4.5 billion euros in fines have been imposed on companies for data protection violations since the General Data Protection Regulation (GDPR) came into force. This large sum shows that compliance violations can be very expensive for companies. However, it is not only the legal consequences that are significant – the resulting loss of reputation can also be immense. Despite these serious consequences, the topic of compliance is often overlooked in the hectic everyday work and project routine.
The term compliance not only includes a large number of rules and regulations, but also describes their implementation within the company. In addition, compliance in the broader sense acts as a guard rail for corporate behaviour and is based on various laws, such as the Working Hours Act or the GDPR. Multiversum is rethinking the tasks of a Project Management Office (PMO) in order to take compliance in projects into account appropriately.
Relieving project teams and minimizing legal risks: the Regulatory-PMO
A traditional PMO takes on organizational activities such as documentation in projects. However, the tasks of a Regulatory-PMO go far beyond this. It translates regulatory requirements into processes and navigates the project teams safely through these processes. The Regulatory-PMO forms a bridge between the legal department and the project team. This saves valuable resources on both sides and allows them to focus on the actual work.
Another contribution of the Regulatory-PMO lies in target group-orientated communication. Depending on the size of the project, additional experts can be involved or the Regulatory-PMO can initiate or even conduct a stakeholder analysis. Based on this, customized communication measures are developed to ensure that the benefits of compliance are clear to all project participants.
A Regulatory-PMO expands the classic organizational tasks of a PMO. Multiversum offers innovative project support in which compliance issues also receive sufficient attention. Our experienced consultants combine regulatory expertise with analytical skills and a structured way of working. This unique combination enables us to work with you to master the topic of compliance and minimize legal risks. Please contact us for a customized consultation on your regulatory challenges.
