Portfolio, Programme and Project Management Maturity Model (P3M3®)†
Introduction and Guide to P3M3®†
This new version of OGC’s Portfolio, Programme andProject Management Maturity Model (P3M3) is fullyupdated to take into account the latest knowledgeand best practice in portfolio, programme and projectmanagement, including other OGC tools such asGateways, as well as extensive feedback on theoriginal model.
It is fully compatible with the first version of P3M3,so if your organization has already had assessmentsbased on that version, you can move seamlesslyto applying this version and will be able to see theimpact of any current improvement plans reflected infuture assessments under the revised model. Equally,it applies to organizations new to maturity modelsthat wish to adopt this approach to performance andcapability measurement.
This version has also been overhauled in threemain ways:
- it is written in plainer English, with a user-friendly layout, making it easier to read and understand
- maturity in different areas or major processes can be assessed individually or together
- maturity in portfolio, programme and project management can be assessed independently of each other, making it suitable for businesses at all stages of development.
In a competitive world, your organization will beconstantly on the lookout for strategic advantagesand striving for efficiency and quality in performanceand delivery. With P3M3 you can easily assess yourorganization’s current capabilities, identify where youwant to be in the future and implement the necessaryimprovements in a clear and structured way, withmeasurable results.
Whatever the size or nature of your organization, asits maturity increases and its processes and capabilitiesimprove, you will be able to reap the benefits in manyways, including:
- a higher rate of return on investment
- greater production efficiency
- lower production costs
- better quality outcomes
- improved customer satisfaction
- enhanced employee morale
P3M3 is not simply about isolated, here-and-nowassessments – it also acts as a roadmap for ongoingimprovement and progression towards realistic andachievable goals that are suitable for your businessneeds and aspirations. With this roadmap as yourguide, in the longer term your organization can reachits optimal level of performance and maximize valuefor money from investment. Because P3M3 recognizesachievements from investment as well as highlightingweaknesses, and justifies further investmentin portfolio/programme/project managementinfrastructure, it contributes to a virtuous circle oflearning and improvement.
So, whether you want a quick health check of yourorganization’s strengths and weaknesses against abenchmark standard, or a more detailed and widerangingassessment with a full development plan,P3M3 is an indispensable tool. It is flexible, so it canbe used in many ways, with a broader or narrowerfocus, according to your business needs. Assessmentscan be made informally by your organization or bya formal independent review for a more thoroughinsight into where you are, where you could be in thefuture and how to get there. The new self-assessmenttool sets out these possibilities in more detail.