Antecedents of PMO Effectiveness in Technology Projects in the Age of AI

As per Harvard Business Review (HBR 2023), each year USD 48 trillion are invested in projects, however, it is widely recognised that less than 35% of projects achieve, even partially, their strategic objectives (Standish Group's Annual CHAOS 2020 report). This responsibility falls, in a large part, to the effectiveness of Project Management Offices (PMOs) running these large projects. Additionally, there are rapid advances being made in the field of Artificial Intelligence (AI). At present, there is lack of wide-spread use cases in wide array of industries, however, Gartner's research (2023) indicates that in a decade, over 80% of standard project management tasks will be carried out using AI, machine learning and other digital advances. Project management offices (PMOs) are a feature of large banking and financial service organisations and offer many services, including portfolio prioritisation, project governance standards, tracking project risks and budget consumption and monitoring internal or external influences. A critical role of the PMO is to move the organisation closer to its strategic goals and report the achievement of enterprise objectives to shareholders and stakeholders. This research identifies and studies the factors that determine the effectiveness of PM Os - organisation maturity, performance metrics, PMO processes, its environment and adoption of AI tooling - so appropriate actions can be taken to improve the performance of PM Os operating in the age of Artificial Intelligence (AI)