Section 2 – PMO Mission, Charter, and CompetencyThe purpose of the Portfolio Project is to synthesize current research about the project management office (PMO) for the purpose of developing a PMO recommendation. The Portfolio Project is structured to help you demonstrate understanding of the course material, as well as the implications of new knowledge gained from research beyond the course readings and lectures.Your Portfolio Project will be developed in three independent but cohesive sections, which considered in whole constitutes your PMO recommendation. The three sections are: Section 1: Subject Organization and Rationale Section 2: PMO Mission, Charter, and Competency Section 3: PMO RecommendationsSection 1 and Section 2 will be submitted as Portfolio Project milestones in Module 3 and Module 6, respectively. Section 3 will constitute your final Portfolio Project due at the end of the course in Module 8.Based on your Section 1 choice, one of the two PMO recommendation options will be performed for your Portfolio Project assignment, which are described as:Option #1: Recommendation for the implementation of a new PMO- or -Option #2: Recommendation for the advancement of an existing PMOFor Section 2: PMO Mission, Charter, and Competency of the Portfolio Project, you will build on the information detailed in your Portfolio Project Section 1. Based on analysis of your subject organization and further research, purpose the PMO’s mission and vision, PMO charter, and PMO competency continuum stage resultant from your Option 1 or Option 2 recommendation. To this end, substantively address the following key elements for your subject organization’s PMO recommendation: Develop the PMO’s Mission and Vision including: State the PMO’s mission and vision. Validate alignment with subject organization’s mission and vision. Designate key PMO stakeholders. Develop the PMO’s Charter: State the PMO’s business purpose. Describe the PMO’s business alignment and affiliation. Designate the PMO’s empowerment authority. Describe the PMO’s fiscal management. Identify the Charter approval. Relate to the PMO competency continuum: Designate the PMO competency continuum stage. Justify the subject organization’s designated PMO competency continuum stage determination. Correlate the designated PMO competency continuum stage to the Organizational Project Management Maturity Model (OPM3). Submit your Section 2 Portfolio Project Milestone as a single Microsoft Word document to the Module 6 submission area established for this purpose.Your essay should address the following requirements: Your well-written PMO recommendation essay thesis should be 6 pages in length, which does not include the title, reference, or appendix pages. You need to add headings and subheadings associated with each of the bullet points listed in the Section 2 requirements. Format your paper per the CSU Global Guide to Writing & APA (Links to an external site.) standards, which includes an introduction and conclusion. Include title and reference pages. In addition to your course textbook, cite at least four current (published within the past 5 years) scholarly resources (peer-reviewed, official governmental reports, and other scholarly sources) to support your suppositions, assertions, and conclusions. To enhance your learning experience, scholarly resources are available from the CSU Global library. Include an appendix for tables and figures as appropriate.Please write clearly, concisely, and cohesively; use section level headers to organize the key elements of your thesis.