Project management office vision statement

Running head: PMO MISSION, CHARTER, AND COMPETENCY 1

PMO MISSION, CHARTER, AND COMPETENCY 2

PMO Mission, Charter, And Competency

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Introduction

Project Management Office (PMO) has the responsibility of makings sure that projects have been executed successfully by ensuring that there are effectively established procedures, policies, and standards guiding the execution of this project. Key factors to be considered in this paper include; PMO mission and vision, Charter, and its relationship to the PMO competency continuum. The analysis will be done to determine how the PMO relate to the organization's vision and mission, and the key stakeholders within the PMO. The PMO charter will determine the PMO's business purpose, business alignment, empowerment authority, fiscal management, and approval. The relation will be done with the PMO competency continuum, to determine its stage.

PMO's Mission and Vision

The PMO mission is to ensure the successful implementation of new market entry projects, which will cover the entire world. The vision of the PMO is to ensure that the company has been able to able to offer quality products and services to customers in the new markets. Both the mission and vision aimed at making sure that the company has entered the international markets effectively and realized the desired goals.

Alignment with Organization

The PMO's mission and vision have got a proper alignment with the organization's mission and vision. Coca Cola company has a mission of refreshing the entire world in spirit, body, besides promoting happiness and optimism across its customers all over the world. The vision of the company is to inspire people through the provision of good working places (The Coca-Cola Company, 2019). The PMO's vision and mission are in alignment with those of the organization. As the PMO ensures effective entry into new markets, it will meet new customers and offer quality services to them, thus meeting their needs to satisfaction. Such practice will address the company's mission. The vision of the company of creating a conducive work environment will be realized through increased market coverage. As the number of customers increases, the company will have to increase the number of employees and offer a conducive environment for them, to serve the customers effectively.

PMO Stakeholders

The PMO has got three primary types of stakeholders, which are the Chief Executive Officer (CEO), Resource Managers, and Project Managers. The CEO determines the executive support to be offered the officers in charge of the project. Without sufficient support from the organizational CEO, the PMO cannot be successful, considering that the former has got the responsibility of making sure that the project managers and their team have adequately followed the stipulated policies and procedures. The CEOs are interested in having the best practices of managing projects to be applied in the organization, considering that they are directly answerable to shareholders.

The Resource Managers will report to the CEOs. As long as the CEOs are working with the PMO, the resource managers have the responsibility of using the processes, procedures and other stipulated standards, to ensure that the resources have been used effectively in realizing the desired results. In the event of adverse deviations occur in the utilization of the funds, the resource managers are held directly accountable by the executives within the entity.

The other stakeholders are the Project managers who are known to be the primary consumers of the work done by the PMO. Once the PMO has established the processes and procedures to be followed during project management, the project managers have to ensure that they have been followed to the latter. The PMO plays a crucial role in making the work of the project managers easy, as they only have to rely on the issued guidelines (Sandhu et al., 2019).

PMP Charter

The PMO business's purpose is to create effective standards, policies, and procedures guiding the execution of projects. Uniformity will be established in the execution of the projects, which will lead to decreased errors, wastage of resources, and other possible adverse deviations, during project execution. Effective application of the PMO will be crucial in facilitating the effective realization of the organization's core goals and objectives.

The PMO has been effectively created to match the company's strategic decisions. The vision and mission statements of the PMO have aligned with those of the company, indicating that they were working towards common goals. Officers in the PMO factored the goals, objectives of the strategic options of the company, and designed the PMO objectives to serve the same purpose. There is a strong connection between objectives of the PMO and those of the Coca Cola company, thus proper alignment.

The PMO will be managed by officers who are quite different from our organization-Coca Cola Company. The standards, procedures, and policies used by the PMO will be approved by the Chief Executive Officer, and the subordinates will be required to make sure that the issued requirements have been applied within the projects being undertaken under the PMO supervision. Other empowering authorities will the resource managers and the project managers, who are directly accountable to the CEO. The empowering authorities have the responsibility of making sure that an enabling environment has been provided, by availing the required resources and finances, besides supervising the entire practice to promote project success. The project team and other organizations that fail to comply with the PMO requirements are subject to legal actions.

