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Benefits of a Knowledge Management Powered Project Management Office

Not only are projects becoming increasingly complex, but organizations are facing an even greater challenge of delivering more project value while ensuring demanding customers are satisfied with the solution. Project Management is a knowledge intensive discipline which requires skilled professionals to manage and deliver projects on-time, on-budget and with exceptional quality on a consistent basis. To address these growing challenges, organizations have focused on creating PMOs and buying new technology. A recent survey conducted by the Technology Services Industry Association found:

40% of projects miss margin targets
31% of projects overrun billable hour targets
43% of projects run behind schedule

What organizations sometimes forget is the key component of every project - people! And people empowered by knowledge leads to project success. People with access to knowledge management capabilities benefit the organization by:

  • Leveraging existing knowledge capital accelerating successful project completions

  • Avoiding project pitfalls learned from past similar implementations

  • Locating necessary resources more quickly

  • Sharing organizational learnings for future benefit of the organization and clients         

This highly informative paper, Benefits of a Knowledge Management Powered Project Management Office, provides details on how a comprehensive KM practice helps Project Managers streamline and improve usable knowledge capital, enable knowledge sharing and leverage knowledge capital to provide a competitive advantage in the marketplace.

      
       
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