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CURATOR

PHD CANDIDATE, UNIVERSITY OF MARYLAND, COLLEGE PARK, USA

PINBOARD SUMMARY

PMO REPOSITIONING/OPTIMIZING CATALYST BY INTEGRATING ECONOMIES OF SCALE INTO PORTFOLIO MANAGEMEN

This exploratory research seeks to contribute to the body of knowledge in project management by proposing leadership in value engineering (VE – also refers to as Value Management [VM] and Value Analysis [VA]) as an innovative decision making tool in the project management office (PMO). The unprecedented and ongoing proliferation of PMO in both the private and the public sectors, and the increasing rate corporations gravitate toward executing operating deliverables, initiatives and corporate strategic plan as business projects, are clear indications of the continued growth and relevance of PMO as a center of excellence in the new economy.

The challenges faced by organizations in the establishment and systemic management of the PMO, especially the development of an effective decision making framework as guidelines for efficient investment decision making process cannot be overemphasized. Because the capability and support functions provided by PMO are leverages upon which organizations build their competence in portfolio management. Leadership in value engineering (VE) is a catalyst capable of repositioning the PMO by integrating economies of scale into project portfolio management decision making process to optimize scarce resources.

VE is a systemic function oriented problem-solving methodology that the PMO can adopt and adapt to achieve operational excellence in project portfolio management and contribute to the long term growth in the organization. Proper deployment of VE leadership accentuates the PMO efficiency in investment decision making which ensures rational selection and execution of investment alternatives, as well as increased functionality of the strategic business outcome the portfolio was designed to achieve.

To achieve the primary outcome of this research, an extensive literature review will be explored and, a case study conducted to evaluate the conventional decision making framework of the PMO. A value engineering workshop was organized to experiment with the functional analysis system technique which was modeled into an investment decision making theoretical framework to enhance the effectiveness of the PMO in systemic decision making.

The main objective of this research is to develop an investment decision making theoretical framework for the PMO using value engineering methodology. The Function Analysis System Technique (FAST) will be employed to model a conceptual framework for investment decision making for the PMO.