PPM Maturity Assessment & Planning using P3M3
What is PPM?
PPM stands for Portfolio, Programme and Project Management, and also includes value and risk management. PPM maturity is a reference to an organization’s capability to deliver a portfolio, projects and programmes.
A coordinated collection of strategic processes and decisions that together enable the most effective balance of organizational change and business as usual.
Programme Management: The coordinated organization, direction and implementation of a dossier of projects and transformation activities (i.e. the programme) to achieve outcomes and realize benefits of strategic importance.
Project Management: The planning, delegating, monitoring and control of all aspects of the project, and the motivation of those involved, to achieve the project objectives within the expected performance targets for time, cost, quality, scope, benefits and risks.
What is PPM Maturity Assessment?
The Portfolio, Programme, and Project Management Maturity Model (P3M3) provides a framework for organizations to assess and benchmark their current performance and effectively develop plans for improvement.
P3M3 Sub-models, Perspectives and Maturity Levels
The P3M3 maturity model sub-models are as follows:
- Portfolio Management Maturity Model (PfM3)
- Programme Management Maturity Model (PgM3)
- Project Management Maturity Model (PjM3)
Each sub-model is further broken down into seven perspectives:
- Organizational governance
- Management control
- Benefits management
- Risk management
- Stakeholder management
- Finance management
- Resource management
The P3M3 model has five maturity levels
Level 1: Awareness
Level 2: Repeatable
Level 3: Defined
Level 4: Managed
Level 5: Optimized
Benefits of P3M3
Through base lining an organization’s performance, it is possible to identify areas where an organization can most effectively increase its project, programme and portfolio capability. Therefore, the kind of benefits expected from using P3M3 to develop and implement an improvement plan would be:
- Cost savings
- On delivering project outputs and program outcomes
- integrate processes across an organization
- More effective use of budgets
- Improved benefits delivery
- Improved quality of delivered projects and programs
- Improved customer satisfaction
- Increase return on investment
- Providing plans for continual progression
- Recognizing achievements from previous investment in capability improvement
- Focusing on the organization’s maturity, not specific initiatives