What is P3M3®?
The P3M3 maturity model contains three sub-models:
- Portfolio Management (PfM3)
- Programme Management (PgM3)
- Project Management (PjM3).
P3M3 allows an assessment of the process employed, the competencies of people, the tools deployed and the management information used to manage and deliver improvements. This allows organizations to determine their strengths and weaknesses in delivering change.
There are no interdependencies between the models so an assessment may be against one, two or all of the sub-models. It is possible for an organization to be better at programme management than it is at project management.
Structure of P3M3
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 a five maturity levels:
- Level 1 - awareness
- Level 2 - repeatable
- Level 3 - defined
- Level 4 - managed
- Level 5 - optimized
Using the model
Currently a self-assessment questionnaire is available.
There are two levels for self-assessment of your organization:
- Standard self-assessment: A free assessment that allows your organization to determine its likely level of maturity. It cannot be used for baselining purposes
- Enhanced self-assessment: This is a subscription-based assessment you can use to determine your organization’s maturity level, but you can also record your organizations assessment for future comparison, allowing you to demonstrate improvements over time (baselining). This will allow your organization to compare their performance with other organizations (benchmarking). A report showing typical practices for organizations at five maturity levels will also be generated, to help the organization recognize them.
To subscribe to the P3M3 Self-assessments, contact [email protected] - +44 (0) 1603 695890 or visit our Store to purchase a standard or enhanced self-assessment that supports the latest version of the P3M3 Maturity Model.
The self-assessment is aimed at providing your organization with:
- An understanding of the current level of maturity in portfolio, programme and/or project management.
- A snapshot of the most likely maturity level for comparison with previous or future assessments.
The self-assessments are supported by two downloadable documents:
- An Introduction to P3M3 which explains the model and how it can be used by individuals and organizations
- A self-assessment user guide which details how to use the online assessment tool.
Updates to P3M3
In due course, AXELOS will release a revised P3M3 model and associated assesssments. The revisions take account of user feedback and requests to increase the scope and diagnostic capacity of the previous assessment.
The model has not fundamentally changed as it is still composed of seven perspectives and has five levels of maturity across the three sub-models, but will now be supplemented with two further assessments:
- A diagnostic assessment
- A certified assessment
Contact us for more information.