generally, PMO arranges aspects, such as scheduling, current actions, assets, possessions, and endeavors, impacting an organization’s internal operations. The PMOs also indicate the options that Walmart’s management settles for and ensure that they are logical and present updated information regarding alternatives, problems, and current status. Additionally, the PMO empowers firm authority by allowing managers to conduct various programs that affect company activities and other important projects. Financial Administration In most organizations, project management is accountable for specific functions, such as financial tracking and benchmarking. PMO plays a vital role in such processes, including comparing expected expenditures and actual expenses and various risk aspects (Hill, 2014). Walmart requires allocating extensive expenditure towards products and services customers prefer (Hwang & Park, 2016). Moreover, maintaining affordable prices will also ensure Walmart secures notable benefits in its financial activities. A relevant recommendation in this context would involve stock repurchases and reinvestment into more sustainable products and services. However, Walmart must ensure that budgetary schedules are explored continuously to align with the company’s activities. Charter Approval Typically, an organization’s project charter recognizes stakeholders and considers them significant based on their contribution to its activities. At Walmart, the PMO charter identifies different levels of authority and how administration impacts financial operations. For instance, organizational financial activities are controlled by how effectively the firm distributes capital and manages its supply chain operations (Sanghera, 2019). Furthermore, Walmart depends on its PMO charter to establish different projects that can help propel the retail firm to long-term prosperity in the industry. In this sense, charter approval is crucial, and a company like Walmart requires significant approval steps that involve each important organizational party. Relation to the PMO Competency Continuum Stage The competency continuum entails a measure utilized in organizations that includes the different stages of a PMO. The first stage involves project oversight, which deals with keeping the objectives and schedules of an organization intact. The second stage is the control process, which deals with the procedures and processes utilized in different organizational projects. It is important because it presents numerous programs that managers rely on to execute their projects (Hill, 2014). Thirdly, the competency continuum of the PMO involves the support process that deals with projects’ structured control. The fourth stage entails business maturity, while the fifth step involves strategic alignment of various project procedures. Justification Justifying Walmart’s PMO project is a significant way to ensure that it addresses the firm requirements and offers an improvement path. Justified projects assist companies with assuring stakeholders and other interested parties that the project provides a solution to specific issues. One important step in justifying the PMO and its relation to the competency continuum involves carrying out an environmental analysis. For instance, Walmart requires understanding business aspects that impact its internal and external operations. The project management office is effective and can help solve any problems the company is currently experiencing. Furthermore, the PMO should be implemented because it allows the organization to align with various firm elements, such as mission, vision, and strategic aspects. Walmart needs to implement its PMO project based on other procedures, such as cost-benefit and impact evaluations. PMO Competency Continuum to the Maturity Model (OPM3) In most cases, OPM plays a crucial role because it determines the magnitude of growth for an organization founded on aspects, such as behavior. However, the OPM’s continuum differs for various companies, and what works for Walmart may not work for another company. For this reason, possessing a project charter that articulates specific objectives benefits an organization more. Additionally, senior management support towards OPM aspects provides a significant opportunity for Walmart to perform better based on its charter, engagement with stakeholders, and its mission and vision statements. Finally, the maturity model allows Walmart to utilize its PMO project to remain proactive and not reactive. Walmart’s project management office is a significant firm aspect that must be implemented effectively to offer exceptional support to the company in its daily operations. First, the PMO must align with the organization’s mission, vision, and strategic aspects. Secondly, establishing specific stakeholders that influence Walmart’s daily decisions, such as investors, employees, suppliers, and customers, must be included in the PMO’s outcomes. Finally, other elements of the PMO, such as charter approval, stage analysis, justification, and correlation to the competency continuum, are also important in the implementation process. References Dhiman, H. (2019). Project Semester Report (Doctoral dissertation, Walmart Labs). Hill, G. M. (2014). The complete project management office handbook. Auerbach Publications. Hwang, M., & Park, S. (2016). The impact of Walmart supercenter conversion on consumer shopping behavior. Management Science, 62(3), 817-828. Koca-Helvaci, Z. C. (2015). Walmart and its employee relations. Organizational stance-taking and legitimacy. On the Horizon. Moore, S. L., Ellsworth, J. B., & Kaufman, R. (2011). Visions and missions: Are they useful? A quick assessment. Performance improvement, 50(6), 15-24. Sanghera, P. (2019). Initiating the Project. In PMP in Depth (pp. 87-111). Apress, Berkeley, CA.