Why You Need to Hire A CPOJul 13, 2022
The past three decades have witnessed a significant shift in the allocation of resources in organizations and companies. In the recent past, 80 percent of the resources were allocated to operations, while a paltry 20 percent was dedicated to projects. This is no longer the case in the 21st century since organizations and firms dedicate more than half of their resources to tasks. The paradigm shift witnessed in organizational resource allocation is characterized by complexities like innovation and global market demands that compel an organization to address the fundamental link between strategy and implementation.
Organizations need to have a formal approach to project management to ensure that an organization has strategy and change execution. Unfortunately, most organizations lack senior leader(s) who can supervise and oversee their various project activities. Such obscurity is dangerous for an organization as it allows for silo thinking, poor project delivery, project overload, and massive loss of resources. Therefore, hiring a Chief Project Officer (CPO) is essential in filling that void as it goes beyond direct sponsorship of personal projects.
Below are three crucial reasons why you need to hire a CPO in 2022:
Translation of Strategy into Execution
The chief responsibility of a CPO is to establish a collaborative approach to translating an organization's strategy into initiatives, projects, and programs. A CPO ensures that projects and initiatives are rightly selected, prioritized, and resourced using organizational capacity and strategic priorities.
Establishment of Accountability and Governance
CPOs break the silo thinking in an organization by establishing accountability avenues and project governance committees that ensure an organization works as a team. Such a committee decides what project or initiative the organization should pursue or relinquish based on its strategic priorities.
Optimizing Resource Allocation
Poor resource allocation leads to poor project delivery since employees get overwhelmed by many projects their organization pursues. A CPO ensures that its organization seeks cooperative projects after freeing the employees of their pending responsibilities. This will give them time to complete various projects launched successfully.
A CPO is an integral part of organizational success due to fostering collaborative corporate culture, thus ensuring project success.
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