Riyadh: PIF Official Emphasizes Importance of xMO Model in Project Management
In a bold statement at the Global Project Management Forum in Riyadh, Areej Naqshbandi, head of the Project Management Office at Saudi Arabia’s Public Investment Fund, underscored the significance of adopting an evolved project management office model, known as xMO, to drive program and initiative outcomes.
Naqshbandi highlighted the shift towards xMO as a game-changer for organizations, offering them a more effective pathway to achieve their goals. The Project Management Institute defines xMOs as entities that prioritize outcomes over processes, thus enhancing value flow within organizations.
“This trend of transforming PMOs into xMO is revolutionary. While PMOs traditionally focus on processes and project execution, xMOs emphasize outcomes and value delivery,” stated Naqshbandi passionately.
She further explained, “The move towards xMO is not merely a trend; it presents organizations with a golden opportunity to equip themselves with a powerful toolkit to reach their ultimate objectives. xMOs ensure quicker returns on investments by streamlining processes and fostering adaptability.”
Distinguished by their flexibility, supportive mindset, and strategic acumen, xMOs represent advanced PMOs that focus on value delivery rather than just project execution. Naqshbandi pointed out that Saudi Arabia’s Public Investment Fund exemplifies the xMO approach, utilizing it to align with the goals set forth in Vision 2030.
“We are at the forefront of implementing innovative trends, solutions, and strategies to drive the achievement of Vision 2030 goals,” she asserted confidently.
Naqshbandi highlighted the role of Saudi Arabia’s PMO in nurturing a robust project management ecosystem within the Kingdom, emphasizing the importance of community engagement and knowledge sharing to make a positive impact on the project management landscape.
Badr Al-Dulami, Saudi Arabia’s vice minister at the Ministry of Transport, echoed Naqshbandi’s sentiments, emphasizing the inclusive nature of the Kingdom’s project management strategy that spans across all sectors.
“It is a source of great pride to witness Saudi Arabia leading globally and locally with its ambitious vision, driving the growth of giga projects throughout the Kingdom. Vision 2030 signifies a journey for an ambitious nation, not just a final destination,” Al-Dulami remarked passionately.
The Global Project Management Forum, which kicked off in Riyadh on June 2, serves as a premier platform for project management professionals, with over 2,000 participants, including project managers and diverse stakeholders, expected to attend this annual event.