P3M3 ® (The Portfolio, Programme, and Project Management Maturity Model) is a methodology owned and published by the UK Cabinet Office (ex OGC). It is a framework for the evaluation of the maturity and performance of assets of an organization and includes three models allowing independent rating:
- Portfolio Management (PfM3) - for the evaluation of project portfolio management
- Programme Management (PgM3) - for the evaluation of program management
- Project Management (PjM3) - for the evaluation of project management
Source: http://www.p3m3-officialsite.com
P3M3 methodology in practice: The aim of P3M3 is to help organizations to assess their maturity and performance and to implement improvement plans. P3M3 is an extended version of the methodology of the Project Management Maturity Model which was based on the evaluation of maturity Capability Maturity Model (CMM). Like the CMM, in P3M3 maturity is evaluated using five levels.
- Level 1 - awareness of process
- Level 2 - repeatable process
- Level 3 - defined process
- Level 4 - managed process
- Level 5 - optimized process
Related terms and methods:
- CMM (Capability Maturity Model)
- Management Maturity
- MoP ® (Management of Portfolios)
- M_o_R ® (Management of Risk)
- MoV ® (Management of Value)
- MSP ® (Managing Successful Programmes)
- PRINCE2 (PRojects IN Controlled Environment)
- Program (in Project Management)
- Project
- Project Portfolio Management
- P3O ® (Portfolio, Programme and Project Offices)
Related management field:
Note: P3M3® is a registered trademark of the Cabinet Office.
