03 Jun 2024
RIYADH: An evolved project management office model, often called xMO, is crucial for promoting the outcomes of programs and initiatives, a leading official from Saudi Arabia’s Public Investment Fund has told an industry gathering.
Speaking at the Global Project Management Forum in Riyadh, Areej Naqshbandi, head of the Project Management Office at the entity, said that the shift toward xMO offers organizations an opportunity to achieve their goals more effectively.
According to the Project Management Institute, xMOs enhance value flow in organizations by prioritizing outcomes over processes.
“I would like to focus on a new trend of turning PMOs into xMO. A PMO typically focuses on processes, governments and project execution, while xMOs promote outcomes and value delivery,” said Naqshbandi.
She added: “This shift toward xMO is not just a trend, it is an opportunity that organizations can embrace to gain a powerful toolkit to achieve ultimate goals in several ways. xMOs ensure a faster return in investments for projects by streamlining processes and encouraging adaptability.”
An xMO indicates advanced PMOs focusing on value delivery rather than just project execution. As a result, these xMOs are often called by different names and are distinguished by their flexibility, supportive mindset, and strategic acumen.
The PIF official further noted that Saudi Arabia’s sovereign wealth fund exemplifies the xMO approach, as the Kingdom uses this method to achieve the goals outlined in Vision 2030.
“We are constantly implementing new innovative trends, solutions and strategies; spearheading the drive toward achieving Vision 2030 goals,” she added.
Naqshbandi further pointed out that Saudi Arabia’s PMO is fostering a strong project management ecosystem in the Kingdom.
“We always emphasize the importance of the community and giving back. We believe in sharing knowledge and expertise to make a positive impact in the project management landscape,” she concluded.
Badr Al-Dulami, Saudi Arabia’s vice minister at the Ministry of Transport, stated that the Kingdom’s project management strategy intersects all sectors and is building an inclusive ecosystem.
“It’s a great sense of pride to see Saudi Arabia with its ambitious vision, leading both globally and locally, as we increase the growth of our giga projects throughout the Kingdom. Vision 2030 is a journey of an ambitious nation and not a final destination,” said Al-Dulami.
The GPMF, which began in Riyadh on June 2, is widely considered a flagship forum for project management professionals.
This annual event is expected to attract over 2,000 participants, including project managers and diverse stakeholders.