What is P3M3?
P3M3 is a Maturity Assessment is a tool for helping to determine how good your organisation is at Portfolio, Programme and Project Management.
P3M3 stands for Portfolio, Programme and Project Management Maturity Model.
P3M3 has been around since 2005 and is owned by Axelos, a joint venture between the UK Government and Capita which took ownership of the materials in Jan 2014. Prior to this, P3M3 was owned by the Office of Government Commerce (OGC),
P3M3 provides a structured best practice framework within which organizations can assess their current performance and plan for improvement when managing and delivering change. P3M3 breaks down the broad disciplines of portfolio, programme and project management into a hierarchy of Key Process Areas (KPAs). P3M3 can be used separately to focus on specific areas of the business or more generally to help organizations assess the relationship between their portfolios, programmes and projects.
The P3M3 maturity sub-models are:
- Portfolio Management (PfM3)
- Programme Management (PgM3)
- Project Management (PjM3).