Project Management Office in Different Countries Essay

Organizations can have good strategies in place, but without the right projects and project managers knowledge of executing the project, forward and ambitious strategies fail (PMI, 2014). To implement the strategies and vision of a company, a strong Project Management Office (PMO) is essential for syncing projects to align with companys strategy, executing projects on time and on budget (PMI, 2014).

According to 2013 Economist Intelligence Unit report, 90% of senior management acknowledged that a PMO with extensive project experience and knowledge is vital to deliver comparable results (PMI, 2014). Company executives also acknowledged that PMO is the only department that understands the project issues, resource management and add value to the organization (PMI, 2014).

To help a company achieve its project or business goals, PMO drives for strategic alignment and assigns project managers to ensure planning and decision making process are made from beginning of the project (PMI, 2014). This process reduce project cycle time, reduce risk, reduce project cost, deliver quality results, support innovation and adhere to standards. The process that a PMO follows, help keep projects manageable in large multinational companies (PMI, 2014).

A PMO process has no effect without the right staffers. PMO staffers must have strong leadership skills, business insight, decision making skills and effective communication and reporting skills (PMI, 2014). A good PMO not only takes into consideration the project scope, budget and schedule, but also takes into consideration the business driven metrics such as customer satisfaction, value to stakeholders that helps a company achieve its strategic goals and vision (PMI, 2014).

Other countries other than the ones listed in Table 1.1 where potential for project management is growing are (PM Network Magazine, 2014)

1. Nigeria

Nigeria is Africas largest oil producer, but the government is diversifying its investments in agriculture, telecommunications and construction.

2. Panama

Panama is strategically located and canal is the biggest driver of growth. Infrastructure, construction and risk management are Panamas project spotlight.

3. Indonesia

Indonesia, is projected to grow in double digits in 2030. Some of the project management professional demand is in Construction and Engineering.

4. Chile

Chile has a strong mining industry. The Government is aggressively investing in construction and information technology sectors.

5. Turkey

Turkey is a country that connects Asia to Europe. It is strategically located and some of the major sectors where demand for project managers knowledge is in manufacturing and construction.

6. Vietnam

Vietnam is projected to an important hub of Southeast Asia. Construction and consumer goods manufacturing is expected to grow at 5% annually.

The salary ranges and years of required experience of PM position

According to the PM Salary Survey 2013, median salary across all countries, roles and experience level is $92,000 (PMI, 2013). The median salary varies on country of employment, number of years of experience, position, project size, and project budget. (PMI, 2013)

Top 10 annualized salary by country is listed in Table 1.2 (PMI, 2013). Switzerland tops the median salary with $160,409 followed by Australia with $139,497.