Center of Excellence
The role of the center of excellence has evolved significantly over the years. What started off as just a functional approach within an organization became so much more as it slowly started to live up to its name. As far as modern project management is concerned, the COE needs to take care of a number of responsibilities. Though their daily tasks vary widely from one organization to another, there are best practices and trends that define the primary functions of the center of excellence in Project Management Office. To understand the importance of COE in project management, you need to take a look at how they improve efficiency of the PMO department.
First and foremost, the center of excellence provides intellectual and educational resources to the project management team so that various functions can be carried out smoothly and efficiently. Within an organization, the COE acts as the body of guides and standards that helps to achieve excellence in various project management operations. By providing tools and methodologies, the COE enables project managers to deliver projects within the given timeline. The center of excellence implements good practices and provides a central point of contact for project managers, and that is how they increase capability of the organization.
In many organizations, the center of excellence is responsible for defining the PMO strategy. Being the primary resource of a company’s intellectual capital, the COE helps project managers in accomplishing their jobs at the present and in the future. In many instances, the center of excellence plays a crucial role in cutting unnecessary costs and increasing profits.
Only few organizations have built a center of excellence in their PMO framework. COE PMO primarily looks after standards, methodologies and processes. But most of their focus remains on process development improvement, methodology definition and metrics definition.
A Center of Excellence aproach is like taking knowledge and efficiency a notch higher
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