Conclusion - PBMO Sustainability
PBMO strategic planning blends the business requirements of operations and portfolios, programs and projects that support the future of the enterprise. PBM is a business management function driven by executive and senior management. It must be standardized by and for each specific enterprise, and be applied from the executive level, down through the enterprise for managing non-operational work.
Implementing a PBM methodology that incorporates strategic and tactical planning is not easily accomplished. It often fails for a number of reasons such as: lack of executive support; lack of clearly defined purpose; and lack of defined goals and critical success factors.
To create a sustainable PBMO for achieving affective business results the following conditions must be in place. The PBMO must:
- Use strategic and tactical planning with well established tools in the business management discipline.
- Establish a standardized methodology that incorporates strategic and tactical planning.
- Ensure that projects are selected and completed in alignment with their business objectives and strategic initiatives.
- Implement processes that allow executive and portfolio management to assure that only correct business objectives, programs, and related projects are authorized, or otherwise terminated.