Software development projects, especially complex ones, have a notoriously high failure rate—some estimates are as high as 60%–70% of software projects fail to deliver on their requirements and cost estimates.
A PMO, often reporting directly to the CIO, provides guidance and support to projects in implementing best practices, complying with standards and using tools to help keep projects on track. PMOs may conduct project reviews and increasingly are being expected to be directly accountable for project results. In some organizations, the PMO is staffed with experienced personnel who are loaned out to manage IT projects.
To read more, go to :http://fearnoproject.com/2009/02/20/do-you-need-a-pmo/