Benefit Of Setting Up A PMO In Hewlett-Packard Multiple Chapters

Length: 18 pages Sources: 18 Subject: Business Type: Multiple Chapters Paper: #77193750 Related Topics: Cost Benefit Analysis, Growing Up, Project Portfolio Management, Employee Benefits
Excerpt from Multiple Chapters :

Project Management Office

Hewlett-Packard Company (HP) is one of the biggest information and technology (IT) corporations in the world. HP is a company that is well suited for the 21st Century as it employs its competencies and technological advancements to offer healing, education, and connecting individuals across the world. Hewlett-Packard Company is centered in the information systems industry and is a technology organization that specializes in storage computing, hardware, software as well as network services. HP is well renowned for providing technological solutions to individual consumers, businesses as well as all sorts of entities across the globe. The main mission of Hewlett-Packard is to simplify and advance the manner in which technology and services can enable both individuals and institutions in addressing their issues and challenges. For instance, Hewlett-Packard Healthcare Information System (HCIS) is an information system that is fully integrated has been developed and sustained by the company for leading organization in the health care industry (Hewlett-Packard Website, 2015).

Up until the present day, there is not internationally acknowledged and adopted standard for project management offices (PMOs) and the models which are employed by different organizations are dissimilar and vary a lot. However, there is a regular set of basic requirements, tools and functions of any project management office to be of great value to the company establishing it. A Project Management Office can be described as an organizational entity that takes account of numerous roles and functions with regards to a group of projects. It is an entity that can make the most of project management by systematizing or regulating the practices and merging the various ingenuities across the enterprise. PMOs are not static entities. Most change every few years. Project management office applications and executions are situationally reliant on, and change or alter conferring to functioning, structural, societal, and other forces. More so, these forces do not hamper or impact PMOs in dependable or foreseeable ways (Al-Maghraby, 2011).

Companies are becoming more and more cognizant of the significance of a project management office to govern and control the execution of their piloted projects. This is the reason why increasingly more companies in the information system industry are opening project management offices. This paper will consider the aspect of project management offices with respect to Hewlett Packard Corporation which is one of the largest companies in the information services (IS) industry. It will also shed light on the intended purpose and role of the PMO, the manner in which the PMO is to be established in HP, the essential components needed to be in existence in the PMO together with its organizational structure, and the roles and responsibilities played by the personnel (Al-Maghraby, 2011).

Organization's Mission, Vision, and Values

The mission statement of an organization can be described as the main purpose of the organization in terms of why it exists as an entity. In other words, the mission can be considered as what the organization has determined to attain on the assumption that it is in operation. The mission statement of an organization is articulated for the organization's internal and external benefit. In essence, the mission statement focuses on the present state of the organization. The mission of Hewlett-Packard Company is to provide products, services, and solutions that are of the highest quality and deliver a great deal of value to its consumers; this goal enables the organization to be of service and earn consumers' respect as well as loyalty (Ireland et al., 2009).

On the other hand, the vision statement of an organization focuses on its future state. In other words, it can be considered as the motivational basis or context for the existence of an organization. Different from the mission statement, the vision of the company basically highlights the direction in which the organization intends to go and instigates the strategic plan of the organization. More so, the vision concentrates on the internal aspects of the organization. The vision statement of Hewlett-Packard Company is to perceive change in the market as a prospect for growth, to employ its profits and its capacity to develop and produce services and products as well as solutions that satisfy the emerging needs of the consumer (Ireland et al., 2009). The company has a number of shared values which include integrity and honesty in all of the organization's dealings and organizations. The company also ensures that it works in an effective and collaborative manner, seeking ways to serve its consumers. In addition, the company strives to create an organizational culture that is centered on

...

As well, HP strives for excellence in all of its actions and activities. Lastly, another value of the company is meaningful innovation as HP is the company that comes up with the technology that is not only beneficial but also significant (Ireland et al., 2009).

