P3M3 Maturity Assessment
Maturity modelling is a key part of establishing continual improvement for organisations and managing performance. This is undertaken by our Assess team who also undertake maturity assessments, health checks and governance reviews. The current P3M3®maturity model was released in 2008 by the Office of Government Commerce. The APM Group accredits a limited number of organisations to use the model on behalf of the Cabinet Office (formerly the OGC). Aspire Europe work closely with our partners at Outperform in developing innovative tools and techniques for measuring maturity. We are the largest supplier of maturity assessments in the world, between us we have assessed well over 100 organisations and have a database of around 250 results that enables us to provide comparisons and analysis to other organisations and sectors. P3M3® is currently undergoing a refresh with a new version due to be released in early 2014. Aspire Europe and Outperform have been contracted to refresh the framework and the supporting toolkit on behalf of the Cabinet Office Improving programme and project management, and adopting MSP® and PRINCE2® will take time. The organisation will want to plan how it evolves and should set itself improvement targets. It will take more than writing processes to improve, it must improve the competence of the organisation. The P3M3® model identifies 5 levels of maturity that an organisation passes through as it seeks to achieve and then exceed best practice. It addresses the maturity of an organisation in it's ability to manage Portfolios, Programmes and Projects better. For each of the models, P3M3® assesses an organisations performance against 7 perspectives: Organisational Governance Management Control Benefits Management Risk Management Finance Management Stakeholder Management Resource Management The general benefits that can be gained from using P3M3 include: Helps organisations decide what maturity level they need to achieve to meet their business needs Creates a reliable P3M (Portfolio, Programme, and Project Management) capability baseline against which improvements in P3M capability performance can be objectively measured Focuses investment on those aspects of P3M that will yield the best improvements for the specific organisational context Recognises achievements from previous investment in capability improvement Compares the organisation against accepted maturity levels that can be certified Enables comparison of capabilities between organisations Quality is assured through the use of accredited consulting organisations Provides plans for continual progression Focuses on the organisation's maturity - not specific initiatives (you can run good programmes and projects without having high levels of maturity - but just not consistently) Provides an objective assessment of strengths and weaknesses Justifies investment in portfolio, programme, and project management infrastructure Provides accreditation of an organisation's maturity Demonstrates service quality to support proposals to prospective clients Reduces costs and increases benefits delivery in P3M If you think we can help, contact us at enquiries@aspireeurope.com