Finance leaders today are finding it increasingly difficult to balance the multitude of responsibilities and non-routine initiatives facing the finance function. Overburdening of functional leaders with program management responsibilities limits the ability to balance multiple parallel initiatives. Moreover, many organizations fail at implementing their improvement plans either because senior management does not share a common vision for the future or cannot agree on the roadmap to get there.
Organizations with a dedicated program management office (PMO) are better positioned to identify and address these issues early in the project lifecycle. To successfully lead an organization through a program of transformational change, a finance program management office is crucial. The PMO can also help the organization visualize the benefit of change. This guide discusses the common challenges faced by finance leaders and suggests structuring a finance program management office to drive change.