P3M3® Organisational Capability Assessment Model

Since inception in 2006, P3M3® has become a key standard amongst maturity models. The updated second version of P3M3® was released in June 2008 and it provides a framework with which organisations can assess current performance and develop improvement plans.

P3M3 Model

The first section of the questionnaire relates to the overall organisational maturity levels. The aim of this section is to ascertain which of the five Maturity Level descriptions best describes the portfolio, programme and/or project management processes within the organisation. The questionnaire then covers seven additional topics, one for each of the Perspectives contained within P3M3® covering:

• Management Control

• Benefits Management

• Financial Management

• Stakeholder Management

• Risk Management

• Organisational Governance

• Resource Management

The P3M3® contains three models that enable independent assessment. There are no inter dependencies between the models, so an organisation may be better at programme management than it is at project management, for example.

The models are:

• Portfolio Management (PfM3) OGC defines a portfolio as the totality of an organisation’s investment (or segment thereof) in the changes required to achieve its strategic objectives. Portfolio Management is a coordinated collection of strategic processes and decisions which enable the most effective balance of organisational change and business as usual/operations.

• Programme Management (PgM3) OGC defines a programme as a temporary, flexible organisation created to co-ordinate, direct and oversee the implementation of a set of related projects so that it can deliver an outcome greater than the sum of its parts.

• Project Management (PjM3) is defined as a unique set of coordinated activities, with definite starting and finishing points, undertaken by an individual or team to meet specific objectives within defined time, cost and performance parameters as specified in the business case.

P3M3® uses a five-level maturity framework. The five Maturity Levels are:

• Level 1 – awareness of process

• Level 2 – repeatable process

• Level 3 – defined process

• Level 4 – managed process

• Level 5 – optimized process

P3M3® Model – Portfolio Programme and Project 5 Levels

As an OGC® Accredited Consultancy Organisation (ACO), Wired Consulting has Registered Consultants who are authorised to undertake consultancy assignments based on the P3O®, MSP®, PRINCE2® and the P3M3® Model.

There are a number of advantages in using ACOs, namely:

• ACOs and their Registered Consultants have all undertaken a rigorous assessment process meeting APMG standards.

• ACOs and Registered Consultants are re-assessed regularly to ensure that they continue to meet the high standards we set.

• ACOs These are the only organisations licensed to use the Maturity Models and assess organisations' level of maturity in PRINCE2® and Project Management.

• ACOs are the only organisations that have the right to extract UK Crown Copyright material from the PRINCE2® manual when delivering consulting services.

• Due to their close relationship with APMG, ACOs are up-to-date with developments concerning the methodology and have access to pre-release information prior to new versions of the manual being released.

• A PRINCE2 ACO must employ at least one PRINCE2® Registered Consultant to lead assignments that address PRINCE2®, its introduction, improvement or maturity level.

If you would like to know how Wired Consulting assisted the Federal Court of Australia understand and improve their PPPM capabilities through a P3M3 assessment click to review the case study here: Case Studies

If you would like to know more about P3M3® click to Contact us level