P3M3 - Invested in the optimisation of your Project, Programme and Portfolio Mangement but no lasting improvements? P3M3 assessment may help you to discover why. A very short introduction by Profeo Ltd.
P3M3 - Assessment of Portfolio, Programme and Project Management
P3M3 Profeo Assessments Presented by Profeo Ltd.
P3M3 ® - Maturity Model <ul><li>The model to measure </li></ul><ul><ul><li>P roject Management M aturity </li></ul></ul><ul><ul><li>P rogramme Management M aturity </li></ul></ul><ul><ul><li>P ortfolio Management M aturity </li></ul></ul><ul><li>Registered Trade Mark of the Office of Government Commerce (OGC) </li></ul><ul><li>Published by The Stationery Office (TSO) </li></ul><ul><ul><li>Developed 2006 </li></ul></ul><ul><ul><li>Revised edition 2008 </li></ul></ul><ul><li>P3M3 has developed into a standard maturity assessment model </li></ul><ul><li>P3M3 is based on CMMI </li></ul><ul><li>P3M3 contains </li></ul><ul><ul><li>3 models </li></ul></ul><ul><ul><li>5 maturity levels </li></ul></ul><ul><ul><li>7 perspectives </li></ul></ul>
P3M3 Maturity levels The organization assesses its capacity to manage programmes and projects and prioritize them accordingly. Level % of Organisations Project Management Programme Management Portfolio Management 5 2% Undertake continuous process improvement with proactive problem and technology management. 4 4% Obtain and retain specific management metrics on its management performance and run a quality management organization to better predict and control future performance. 3 9% Have its own portfolio management process and centrally controlled programme and project processes with individual programmes and projects being able to flex within these processes. 2 85% Ensure that each programme and/or project in its portfolio is run with its own processes and procedures to a minimum specified standard. (There may be limited consistency or coordination). 1 Recognize projects and run Them differently from ongoing business. (Projects may be running informally with no standard processes or tracking system). Recognize programmes and run them differently from projects. (Programmes may be running informally with no standard processes or tracking system). Have an Executive Board that recognizes programmes and projects and maintains a list, without perhaps a formal tracking mechanism and documented process.
P3M3 Key Aspects Governance looks at how the delivery of projects is aligned to the strategic direction of the organisation. It considers how start-up and closure controls are applied to projects and how alignment is maintained during a project’s lifecycle. This differs from management control, which views how control of a project is maintained internally. Governance Perspective Description Management Control Management Control covers how the direction of travel is maintained throughout the project’s lifecycle, with appropriate break points to enable it to be stopped or redirected by a project board (or equivalent) if necessary. Benefits Management Benefits management is the process that ensures that the desired business change outcomes have been clearly defined are measurable and are ultimately delivered through a structured approach and with full organisational ownership. Stakeholder Management Stakeholder management includes communications planning, the effective identification and use of different communications channels, and techniques to enable the project’s objectives to be achieved. Risk Management Risk Management is the process to systematically identify and manage opportunities and threats. Finance Management Finance is an essential resource that should be a key focus for initiating and controlling projects. Financial management ensures that the likely costs of the project are captured and evaluated within a formal business case and that costs are categorised and managed over the investment life cycle. Resource Management Resource management covers management of all types of resources required for delivery. These include human resources, buildings, equipment, supplies, information, tools and supporting teams.
Reasons for using P3M3 Example After a merger US Listed companies (or their subsidiaries) whose revenue is largely project based Just implemented a project management standard but performance has not gone up Organisations facing stakeholder scrutiny Benefit Helps determine which processes and tools to adopt as the new corporate standard. P3M3 compliance at Level 3 or higher will indicate robust project processes regarding the revenue and profit statements in quarterly/annual returns (SOX requirement) Identifies underlying reasons for non-performance and fosters understanding on how to unlock latent capability. Independent assessment and certification to demonstrate capability (<5% of organisations are Level 3 or higher!)
Profeo‘s Assessments On-line Survey Discovery Assessment Diagnostic Assessment Certification Assessment Purpose Benchmarking Identify shortcomings & areas of improvement Identify sources & improvement plan Certificate Resource requirements from 12 to 200 (internal staff) 3 interview partners Minimum 9 interview partners + 200 for on-line survey Minimum 9 interview partners Duration Client preference 2 - 3 weeks 4 - 6 weeks 3 - 4 weeks Consultant lead Authorised consultant Benefit To baseline an organisation’s likely maturity and benchmark with companies of the same industry A discovery of capability in order to prioritise improvement plans Diagnose reasons for weaknesses in order to define measurements for improvement To assess an organisation’s maturity level in order to award a certificate for the level achieved
Interested ? <ul><li>Contact in Switzerland Profeo Ltd. Hoval Haus General Wille-Str. 201 CH-8706 Feldmeilen T +41 (0)43 499 78 90 F +41 (0)43 499 78 89 E: [email_address] Claudia Kary Managing Director T +41 (0)43 499 78 90 E: [email_address] </li></ul><ul><li>Contact in Germany Profeo AG – Office Germany Franz-Joseph-Str. 41 D-80801 München Andreas Reichmann Manager Profeo Germany T +49 (0)89 64910857 E: [email_address] </li></ul><ul><li>Website: www.profeo.com </li></ul>