By acting as a sovereign unbiased entity that provides transparency and visibility to the team and a PMO enables them to make an informed decision with confidence.
In this article at Future PMO, Milvio DiBartolomeo talks about some key factors that may help the PMO to become a true source of knowledge management for the organization and ensure that everyone uses the same data while making an informed investment decision.
What’s the Need?
As per the Information Technology Infrastructure Library (ITIL), the key resolution of the knowledge management process is to share right ideas with a perspective to deliver right information. It will help in improving the efficiency of the team by reducing the need to rediscover knowledge. Only a PMO can gather all this knowledge and manage it for the team’s future reference.
Growing demand for the data has made its repositories complex and fragmented. Liable decision makers try to establish a single source of data that should be reliable and accurate. However, it is almost impossible for an organization to penetrate huge amount of information at a single source. Keeping it handy within the organization will be costly, thereby leading to confusion and loss of productivity.
The author believes that it will hamper the Portfolio, Programme, and Project Management Maturity Model (P3M3) practices.
In a bid to extend support to the liable decision makers, the PMO can maintain ‘Data-to-Information-to-Wisdom-to-Knowledge (DIWK) hierarchy’. The PMO can take responsibility for ensuring good practices being embedded within the organization and automatically maintain the overall health of the project management portfolio.
Moreover, the PMO can ensure everyone in the hierarchy are playing their roles right. For instance, if the project managers take responsibility for collecting progress data and preparing accurate reports, they must highlight areas of deep concerns before they become serious issues.
However, the collection of progress data totally depends on the planning techniques used to develop the baseline. It should be sophisticated enough to record and analyze progress with many accurate future predictions. Read the original article on the following link: https://www.futurepmo.com/pmo-principle-single-source-of-truth/