Hewlett-Packard has seven key corporate objectives which are discussed below.

i. Consumer Loyalty

With regards to consumer loyalty, HP strives to provide its consumers with products, services, and solutions which are of the highest quality and value to its consumers, earning the corporation their loyalty as well as respect. The company is keen on paying attention to its consumers to gain a proper understanding of their needs and thereafter offering solutions and services which transform into customer success, an aspect that is vital to earning consumer loyalty and increasing its consumer base. In addition, the level of quality and invention that is done by the company increases the loyalty of the consumers (Hewlett-Packard Website, 2015).

ii. Profit Another value of the company is profit generated. The company asserts that in order to attain adequate and satisfactory profit to finance its growth, generate value for its stakeholders and also offer the resources, it is imperative for it to attain its other company objectives. The fundamental beliefs that support this objective for HP is that everyone is responsible for the profit generated by the company and that it is vital to have a balance between the short-term objectives and the long-term objectives in order to have profitability. In addition, profit enables the company to attain its corporate objectives and be able to reinvest in new and emerging business prospects. Lastly, profit has a high correlation with the generation of cash which in turn bring about more flexibility to the company's business operations at a lower cost (Hewlett-Packard Website, 2015).

iii. Market Leadership

Hewlett-Packard aims to constantly grow and become a market leader by repeatedly providing beneficial and substantial products, services and solutions to the industries and markets that it offers its services; HP also plans on extending its business operations into new fields and areas which are capable of building and increasing its expertise, capabilities and consumer interests. The company is cognizant that being average in the market and in the industry as a whole is not good enough and therefore it has to strive to be number one in all fields that it participates (Hewlett-Packard Website, 2015).

iv. Growth Another objective for the company is growth in the sense that it has to perceive change in the market place and industry as an opportunity and chance to grow as a business. As a result, it has to employ the profits generated and its capability to develop and manufacture innovative products, solutions and services which are satisfactory to the constantly changing and emerging needs of the consumer. Hewlett-Packard's large size as well as its diversity in business gives it the capacity to ensure any economic cycles and also to make the most out of them. Such growth emanates from being a smart risk taker (Hewlett-Packard Website, 2015).

v. Employee Commitment and Motivation

HP as a corporation aims to assist its employees in sharing the success attained by the company which is made possible by the personnel. The company aims to provide individuals with employment opportunities centered on their performance and to create a safe, interesting, and appropriate work environment that appreciates their diversity and acknowledges the contribution made by every individual; HP also seeks to ensure that the employees are satisfied with the work that they accomplish. The performance of the company is reliant on the motivation of the employees and therefore their loyalty is key. In addition, having a diverse workforce enables the company to have a competitive edge; creating a workforce environment that is stimulating and satisfactory initiates a great level of invention (Hewlett-Packard Website, 2015).

vi. Global Citizenship

Another key corporate objective of Hewlett-Packard is having good citizenship across the world. The company ensures that it lives up to its accountability and responsibility to the society by being an intellectual, economic, and social resource to every community or expanse in which it undertakes its business operations. The company believes that bettering the society is not an aspect that should be done by a few, but rather it is a responsibility that ought to be shared by all and sundry. In addition, HP has a fundamental belief that to develop consumer and investor loyalty…

Sources Used in Documents:

References

Al-Maghraby, R. (2011). How to establish a Project Management Office (PMO). PM World Today. May 2011 (Vol. XIII, Issue V).

Feldman, J. (2010). Project Management Is Finally Getting Real Respect. Information Week. Retrieved 15 July 2015 from: http://www.informationweek.com/team-building-and-staffing/project-management-is-finally-getting-real-respect/d/d-id/1093342?

Hallows, J.E. (2002). The Project Management Office Toolkit. New York: American Management Association.

Hawaii Government. (2012). PMO Development Plan. Retrieved 15 July 2015 from: https://oimt.hawaii.gov/wp-content/uploads/2012/09/Governance_PMO-Development-Plan.pdf
Hewlett Packard Website. (2015). About us. Retrieved 14 July 2915 from: http://www8.hp.com/us/en/hp-information/about-hp/corporate-objectives.html
Needs. I. (2014). The 5 Most Important Business Benefits of a Successful PMO. KeyedIn. Retrieved 15 July 2015 from: http://www.keyedin.com/keyedinprojects/article/the-5-most-important-business-benefits-of-a-successful-pmo/
Project Management Institute. (2013). HP's Account PMO Framework Builds Worldwide Consistency and Success. Retrieved 15 July 2015 from: http://www.pmi.org/~/media/PDF/Case%20Study/HP-Account-PMO-casestudy.ashx
Rouse, M. (2012). Project Management Office (PMO) Definition. Tech Target. Retrieved 14 July 2015 from: http://searchcio.techtarget.com/definition/Project-Management-Office
Westland, J. (2010). 5 Goals Every Project Manager Should Aspire to Achieve. CIO. Retrieved 15 July 2015 from: http://www.cio.com/article/2418747/project-management/5-goals-every-project-manager-should-aspire-to-achieve.html


