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Management maturity model

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What is P3M3?

P3M3 is a maturity model that measures an organization's capability with regards to its project, programme and portfolio management practices. The measurement is expressed as a 'maturity level' that indicates an organization's current capability in these practices.

 

An organization's maturity is a measure of its effectiveness , efficiency and ability to implement continuous improvement, and a maturity model, like P3M3, is a management tool that can be used to diagnose root causes, assess current capability, and demonstrate improvement. It also acts as a roadmap to achieving performance targets.

How does P3M3 work?

P3M3 framework covers maturity levels related to three domains: portfolio management (PfM3), programme management (PgM3) and project management (PjM3). These are further divided into  five levels based on the level of maturity

 

  • Level 1: awareness of process

  • Level 2: repeatable process

  • Level 3: defined process

  • Level 4: managed process

  • Level 5: optimized process

 

These maturity levels are a measure of an organization's ability to deliver predictive results - the higher up the curve the more predictable the outcome. Each level is then broken down into seven performance perspectives:

  • Organisational governance

  • Management control

  • Benefits management

  • Risk management

  • Stakeholder management

  • Finance management

  • Resource management

 

Each of the three models within P3M3 can be used separately or together to provide a basis for the development of an improvement plan. To help an organization to be more effective in delivering change and transformation through its portfolios, programmes and projects.

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How can P3M3 benefit your organisation?

So how does P3M3 help?

 

  • More effective use of budgets delivers cost savings

  • Improved delivery of benefits

  • Enhanced quality of delivered projects and programmes

  • Stronger processes in benefits management leads to better return on investment

  • Better predictability of outcome delivers better investment decisions

  • Diagnostic assessment means improved value in the training budget

  • A baseline for capability provides concrete metrics for performance improvement

PM Expert's P3M3 assessment

Self-assessment

 

A group of project and programme managers, sponsors, internal customers and team members complete self-assessments using the online assessment tool.

Validation

 

PM Expert's  consultants evaluate the self-assessments and validate the scoring by completing face-to-face interviews with a selection of PMs and other stakeholders.

Workshop

 

Initial findings are presented to a work group, along with recommendations for further development, and these are then prioritized.

 

Plan

PM Expert's  consultants document the findings and collaborate with the work group to develop a high-level plan for implementing recommendations.

Assessment outputs include:

  • Baseline for current capability

  • Six-month and 12-month targets

  • Practical recommendations and high-level implementation plan

 

The plan can then be executed by the client organisation or implemented by a PM Expert's consultant.

Within two weeks, our assessment team will capture current data, establish a measurable baseline for current capability and develop practical measures that will develop maturity in your project management delivery.

Measure your organisation's performance with a P3M3 assessment