Understanding the Key Benefits and Best Practices for Combining PMO Services and Human Capital Planning for Optimal Results.
Human capital planning and project management are essential to an organization’s success. Human capital planning is concerned with the management and growth of an organization’s workforce, whereas project management is concerned with the planning, implementation, and delivery of projects.
When coupled, project management and human capital planning offer organisations with a potent instrument for achieving success. Here are some key statistics that illustrate the advantages of integrating these two crucial areas of focus:
The productivity of businesses that integrate project management and human capital planning successfully rises by 20%. (Reference: PMI)
The average annual compensation for a project management professional with experience in human resource planning is $115,000. (Based on Glassdoor)
Project delays have decreased by forty percent in organisations employing a Project Management Office (PMO) that combines human capital planning principles. (Reference: PMI)
70% of firms believe a PMO is essential for the success of human capital planning activities. (Reference: SHRM)
When project management and human resource planning are combined effectively, employee engagement increases by 30%. (Reference: PMI)
The global PMO services market is projected to increase at a CAGR of 6.3% from $18.9 billion in 2020 to $25.8 billion in 2025. (As reported by MarketsandMarkets)
To the extent of fifty percent, project management and human capital planning can assist firms in achieving their strategic objectives. (Reference: PMI)
The average annual compensation for a PMO manager with experience in human resource planning is $140,000. (Based on Glassdoor)
These figures illustrate the significant influence that integrating project management and human capital planning can have on the success of a business. By combining their respective capabilities, businesses can accomplish their objectives more effectively and efficiently.
To combine project management and human resource planning effectively, businesses must have a comprehensive awareness of their workforce requirements and the skills and competencies required to meet those requirements. In addition, they should have a well-defined project management methodology and a PMO that is capable of supporting and executing projects effectively.
Additionally, organisations should ensure that their PMO is integrated with their human capital planning processes and that they have in place effective strategies for attracting, maintaining, and developing the right personnel. This may require forming partnerships with providers of specialist human capital planning and PMO services or investing in internal training and development initiatives.
Combining project management and human capital planning is crucial to the success of an organisation. By using the benefits of both, organisations may achieve their objectives more effectively and efficiently and create development and success in a business climate that is increasingly competitive and fast changing.