This paper presents the findings of research conducted in 2007 with the aim to examine the strength of the alignment of Project Management Office (PMO) theory with practice in Australia. 241 project managers from a broad spectrum of Australian industries responded to an anonymous questionnaire for data analysis. The balance of the evidence derived from the research was that PM0s in practice were not as simple to implement as the published theory might suggest. The assessment of perceived value is difficult to undertake, and assessment of PM0 value seems to give rise to more negative perceptions than positive reinforcements.The responses to the questionnaire indicate that strong reliance on theory for modelling and implementing a PMO is likely to lead to some disappointment. The realised value of a PM0 does not appear to be a consequence of published theory. Refereed/Peer-reviewed