Home About IUP Magazines Journals Books Amicus Archives
     
A Guided Tour | Recommend | Links | Subscriber Services | Feedback | Subscribe Online
 
Projects and Profits Magazine:
Chief Project Officer : Aligning Projects and Profits
:
:
:
:
:
:
:
:
:
 
 
 
 
 
 
 

As companies face a complex and tough business environment today, ensuring the success of their projects requires establishing the position of Chief Project Officer (CPO). A CPO can act as a channel of communication between the Chief Executive Officer (CEO) and the project team, and help ensure the alignment of the objective of project management with the overall objective of the organization.

 
 
 

In today's extremely competitive business environment, uplifting the project management to a strategic level is one of the significant concerns to any organization. In fact, strategic implemention of projects is the basic building block in the design and execution of organizational strategies. This requires enduring strategic management and scrutiny of projects. If organizations fail on this front, the end result would be severe financial loss and ineffective use of corporate resources. However, leading-edge organizations have already geared up and are reaping the benefits by embracing project management as a core competency through the Chief Project Officer (CPO). So, to improve profitability and competency, organizations should have a CPO, who can improve the bottom line by meeting project portfolio objectives.

Unlike CEO, CFO and CIO, the position of the CPO never existed in organizations initially. However, in the ever-changing business environment companies are seeking new ways to transform their business through strategic project management. To achieve this, modern organizations are creating a new project management position to ensure that their projects are effectively aligned, prioritized and balanced within their strategic goals and objectives. Earlier, the role of CPO used to be managed by director-level executives. However, it is no longer viewed as just an operational activity and has emerged as one of the vital activities in the organization. In fact, PM is now viewed more as a strategic function within organizations. The CPO is responsible for corporate-wide resource distribution and allocation on all projects. In many ways, the CPO's role is similar to that of CFO and provides the status of projects, reporting on budgets, resources and delivery timetables.

 
 
 

Projects & Profits Magazine, Chief Project Officer, CPO, Chief Executive Officer, CEO, Project Management, Business Environment, Strategic Management, Organizational Strategies, Project Management, Project Management Institute , PMI, Global Competency Standards, Project Management Skills, Project Leaders, Corporate Strategies, Financial Analysis, Risk Management.