10 Types of Innovation Framework explained
Its becoming clearer than ever that innovation is the driving force of business and innovation frameworks are how you achieve them. It is becoming evident…
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PMO for C-Suite
We can provide this PPM capability for you, as well as provide many other features which will give the C-Suite the power it deserves. We can help C-Suite by:
Giving C-Suite real-time information on their project status so they can make informed decisions on each project in terms of company objectives.
Providing them with only the most relevant information so the collated data can be more easily translated into decision-making.
Using AI technology pmo365 can answer your questions immediately, using simple language query, for example: you can ask pmo365 to compile a list of the projects with the highest risks, speeding up this decision making process even further.
Providing a more simplified process of communicating and collaborating with the PMO, saving precious time and resources.
As a C-Level executive, does it often feel like you are a few steps behind every one of your projects? Is your PMO giving you information on your projects too late? Does it feel like you are losing control of where you are spending your money?
If this is you, then you are probably wasting precious resources on projects which could have been avoided if you had full visibility of your projects, portfolios and programs. You are probably blaming your PMO for this, but what if we told you that PMO is essential for your business, but the overhead of admin work is preventing them from bringing this visibility and control to you, a PPM can solve all of these problems for you.
A PPM will integrate with your project tools to give you a platform with all of the information you need as a C-Level executive, and importantly, you are receiving this information in real-time. You can make changes as you see the risks appear and save your company heaps in the process.
The C-Suite represents the corporate level of a business. It is a term used to describe anyone in a chief role, including the Chief Executive Officer (CEO), the Chief Operating Officer (COO), the Chief Financial Officer (CFO) and the Chief Information Officer (CIO), among others. They are in charge of leading an organisation and ensuring they are meeting strategic objectives. They are not concerned with the day-to-day operational tasks, and are more concerned with the outcomes that these day-to-day tasks will bring. They must be aware of the status of their projects throughout their entire lifecycle, to ensure they can make well-informed decisions to better align to the company objectives.
As discussed above, C-Level executives have very specific business objectives which must be achieved within a certain time frame and within a certain budget. This is why an organization undertakes projects, programs and portfolios - in order to achieve these goals. If the C-Suite wants to keep their company aligned with their organisational goals they require a strong knowledge of the status of their company’s projects, portfolios and programs. To achieve this, it is essential that they have clear communication with people in the operational level of the company.
A C-level executive will meet with a PMO periodically throughout the year, where they will be informed on the status of current, future and past projects. They will use this information to make informed decisions and only invest in projects which align with the organisation objectives. It is important that the PMO provides the C-Suite with only the correct information, and only the information that is relevant to them.
As a C-Level executive, you are interested in three things when analysing projects, portfolios and programs. You want to know if their projects are going to be complete (or have been completed) on time, whether they are tracking (or have tracked) on budget, and whether they will meet (or have met) the goals which have been promised. These aspects will make up the project status. By analysing the project status for potential risks, C-Level executives will have the power to control which projects are most important to the overall objectives of the organisation, as well as which projects must be prioritised in order to meet these objectives.
The issue which many C-Suites deal with, is that much of the information they are receiving from their PMO is not real-time, complete or accurate, and so they cannot act on them - potentially allowing for risky projects to run, and essential projects to be left untouched.
It is very important that the information which is being given to the C-Suite is of value to them, so they can make decisions which will benefit the business. By integrating with project tools, a PPM can ensure that the information given to the C-Suite is both relevant, and in real-time.
In the past, the process of collating and delivering project information to a C-Suite, was a long and expensive process. Not only were there large amounts of admin costs, but the long procedure meant that the information which was eventually presented to the C-Suite was not real-time, meaning that the C-Suite could potentially receive information which was only relevant to the business in the past. In many cases, information would be received weeks too late, and the C-Suite would use this information to make uninformed decisions and the company would suffer.
With a PPM such as pmo365 in place, there is zero chance, issues such as this could occur. By integrating with the project tools, the PMO (and in turn the C-Suite) would always have access to information which is real-time. The C-Suite now has the ability to make well informed decisions, which will benefit the business right now.
As we’ve discussed above, the C-suite is primarily interested in ensuring they are investing their resources in the projects which are of the utmost importance to serving the business. This means that they need to be provided with only the information which will serve these interests. The main information which they need to know is how each project is tracking, if there are any risks and if the correct projects are being completed in order to achieve strategic objectives. They will then make decisions based on this information.
Unfortunately, oftentimes, the PMO will provide the C-Suite with a large amount of unnecessary information which often does not directly affect them. The C-level executives are then left to sift through this information and find the data which is relevant to them. This process is long, expensive and oftentimes, project risks were completely missed.
A PPM, like pmo365, provides a platform which will order the information so the C-Suite can easily and efficiently find the information which is relevant to them. This process is known as status by exception, meaning that the PMO will use the PPM to provide the C-Suite with only the information which they need. With this very specific visibility, they will be able to identify their priority projects and ensure that the right amount of resources are going to the right projects. Furthermore, they can see which projects are high-risk and adjust it as they see fit in an attempt to make sure all of their projects are in place to achieve overall organisational goals.
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