The significance of a Programme Management Office within financial institutions in South Africa

Abstract

Project Management has been around for centuries, but only recently become an integral part of the management of larger organisations around the world. In the management of projects, the Project Management Office (PMO) is employed to ensure that projects are selected and managed according to a detailed and defined set of governance structures and an organisational methodology. To understand whether this body, the PMO, adds the value it is expected to add to the organisation, this study surveyed Financial Institutions within South Africa, with specific focus on the methodology employed to execute projects, and the relevant governance structures which are in place to support both the PMO and the individual projects being managed. The „big 4‟ Financial Institutions in South Africa were selected and surveyed through an online survey tool questionnaire which was designed to establish the significance of both the methodology employed and the governance structures in place within these organisations. The respondents to the questionnaire included Project Managers, Programme Managers, CIO‟s and CFO‟s. These people were selected as they are the closest and most involved when it comes to the management of projects, and the PMO as a whole. The questions were designed to give the respondent the opportunity to answer similar questions in various manners. The data received was both statistical and open ended text with each supporting the other to get a clear and concise interpretation of all the results from each of the respondents. The results are able to be displayed in a visual form, with text from comments and open ended questions able to be used to expand on the graphs. The results showed that, while the methodology employed by many of the organisations is effective, there are areas where this methodology can be improved to make the management and implementation of projects far more effective and efficient. The governance structures employed by the PMO, and the organisation as a whole, do offer support to both the PMO and projects in iii general, however, far more involvement from the Senior Management of the organisation would assist in the successful delivery of projects into the environment. The final results of this research can go a long way to assist the Senior Management of Financial Institutions within South Africa in the streamlining of project delivery. Having a detailed understanding of areas of concern within the PMO, through the Project Managers and their superiors, will assist the Senior Management of the organisation in establishing the areas of change required within this area of the business, and what the potential impacts and implications of not effecting this change will be on the business