The PMO's fiscal management will be facilitated by the accountants who have got the duty of making sure that proper financial statements have been created in relation to how finances and other resources are being consumed within the projects. To determine whether the prepared financial statements reflect the true and fair view of the PMO's financial state, both internal and external auditors will be used to determine their authenticity, accuracy, and reliability. In the event there are reported incidences of mismanagement of the funds, reports will be made and presented to the PMO, empowering authorities for corrective actions. The auditors, whether internal or external, will have to be required to work independently to ensure the preparation of independent audit reports. Lack of independence can lead to poor financial management, resulting from collusions and plans to defraud the organization.

The PMO charter will be approved by the CEO after the project, and resources managers have approved its effectiveness. Before making the approval, the CEO must be satisfied, beyond no doubt, that there are proper standards, procedures, processes, and practices, supporting the effective execution of projects. Besides, there must be skilled and experienced individuals who should foresee the general management, including the organization's objectives. Once the PMO charter has been approved, all stakeholders must be keen to ensure that the plans have been executed as planned to facilitate the realization of the desired goals and objectives (Sandhu et al., 2019).

PMO Competency Continuum

The PMO competency continuum framework focuses on explaining the development of the PMO. It makes the entire process easily understandable by the patties using it. The framework consists of five different stages, and it aims at creating project value. The provided policies, procedures, and practices ensure that if the management team does not have the necessary knowledge for managing the project, they have got a reference point or benchmark, thus managing the project effectively, and leading to the realization of the intended goals.

The PMO is in the 5th stage of the competency continuum, which is referred to as the Center of excellence or the respected elder. At this stage, the PMO is dully independent of the business and has the capability of managing projects successfully. It accesses the organizational CEO directly and other stakeholders associated with projects being undertaken. The PMO has got key stakeholders, the CEO, Resources, and Project manager. This stage requires the CEO to be directly involved in the affairs of the project. Referring to our case, it is evident that the CEO has got active roles to play considering that; he is responsible for the overall operations of the PMO, approving the PMO charter, fiscal management, receiving direct reports from the Resources manager and the Project Manager (Monteiro, 2017).

Another qualifying factor to fit in the 5th stage of the competency continuum framework is that the PMO is independent of the organization. For example, in this discussion, we have seen that the PMO has formulated its own vision and mission statement. The alignment between the mission and vision statements with those of the Coca Cola company does not mean the PMO's independence has been compromised but is a formality for ensuring the successful execution of projects. The independence aspect is also supported by the fact that the PMO has got its own management, which is different from those of the company. For example, it has got a CEO, project manager, resource manager, accountants, and its own auditors, who must work independently from those of the organization.

The Organizational Project Management Maturity Model (OPM3) suggests that any organization has grown, but it can still continue undertaking various projects to enhance its maturity level. Taking the case of Coca Cola, the company is fully grown and covered a significant market share globally. However, the company is still undertaking projects to ensure that it has covered more geographical locations internationally. Even in the absence of new projects, the company is still capable of generating high sales and profits at the market, as it has already matured.

A similar case applies to our PMO. The Center of excellence or the respected elder is considered to be the last stage in the competency continuum, and organizations reaching such stage are considered to have matured fully. The PMO is operating independently from the company, having its own management, resources, vision, and mission, among other features defining a fully independent organization. Both the PMO and our company are mature, having met the necessary features defining maturity (Stretton, 2017).

According to Sandhu et al., (2019), a PMO must undergo through the listed competency continuum framework. Reaching the final stage serves as evidence the organization has got the high capability of delivering the desired results. The PMO adopted, in this case, will have a positive impact on the Coca Cola company, as it will facilitate the realization of the anticipated goals.

References

Monteiro, A. J. V. (2017). Project management office (PMO): typologies and models (Doctoral dissertation).

Sandhu, M. A., Al Ameri, T. Z., & Wikström, K. (2019). Benchmarking the strategic roles of the project management office (PMO) when developing business ecosystems. Benchmarking: An International Journal.

Stretton, A. (2017). A strategic organizational framework, and project and other contributions to achieving strategic objectives. PM World Journal, 6.

The Coca-Cola Company. [August 4, 2019]. Coca Cola Mission and Vision Statement Analysis. Accessed on March 16, 2020, from https://mission-statement.com/coca-cola/