Why is the PBMO a Competitive Weapon and What Are Its Benefits?
The effective use of integrated business and project management processes are becoming more widely recognized as an effective approach for achieving improvements in searching for better ways to improve time-to-market, cost-to-market, and quality-to-market. Some enterprises view project management as a key weapon in their arsenal to increase customer satisfaction and outdistancing their competition. The organization as a whole must recognize and adopt new attitudes that embrace project management best practices as the best way of doing business. This enables them to bring the full power of this new competitive weapon to bear in the battle of continued business growth and in many cases ensuring the enterprise's ultimate survival in today's economically challenged global market.
Establishing a PBMO provides executives ownership of an enterprise-wide vehicle to implement project management best practices across the organization. The PBMO has the requisite authority as an organizational structure to enable acceptance, adoption, and autonomy as perceived by all levels across the organization.
Positioning the project management function at the top in a hierarchical organization structure establishes its autonomy and thus "ownership" of the responsibility for setting up, distributing, supporting, and managing the application of project management best practices within the company. Enterprise-wide adoption of project management best practices calls for single ownership of the function. Establishing common practices across an organization at all levels is very difficult, if not impossible, without a sole ownership being clearly established. We believe that establishing a PBMO ownership is the right thing to do, because global competition and economic challenges in the marketplace require new approaches to survive. Project management as a business function is one of the best answers on how to survive global competition.
Therefore:
"Enterprise project management is an idea whose time has come. Applying project management on a broader basis within the organization adds speed and productivity to ongoing processes."[2]
2. Dinsmore, Paul C., an international author and speaker on the subject of enterprise project management.
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General Business Management versus Project Business Management
