Project oversight can mean one of two things – one negative and one positive. This phrase can mean something that a project manager overlooked and is in a situation where troubleshooting is required. This can also mean the supervision of a project where a governing body is assigned to monitor everything in the said project, which includes schedules, budget, risks, and possible issues.
When you are running a business, the meaning that you would definitely want this phrase to have is the latter. In fact, if you already employ a team that does this, then you won’t have to worry about the negative meaning of this particular phrase. This is because you will have people handling the overseeing and handling of issues, risks, and problems before these even occur.
A PMO or project management oversight team is usually an independent group that ensures a project follows every single process and policy that the hiring company has set for it. The reason why a PMO is usually a group outside of the company is to make them unbiased when it comes to making judgment calls and decisions regarding the projects they are handling. This also means that the people in the team can pull rank when needed without having to worry about those they are handling thinking negatively about these decisions.
How can a company benefit from hiring a PMO or getting an external PO team for their project? Apart from the aforementioned reasons, here are a few more that make a project oversight team necessary for a company and their projects:
- Project success is ensured or else – an external oversight team will need to ensure success and will troubleshoot problems without having to worry about ruffling any feathers primarily because, if a project fails, they may not get paid. An external team has to ensure success and will do whatever it takes to make a project succeed or else the company that hired them won’t pay them for the work that they did. Apart from this, if a company that specializes in project oversight work does not deliver, they won’t really last that long in the business since they won’t get any recommendations and will even be blackballed by people they used to work with.
- Problems and issues are already foreseen and have set solutions in place – since the job of an oversight team is to have contingency plans in place, as well as solutions and plans of action for getting everything done according to a project’s outline, any issues that may arise already has a number of paths that can be taken. This is usually because such teams are well-versed in troubleshooting, plan execution, and the like. The people in these teams are also usually veterans in the business, with experience in handling such situations in the past under their belts.
- Project oversight teams know what they need to do and do it without preamble – if troubleshooting needs to be done, they do it without needing to explain themselves to anyone. If they need to go over the head of someone in the said project so as to see this completed on time, within budget, and within parameters, they will do so since it is what they are hired to do and what is required of them.