A global model from AXELOS to assess and
improve P3M maturity
Used by leading governmental and non-
P3M3® Model governmental organizations in UK, Australia,
Portfolio, Mainland Europe and in Middle-east regions.
Programme and
Enables better design of the project portfolios
Project to address organization’s strategic goals,
Management improved benefits realization and reduced
Maturity time/ cost overruns for projects.
Model- An
GRT Consulting are amongst the few global
overview AXELOS Consulting Partners for P3M3® and
was the first ACP in the Asia region.
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There are multiple reasons for organizations to move up in
a maturity journey level. These include:
• Gaining a sharper focus on Return of Investment /
Justification for investments in Project Portfolio
Management
Why • Enhanced delivery quality for better customer
satisfaction and better governance
Organizations • Deployed structures for managing continual
take up improvement, with an integrated approach covering
processes, capabilities, culture and tool functionalities
Maturity • Providing better justification for business cases of
change, quality outcomes and benefits realization
improvement? • Obtaining a better understanding of strengths and
weaknesses for maturity improvement
• Fostering higher employee morale …
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Portfolio, programme and project management
maturity model (P3M3® )- perspectives
P3M3
Portfolio Programme Project
management management management
Organizational Management Benefits Stakeholder Risk Financial Resource
governance control management engagement management management management
P3M3® is a registered trade mark of AXELOS Limited
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What do these perspectives stand for?
Sl. Perspective What it pertains to? (A high-level description- at a Project level. Similar explanations for
No programme and portfolio models apply)
1 Organizational Extent of alignment of projects to organizational strategy/ Transparency in decision
Governance making/ Setting up of processes for Escalation management/ Project Steering Committee
roles and their empowerment
2 Management Control PM performance management control setup and effectiveness/ Progress reporting/
Exception management/ Stage-gate review process effectiveness
3 Benefits Management Management of the value from Project investments/ Benefits management focus of
projects/ Linkage of projects to outcome and benefits / Definition of business
requirements in relation to the benefits
4 Stakeholder engagement Key stakeholder engagement and communications management/ Use of diverse
communication channels to achieve project objectives/ Evidence of Change management/
Effectiveness of Culture related change
5 Risk management How effectively risks are managed and controlled?/ Linkage of risk management to project
management
6 Financial Management Business case formulation of the projects and tracking them for continued viability/
Tracking of Spending / Effective funding utilisation/ Alignment of project financial
management processes with organizational financial systems
7 Resource management Capacity planning and Capability enhancement/ Optimum resource allocation and control.
Balancing of demand and supply for resources (including Human Resources/Infrastructure) 5
Project Portfolio Mgt – Maturity levels-
an overview description
Continuous improvement/ Proactive
5- ’Optimized’ planning and execution/ Effective
risk management and ‘Defect proofing’.
Quantitative analysis/ KM/
Quality Mgt/ Metrics . 4- ‘Managed’
Defined processes and
3- ‘Defined’ structures. Scalable guidance.
Consistency in P3M.
Few PMs follow P3M
processes . No consistency 2- ‘Repeatable’
or repeatability across the
Organization. P3M processes followed
1- ‘ Awareness’ in ‘bits and pieces’.
Level 0 - ‘ Ignorance’
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• PORTFOLIO, PROGRAMME AND PROJECT
OFFICES (P3O® ) is a robust framework from
AXELOS, giving an overview of how to set-up,
C.P3M3® implement and operate an EPMO
Model
C.P3M3® Model
C.P3M3®
Portfolio, Model • P3O model gives guidance on setting up of an
Portfolio,
Portfolio,
P3O ® EPMO at portfolio, programme and project
Programme
Programme
Programme and
and
levels, giving an integrated and interconnected
framework
Project - An PMOs, with seamless information flow.
and Project
Project
overview
Management
Management
Management • GRT Consulting, as an AXELOS Consulting
Maturity
Maturity Partner, specialise in setting up/ enhancing
Maturity
Model-
Model-An An EPMOs , suiting the maturity of the
organization.
Model-
overview
overviewAn
overview
P3O® is a registered trademark of AXELOS Limited
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P3O Value Matrix
P3O® is a registered trade mark of AXELOS
Limited
P3O® is a registered trade
mark of AXELOS Limited
8
P3m3 maturity assessment
• During Full Self Assessment, three inter-related steps are taken up- as
noted below:
a) Defined Approach: This will cover assessing the existing standards, documentation and systems
that comprise Client’s organization’s framework, as they are supposed to be used (for project,
programme and portfolio)
b) Desk study: Assessment of how well the selected initiatives have used the framework in practice
and complied with organizational requirements and industry best practices
c) Interviews: Interviews with the selected set of stakeholders, which corroborate the Defined
Approach/ Desk study, on the extent of imbibement of good practices relating to P3M maturity.
(contd…) 99
Maturity assessment process
• Separate Maturity levels will be assessed for each of the three
models (project/ program and portfolio)
• The P3M3 Full Assessment will cover the threads of Assurance,
Behaviours, Commercial Management, Infrastructure and Tools,
Model integration, Organization, Planning, Processes, Standards
and Techniques, for project, program and portfolio models, as per
P3M3 framework.
• AXELOS proprietary Assessment tool will be used by the Assessor
to ascertain the current maturity levels
• Only Management deliverables/ processes (for project/ program
and portfolio ) will be considered for assessment.
(contd…) 10
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Maturity Assessment process – contd…
• The overall Assessment plan will include the timelines for Desk study and
interviews.
Desk study will include both centrally developed materials, such as
standards and templates (for example the business case template), as well
as examples of locally applied materials (for example an actual business
case from a live project).
• The desk study may identify additional people to interview or additional
documentation to review.
