ESG in Your PMO: 5 Reasons It’s Important to Build into Your Projects

Building ESG into Projects

ESG in Your PMO: 5 Reasons It’s Important to Build into Your Projects

The importance of bringing environmental, social, and governance (ESG) issues into focus within your project management office (PMO) can’t be overstated. ESG is becoming a priority for businesses, and we’ve got five reasons it is important for your projects.

1. A focus on ESG attracts better project management talent

It can be a struggle to recruit the best talent for your PMO and for your projects. In fact, the shortage of skilled and qualified project management workers could cost the global economy over US$300 billion by 2030.

2. ESG considerations can help reduce project costs

It may feel counterintuitive, but working on ESG can actually reduce project costs. For example, changing packaging suppliers for a project to use more sustainable materials could have higher costs at first to change manufacturers, but in the long run, can be cheaper.

3. Reduce project risks with ESG

Better governance of projects can reduce risks — this is likely one of the reasons your PMO exists at all.

  • Robust project processes
  • Clear project documentation
  • A framework for decision-making
  • Accurate lines of reporting

4. ESG can win your PMO better contracts

From government contracts to venture capitalists, everyone is paying attention to ESG. Whether your projects are delivered to external clients or your change agenda is internal, whoever works with your business will care about ESG.

5. ESG makes a PMO and the business more resilient

When ESG is embedded in projects through your PMO, your office is more ready for changing rules and business practices. By having processes and procedures documented and easy to follow with good governance, you can more easily make changes when needed, as an example.

The importance of ESG to projects

These five reasons why ESG is important to projects demonstrate why you need to adapt your working and processes to embed these ideas. Your office and wider business will benefit from being ahead of the curve.

Related Posts:

Stakeholder Relationships – Why You Need to Strengthen Your PMO’s Supplier Engagement
ESG in Your PMO: 5 Steps to Embed ESG into Your Projects
Overview: Securing continued project funding
PMO behaviours
PMO frustrations
How to prevent your project from failing to land!

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Pm Majik

Pm Majik

Evangelist of the Project Management Office (PMO)