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Novare Consulting explain P3M3
The document outlines the P3M3® approach to assessing and improving project, programme, and portfolio management maturity, emphasizing the need for organizations to evaluate their management practices to enhance performance. It details the characteristics of successful projects, programmes, and portfolios, as well as the methodologies for conducting maturity assessments. The overall goal is to identify strengths and weaknesses, formulate improvement plans, and implement recommendations to drive performance upgrades within organizations.
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Novare Consulting explain P3M3
- 1. www.novareconsulting.com Copyright Novare Consulting NovareConsulting P3M3 Sponsored by AXELOS and APMG
- 2. www.novareconsulting.com Our Certifications Certified byleading, internationally-recognised professional bodies to provide consultancy, training, coaching and mentoring www.novareconsulting.com
- 3. www.novareconsulting.com P3M3® is atrademark of AXELOS Limited, used under permission of AXELOS. All rights reserved. Topics What does good look like? What is P3M3? P3M3 Approach Undertaking a P3M3 Assessment Results and Recommendations Project, Programme and Portfolio Management Maturity Model
- 4. www.novareconsulting.com The Challenge • Deliveringa complex range of challenging projects and programmes as part of a portfolio • Not all of them succeed • Desire to measure the maturity of approach to portfolio, programme and project management • Using an impartial and independent approach to assess management maturity • To secure recommended actions to strengthen performance How can we improve our PPM performance?
- 5. www.novareconsulting.com Projects Programmes andPortfolios What does good look like for each of these 3 levels?
- 6. www.novareconsulting.com What Do GoodProjects Look Like? • On time delivery? • On budget delivery? • No quality issues? • Benefits realised? • Scope delivered including approved changes? • Risks managed so no issues?
- 7. www.novareconsulting.com What Do GoodProgrammes Look Like? How do you measure what good programmes look like? • All projects successful? • Stakeholders satisfied? • Overall programme’s future state realised? • Strategic objectives achieved? • Business performance improved? • Transformation achieved? • Benefits realised?
- 8. www.novareconsulting.com What Do GoodPortfolios Look Like? How do you measure what good portfolios look like? • Well chosen projects and programmes? • Balanced prioritisation of resources? • Organisation’s stakeholders satisfied? • Projects and Programmes stopped when no longer adding value? • Change balanced with business as usual? • Delivered within risk appetite of organisation?
- 9. www.novareconsulting.com Purpose of MaturityModels • Assess maturity of projects, programmes or portfolios to improve performance • Measure against 1 or more of the perspectives to identify areas to improve • Outputs provide an assessment of the organization’s strengths & weaknesses and a rating against an international standard • This information can be used to build an improvement plan P3M3
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- 11. www.novareconsulting.com P3M3 Model &7 Perspectives Seven Perspectives
- 12. www.novareconsulting.com The P3M3 Perspectives Managementcontrol Benefits management Financial management Stakeholder engagement Risk management Organizational governance Resource management
- 13. www.novareconsulting.com Overall Assessment • Eachperspective • Each Level • Assessed across multiple examples • Against P3M3 guidelines
- 14. www.novareconsulting.com But Organisations areDifferent! Our P3M3 Assessments consider the context of the organisation
- 15. www.novareconsulting.com P3M3 Consultants UseThreads To Assess Each Perspective ASSET MANAGEMENT ASSURANCE BEHAVIOURS COMMERCIAL (PROCUREMENT) COMMERCIAL (SELLING) INFORMATION & KNOWLEDGE MANAGEMENT INFRASTRUCTURE & TOOLS MODEL INTEGRATION ORGANIZATION PLANNING PROCESS STANDARDS TECHNIQUES Optional Threads
- 16. www.novareconsulting.com Example: Resource ManagementAttributes • Resource identification and analysis • Resource planning • Resource management expertise is available to support project teams • Capacity and demand management • Resource profiling • Resource frameworks/recruitment • Defined sets of responsibilities for each role • Resource utilization and performance reportingOur detailed P3M3 assessments explore and report on these attributes
- 17. www.novareconsulting.com P3M3 Assessment Scope P3M3Assessments triangulate information from a number of sources
- 18. www.novareconsulting.com Typical Assessment Approach •Scoping Workshop • Assessment Workshops to discuss SWOT • Assessment plan and schedule • Review processes and documents • Interview relevant personnel including governance • Compile report and scoring of assessment • Prepare Improvement Plan • Report back to key stakeholders Conducted by experienced Novare Consulting practitioners
- 19. www.novareconsulting.com Example Portfolio LevelMaturity – Organisational Governance
- 20. www.novareconsulting.com Recommendations and Change •Recommendations create the need for change • Create a realistic future state in terms of maturity • Engage with stakeholders to develop a plan and agree the benefits • Deliver some quick wins and sustain the momentum • Typically takes 12-18 months to move up a level Novare Consulting core services are aimed at improving PPM performance
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- 22. www.novareconsulting.com Novare Consulting Booths Hall ChelfordRoad Knutsford Cheshire WA16 8GS training@novareconsulting.com www.novareconsulting.com T: 0161 926 1840 F: 0161 926 1844 We hope that you enjoyed the workshop Novare Consulting Booths Hall Chelford Road Knutsford Cheshire WA16 8GS training@novareconsulting.com www.novareconsulting.com T: 0161 926 1840 F: 0161 926 1844