• The Assessor will use the available data to finalise the maturity levels for
various models/ perspectives. The overall organizational maturity would be
noted as the minimum of the maturity levels of the seven perspectives –
which are given equal importance.
(contd…) 11
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Specimen High level report – P3M3 - Assessment - Project Level*
(* Similar reports will be produced for programme and portfolio models)
Sl Perspective Maturity level Target Maturity level High level maturity
No Fully met partially met or not implementation tasks – to
(and rationale) met move up to Target maturity
(and rationale) level
1 Organizational
Governance
3 Management
Control
2 Benefits
Management
4 Financial
Management
5 Risk management
6 Stakeholder
engagement
7 Resource
management 12
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Specimen maturity assessment
illustration for a model (say, project management)
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Gap analysis – overview
Multiple reports will be produced as Deliverables, incl.
a) Assessment of current maturity levels for project, programme and portfolio
management
b) Rationale for current level of P3M maturity across multiple perspectives
c) GAP analysis from ‘As-is’ to ‘To-be’ target maturity levels across various perspectives
for project/ programme and portfolio levels (with pictorial depictions as in a
Spider diagram – as illustrated below)
Org Gov
Targetted
maturity
level
Resource Mgt Mgt ctrl
'As-is' maturity
level
Fin. Mgt Benfts Mgt
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Stkhldr Mgt Risk Mgt
Typical KPIs to measure the success of the P3O implementation
• # of programmes and projects delivered to plan
• # of programmes and projects rejected, deferred, re-scoped or
cancelled by stage
• Variance between forecasted and actual benefits realised
• Effectiveness of risk response plans
• Audits of levels of compliance to processes
• Staff development and turnover in programmes and projects
• Stakeholder satisfaction surveys
• P3M3 assessments
• Post-programme and project reviews/ health checks
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P3O capabilities – which can be enabled
• Selection of the right programme/ projects for the organisation
• Optimisation of organisational investments
• Allocation of right resource skill sets for programmes and the projects
• Ensuring ongoing alignment of change initiatives with the strategic
objectives for the organisation
• Identification of critical interdependencies and risks
• Identification of potential duplication of scope
• Coordinated management of change control processes across projects
and programmes
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Key functions and services provided by an EPMO(*)
Strategic planning or Delivery support Centre of Excellence (COE)
portfolio support
Strategy support Flexible resource pool Standards
Prioritization Capacity planning Training and coaching
Benefits Resource management Assurance
Management dashboards HR management Good practice
Governance support Contract management – Knowledge management
external resources
Oversight, scrutiny and Facilitate programme or Tools
challenge project start-up
Consultancy
(*) – based on P3O - P3O® is a registered trade mark of AXELOS Limited
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An EPMO model – based on P3O framework
Strategy or Corporate Services
Business Change or Divisional
Director Director
Strategic Delivery Portfolio Office
Portfolio Office
Strategy support Delivery functions Centre Of Excellence
Prioritization Flexible Resource Pool functions
Benefits Capacity Planning Standards
Management Dashboards Resource Management Training and Coaching
Governance support HR Management Assurance
Oversight, scrutiny and Contract Management – Good Practice
challenge external resources Knowledge Management
Facilitate programme or Tools
project start-up Consultancy
Project Office Project Office
(temporary – (temporary –
set up to set up to
support a specific support a specific
initiative) initiative)
Note: The exact configuration of the EPMO provided will depend on the nature of Client’s business and
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their business needs..
EPMO integration with wider organization
Note: These interfacing will depend on the depend on the nature of Client’s business and their business needs.. 19
EPMO Functions and services – based on P3O framework
Note: The exact configuration of the EPMO provided will depend on the nature of Client’s business and
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their business needs..
Demonstrating the value – P3O Business case
• The business case represents the justification for the
programme and should be continuously reviewed throughout
the programme. Business case covers setup and ongoing costs.
• The business case can contain the following data:
– Background/ reasons for introducing the P3O
– Objectives to be achieved at the portfolio/ programme and project
levels
– Typical costs and expected benefits
– Major risks
– Investment appraisal for multiple options considered
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Three Functional Areas of a P3O
Strategic planning or Delivery support Centre of Excellence (COE)
portfolio support
Strategy support Flexible resource pool Standards
Prioritization Capacity planning Training and coaching
Benefits Resource management Assurance
Management dashboards HR management Good practice
Governance support Contract management – Knowledge management
external resources
Oversight, scrutiny and Facilitate programme or Tools
challenge project start-up
Consultancy
P3O® is a registered trademark of AXELOS Limited
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Improvement areas considered for P3M3 maturity
enhancement
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Specimen – Improvement areas considered for EPMO implementation
▪ P3M capabilities
EPMO/ P3M
Org structure ▪ P3M Skill-sets development
▪ ‘Culture’/ Change mgt
Processes
▪ Portfolio prioritization
aligned to Corp strategy
▪ Program and Project mgt
Technology and processes
Infrastructure ▪ Alignment to global
▪ PMIS tools (P6/ Unifer) frameworks
▪ Colloborative and
workflow tools
▪ New Management dashboards
▪ Resource optimization
Infn systems
& and KM ▪ Drill-down analysis for decision making
▪ Knowledge Management and Information
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systems management
Implementation of Maturity Improvement Plan
• The work herein will include:
– Developing/ amending detailed process manuals
– Reconfiguring the existing PPMS tool to support higher levels of
maturity
– Redesigning information flows/ MIS Dashboards
– Embedding changes of organizational culture to support higher levels
of maturity
– Capability upskilling training etc. for maturity improvement.
More importantly, quantifying the benefits to showcase the value of
maturity assessment and improvement.
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