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Forming & Organizing a PMO for Credit Union Success

For a PMO to be successful in delivering organizational value, it must be aligned with strategy.

By Ray K. Ragan | February 19, 2019 at 12:20 PM
Strategy drives the focus of a successful PMO.

A sampling of over 20 credit union leaders at last year’s NAFCU Management and Leadership Institute revealed a common problem across the industry. That problem is successful project execution. This is not a problem unique to the financial industry, as last year, the Project Management Institute reported 24% of projects were deemed failures for under-performing and at best, 6% for high-performing organizations.

A common approach for improving project success is forming a Project Management Office to help guide project completion. At NAFCU’s MLI, one credit union using this approach reported nearly a 200% increase in project completion, while another did not see a significant improvement. What set the two experiences apart and how does a credit union determine if a PMO is right for their organization?

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