One of the most frequently debated questions we have seen in today's PMO environment is that of "How much is enough process, governance and oversight"?
Business managers want to be nimble and responsive and sometimes have little appetite for what they perceive as the bureaucracy of the PMO office. Project team members and SMEs may likewise feel like they are being slowed down by complying with the methodology of the PMO.
To all sides of this argument, we say "Yes! You can make reasonable compromises to reduce project overhead." It all comes down to Risk management and how much tolerance you have for it.
We had devised a Risk Analysis Spreadsheet that takes into account only 24 questions and scorecards them into 3 distinct project buckets - Small / Medium / Large. This shirt-sizing approach then let us manage each bucket according to a tailored methodology and governance plan. The small projects used a light-weight methodology and proceeded through a limited number of stage gates and approvals. Conversely, the large high-risk projects utilized the most rigorous methodology and governance track.
We believe in eating our own dog food -- so after we ran our project list through the Risk Analysis Spreadsheet we leveraged the Method123 Project Management Methodology (MPMM) tool to customize 3 distinct paths for each of these project types.