P3M3^® Model

The P3M3^® model, or the Portfolio, Programme, and Project Management Maturity Model, is an assessment tool that enables organisations to assess and benchmark their project, programme, and portfolio management capabilities. By identifying areas of strength and improvement, the model offers a structured pathway for enhancing organisational maturity in these domains. Benefits of employing P3M3^® include more consistent project outcomes, better resource allocation, improved stakeholder engagement, and a higher return on investment.

The P3M3^® model is structured around three primary models, each representing a different management focus:

1. Project Management (PjM3)
2. Programme Management (PgM3)
3. Portfolio Management (PfM3)

Each of these models has several perspectives that help to assess different dimensions of the management approach:

1. Organizational Governance
2. Management Control
3. Benefits Management
4. Risk Management
5. Stakeholder Management
6. Finance Management
7. Resource Management

Further analysis of the organisation at each of the 13 Thread levels provide incredibly rich and detailed examination of the organisation.

Only accredited P3M3^® Assessors and AXELOS Consulting Partners (ACP) have access to the P3M3^® tool.

The Process

The process of carrying out a P3M3^® assessment is comprehensive and focusing on gathering as much evidence as possible to enable the P3M3^® assessor to complete the scoring using the online tool. The assessment can be completed in person and on-site, or it can be completed entirely remotely and virtually.

A typical process includes:

• Confirming the scope of the assessment and forming the assessment team
• An initial planning meeting to answer questions and decided on the best way to gather the required evidence (i.e. access to existing processes, tools, and artifacts), and determining the list of people to be interviewed.
• Team kick-off meeting to explain to everyone the purpose and method of the P3M3^® assessment, and answer any questions.
  
• Data and evidence review where we review your processes, practices, tools, techniques, and evidence of them being used.
  
• Interviews and workshops
  
• P3M3^® scoring using the online AXELOS tool.
  
• Report writing which includes all scores; benchmarking against peers; and prioritised recommendations.
  
• Presentation of results and recommendations

The entire process can take between 4 – 8 weeks, depending on the size and complexity of the organisation. At all times we work with you and your team to ensure that we are able to get all the evidence we need without getting in the way of normal business requirements. The exact costs of the assessment can vary according the size, complexity, and current maturity level of the organisation. We work with you to ensure that our fee proposal is complete and we work on a no surprises basis.

The Outcomes

The assessment and the report provide a lot of valuable information, all targeted at delivering immediate and tangible value to your organisation.

A full P3M3^® assessment using all 3 Models, 7 Perspectives and 13 Threads will generate 50-60 different scores between zero and five for the organisation allowing a close and detailed examination of all aspects of portfolio, programme, and project management.

We like to remind clients at this stage that while the scores are interesting, the assessment is actually about improvement and that is where our detailed and prioritised recommendations come in. In addition to the scores, your assessment report will include specific recommendations to help your organisation be more successful at all aspects of portfolio, programme, and project delivery. We have case studies of clients experiencing an uplift in project success rates from 60% to 85% within the first 12 months of implementing the recommendations.

We work with you to make sure the recommendations are appropriate, achievable, and deliver value. We will make time to present the results to all relevant parts of the organisation. We are available at all times to work alongside you to implement the improvement recommendations.