P3M3 Certification: Portfolio, Program and Project Management Maturity Model

Introduction

Organizations continually strive to identify and leverage competitive and performance advantages from improved efficiency and delivery, due to the increase in the rate of change in today’s business environment. With that, best practices continue to evolve as the understanding of what makes organizations perform well increases. In many industries, like the IT sector, for instance, management models have grown in importance to become the basis of assessing organizational capability and identifying opportunities for progress. The Portfolio, Programme, and Project Management Maturity Model (P3M3®) is a maturity model that measures an organization’s capability with regards to its portfolio, program and project management practices. This measurement is expressed as a ‘maturity level’ that indicates an organization’s current capability in these practices.

An organization’s maturity is a measure of its ability to implement continuous improvement, and a maturity model, like P3M3®, is a management tool that can be used to diagnose root causes, assess current capability, and demonstrate improvement. It also acts as a roadmap to achieving performance targets. The P3M3® model has become a major standard amongst maturity models and provides a framework within which organizations can assess their current performance and plan for improvement when managing and delivering change. P3M3® offers three maturity models that can be used individually to focus on particular areas of the business or more generally to help companies evaluate the relationship between their portfolios, programs, and projects. How can P3M3® be used in your organization? P3M3® supports organizational appraisals at project, program, or portfolio levels. This may be across all components of the model or only selected parts of the model.

The former gives a high-level picture of the organization’s abilities and performance, whereas focusing on any one of the individual perspectives of P3M3® is relevant to tracking improvements in specific areas such as benefits management. This training course will give those who will be commissioning or using a maturity model such as the P3M3®, an understanding of how to employ the model to improve organizational project and program capability.

Objectives

Upon completing this P3M3 Certification: Portfolio, Programme, and Project Management Maturity Model course successfully, participants will be able to:

• Know the benefits of using a maturity model
• Understand the background and purpose of maturity modeling
• Scope of an assessment
• Introduce process improvement using models like P3M3®
• Be able to explain the five levels of maturity
• Comprehend how the results of the maturity model correlate to the 5-step process improvement framework
• Measure performance objectively
• Helping organizations to decide what maturity level they need to achieve to meet their business needs
• Creating a reliable P3M3® capability baseline
• Compare the organization against accepted maturity levels that can be certified
• Strengthen processes in benefits management to gain better returns on investment
• Focus investment on those aspects of P3M3® that will yield the best improvements for the specific organizational context
• Recognize achievements from previous investment in capability improvement
• Enjoy the benefits of better predictability of outcome for better investment decisions
• Use diagnostic assessment to improve value in the training budget
• Employ effective use of budgets delivers cost savings
• Develop a baseline for the capability to provide concrete metrics for performance improvement
• Improve the delivery of benefits
• Ensure decreased cost of quality
• Enhance the quality of delivered projects and programs
• Understand how to increase productivity using best practices
• Gain superior quality results (i.e. lower defects)
• Increase customer satisfaction by employing efficient tools and techniques
• Get enhanced schedule and budget predictability
• Work with better cycle time management
• Enjoy an increased return on investment due to advancements in your career
• Improve self-morale and motivation

Training Methodology

This is an interactive P3M3 Certification (Portfolio, Programme and Project Management Maturity Model) training program and will consist of the following training approaches:

• Lectures
• Seminars & Presentations
• Group Discussions
• Assignments
• Case Studies & Functional Exercises

Just like all our courses, this program also follows the ‘Do-Review-Learn-Apply’ model.

Who Should Attend?

This P3M3 Certification: Portfolio, Programme, and Project Management Maturity Model course is suitable for:

• Anyone wishing to know more about maturity models and how to use them;
• Anyone taking the first steps towards becoming a maturity assessor; and
• Organizations considering undertaking maturity assessments of capability

Course Outline

Module 1: Introduction

• What Are Maturity Models?
• P3M3® components
• Benefits of using P3M3®
• Using Maturity Models for Performance Improvement
• Where are you today?
• Where do you want to be?
• How can you get there?
• How will you know when you are there?

Module 2: Self-Assessment

• P3M3® Self-assessment User Guide
• P3M3® standard self-assessment
• P3M3® enhanced self-assessment
• Full assessment: assessor’s toolkit and guide

Module 2: Background To P3M3®

• Version 1
• Version 2
• Version 3
• Challenges in Version 3
• Assessment toolkit
• Using P3M3® for benchmarking
• Using P3M3® for skills development
• Using P3M3® for benefits management

Module 3: P3M3® Overview

• The overarching structure of P3M3®
• P3M3® and delivery success
• PMI’s Project Management Body of Knowledge (PMBOK)
• APM’s Body of Knowledge (APMBOK)
• AXELOS’s best-practice product set
• UK National Audit Office’s financial maturity model
• UK Cabinet Office’s Procurement Capability Review
• Asset Management – An Anatomy

Module 4: The Business Case for Improving Maturity and Performance

• CMMI-based improvements
• Identifying your potential savings

Module 5: Planning your P3M3® Assessment

• Selecting the P3M3® model to use
• Scoping the assessment
• P3M3® data structure
• Selecting the approach
• Planning checklist
• Understanding the results
• Improvement planning

Module 6: Adapting P3M3®

• Commissioner of projects
• Deliverer of projects
• Commissioner–the deliverer of projects
• Specific sector competencies
• Supply chain management

Module 7: P3M3® Maturity Levels

• Level 1 – Awareness of the process
• Level 2 – Repeatable process
• Level 3 – A defined process
• Level 4 – The managed process
• Level 5 – Optimised process

Module 8: P3M3® Perspectives

• Organizational governance
• Management control
• Benefits management
• Risk management
• Stakeholder management
• Finance management
• Resource management

Module 9: P3M3® Maturity Levels for each Perspective

• Portfolio management
• Program management
• Project management
  • Organizational governance
  • Management control
  • Benefits management
  • Risk management
  • Stakeholder management
  • Finance management
  • Resource management

Module 10: Framework for Improvement

• Scoping, planning, and delivering an assessment
• Developing improvement plans
• Case study