Cite this Document:

"Benefit Of Setting Up A PMO In Hewlett-Packard" (2015, July 31) Retrieved January 22, 2022, from
https://www.paperdue.com/essay/benefit-of-setting-up-a-pmo-in-hewlett-packard-2151904

"Benefit Of Setting Up A PMO In Hewlett-Packard" 31 July 2015. Web.22 January. 2022. <
https://www.paperdue.com/essay/benefit-of-setting-up-a-pmo-in-hewlett-packard-2151904>

"Benefit Of Setting Up A PMO In Hewlett-Packard", 31 July 2015, Accessed.22 January. 2022,
https://www.paperdue.com/essay/benefit-of-setting-up-a-pmo-in-hewlett-packard-2151904

Related Documents
Benefits of Exercising
Words: 626 Length: 2 Pages Topic: Sports Paper #: 1729732

Physical Activity In these modern times, the pace of life is extraordinarily fast. This means that it has become more and more important to balance one's time with strategy and effectiveness. Given the demands on the average individual and the aggravated pace of life, it thus becomes easier to justify not exercising. So much of life involves the number of things that one can get done in a day, along

Health Benefits of Exercise
Words: 1424 Length: 3 Pages Topic: Sports Paper #: 15591010

Health Benefits of Exercise Everyone knows that exercise is good for health, but not many people exercise on a regular basis. Today, in the United States, there are very many obese people, who are basically inactive and who do not exercise. It must be acknowledged that exercise is indeed beneficial to the long-term as well as the short-term health of a person, and unless one undertakes some form of exercise on

The Rewards and Benefits from Exercise for Men and Women
Words: 1933 Length: 4 Pages Topic: Health - Nutrition Paper #: 61862219

Rewards and Benefits From Exercise Specific Purpose: The purpose of this essay is to find out the rewards and benefits individuals rewards and benefits from exercise. Consistent exercise gets rid of tension, enhances appearance, keeps person healthy, and raises stamina plus keeps you younger. In recent years, numerous individuals have turn out to be more and more aware of the need for physical fitness. Nearly everywhere individuals turn, whether it is to

Diabetes and the Benefits of Exercise
Words: 1001 Length: 4 Pages Topic: Sports - Women Paper #: 75960387

Reduce Neuropathic Symptoms Kluding, P, Pasnoor, M., Singh, R., Jernigan, S. Farmer, K., Rucker, J. Sharma, N. & Wright, D. The effect of exercise on neuropathic symptoms, nerve function, and cutaneous innervation in people with diabetic peripheral neuropathy. Journal of Diabetes and its Complications, 26 (2012) 424-429. Exercise is frequently prescribed to patients with diabetes or pre-diabetes as a method of controlling blood sugar and weight reduction. However, the effects of exercise

Exercise Science the Physiological Benefits
Words: 2196 Length: 6 Pages Topic: Sports Paper #: 79998162

Heart rates in children may reach 220 or even 225 before puberty, but tend to fall to around 200 in their late teens, so the coach should not worry on finding such high rates in exercising youngsters." (Sharp, 1) This is a demonstration of the distinct physical response of the youth's body, justifying a framing of youth physical activity as separate, different and demanding its own specific scientific attention. This

Benefits of Physical Activity and Exercise on One's Health
Words: 3536 Length: 11 Pages Topic: Sports Paper #: 30574410

Lack of physical activity and exercises increase the risk of early death by 23%, hence, showing the significance of physical activity and exercise. Incorporating other unhealthy lifestyle behaviors such as smoking, abusing alcohol, and abuse of other drug complexes the health status of an individual; hence, a premature death (Tarnopolsky, 2010). A strong relationship exists between physical activity and exercises and the risks of cardiovascular diseases. Poor lifestyles contribute to