Vimarsha is typically associated with a related concept, prakasha. Prakasha is the pure consciousness of the Absolute Reality, while vimarsha is the reflection or self-expression of prakasha. In terms of Tantric metaphysics, prakasha represents the Hindu god, Shiva, while vimarsha is the goddess and divine energy, Shakti. Prakasha might be described as the light of divine consciousness, while vimarsha would be the reflection of that light.
Puno'ham vimarsha, therefore, is contemplation of the concept that the inner self is, indeed, divine, or one with the higher Self. Contemplation, or dhyana, is the seventh of the eight limbs of yoga, as described in "The Yoga Sutras of Patanjali."