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PMOs being used to manage risk

15 March 2010

Project management offices (PMOs) are becoming increasingly prevalent in India. Indian companies are gradually utilizing PMOs to help monitor project execution to try and minimize the risks of ballooning costs from overrunning work.

A survey by the Project Management Institute (PMI) and KPMG has revealed that companies employing PMOs have a higher success rate in hitting completion targets. In India companies such as L&T, Essar Group, HCC and BHEL have all been quick to deploy PMOs in helping achieve business objectives.

An Executive Director of Advisory Services, KPMG, Raajeev Batra, identified the need for companies to create an effective means of managing risk as many organizations find it difficult to mediate certain factors when delivering projects.

In the UK, PMI aims to create an environment that enables its members to develop personally and professionally. PMI UK will hold a member event in Macclesfield on Thursday March 18th.

Among the talks will be a discussion of the use of behavioural science to improve business performance.

Find out about data protection and how to reduce business risks on BSI’s website