More and more asset owners are realising the benefits of a PMO function on their mega-projects. What key roles should they play?
1. Align business objectives
Drive the right trade-offs between economic levers and business objectives
Reflect business requirements in the technical design of engineering specifications
Align contracting terms with business objectives and allocate risk to natural owners
Escalate critical business decisions in a timely manner
2. Strategic project steering
Set up and manage a ‘Control Room’ of information, reporting dashboards, and an information cadence to create a ‘single source of truth’, have maximum visibility and get timely information to facilitate decisions
Set-up and drive decision-driven dialogues
Deploy special response teams to mitigate risks and roadblocks
Monitor top strategic risks and communicate these to the owner to drive decisions
3. Capability building
Skills transfer to the owner’s team including analysis of trade-offs, management and maintenance of control room system and strategic risk management
