Aside from BPO, ITO, and KPO outsourcking, businesses and their executives are provided with a new choice in outsourcing (PMO outsourcing and Project Management outsourcing), some say it is the answer to issues related managing the oustsouring efforts itself, and has a potential for considerable cost savings, if the relationship is setup properly.

(PRWEB) November 23, 2009 -- Cost savings, perhaps a primary driver, the global trend for the past decade has been to outsource, primarily the operations and maintenance functions to overseas or to a company that specializes in that specific field. We have seen outsourcing of I.T functions as a whole, or some subset, like, datacenters, Webhosting, call centers, applications development, etc. In the past few years outsourcing have expanded to pharmaceutical research and development, accounting services, etc. Whether its Business Process Outsourcing (BPO), such as billing, purchasing etc, or Information Technology Outsourcing (ITO), a subset of BPO, or Knowledge Process Outsourcing (KPO), which has recently picked up steam, which includes processes that demand advanced research and analytical, technical and decision-making skills, such as pharmaceutical R&D, etc. Projects and Programs stem out of each of this type of outsourcing, so who then is managing them?

The reasons for outsourcing vary but often include one or more of the following: , Realizing the need and the trend, and to fulfill the gaps and deficiencies in Project Management and PMOs, PM Spectrum, a provider of Project Management and PMO setup services in the U.S and internationally since 2002 has now begun to offer its services in distinct packages, including virtual PMO, that not only results in cost savings, but also include other valuable "POWER" services, i.e., strategic planning, portfolio management, training, providing project resources, etc. which as separate service would be costly.

The goal as per Manny Baig, the Managing Director, is to provide services to businesses that would allow them to fully concentrate on their core competencies, while leaving Project Management and PMO functions to PM Spectrum, their core competency.

When Manny Baig, the PM Spectrum's managing director, was asked what makes PM spectrum unique and stands out from its competition. His response was "Our Service offerings packages are unique addressing all deficiencies in current industry PMO models, leaving the project delivery, PMO setup and management accountability to us, a sure peace of mind for executives, realizing an average savings of $500,000 per year, no other company as far as I know provide such services"

The packaged service models and their associated value propositions alone distinguished them from their competition, as each model includes Service Level Agreements for project timelines, resources, online data and documents availability, assistance regulatory audits, etc.

Other prominent institutions have begun to shed light on this trend and the benifits and pitfalls to watch out for under this type of outsourcing. All indices indicate the trend is on the rise and more and more executives are at least entertaining the idea of outsourcing PMO and Project Management services.