The Portfolio, Programme, and Project Management Maturity Model (P3M3) has become a key standard amongst maturity models, providing a framework with which organisations can assess their current performance and put in place improvement plans.
As organisations strive to identify and leverage competitive and performance advantage from improved efficiency and delivery, the importance of management models on which to assess this performance and identify opportunities for improvement has increased.
The updated second version of the Portfolio, Programme, and Project Management Maturity Model (P3M3) was released in June 2008, with a further update, version 2.1, released in February 2010. The current version takes into account the maturing knowledge of programme management, and the evolving recognition and definition of portfolio management, across a number of industry sectors. It is fully compatible with the earlier version, so organisations that have already undertaken P3M3 assessments based on the first version will see the impact of their existing improvement plans reflected in future assessments made under the revised model. The key benefit that P3M3 can bring to your organisation lies in the identification of attributes that are key to your organisation’s business performance at each level of maturity. The model allows your organisation to identify areas of strengths and weaknesses in its change delivery processes. This information can be used to develop improvement plans to increase confidence in the organisation’s ability to deliver.