Doing more with less. Free tools for P3M3 maturity improvements

CEOs and Senior Leaders are facing an increasingly challenging task to deliver transformational change objectives with less budget and fewer resources; having to balance maintaining and improving quality, keeping tight financial control, delivering on the quality and productivity challenge, and creating energy and momentum for transition and reform.

“The disciplines of portfolio, programme and project management support the delivery of effective transformational change, in a cost efficient and controlled manner”.

A portfolio, programme and project management (P3M) Maturity Model is a reference guide for improving performance in portfolio, programme and project management. It categorises portfolio, programme and project management best practices into key areas to enable organisations to assess their current level of capability within each area. A P3M Maturity Model will typically have 5 levels of maturity against which practices can be assessed.

The P3M3 maturity model sub-models are:

• Portfolio Management (PfM3)
• Programme Management (PgM3)
• Project Management (PjM3).

Each sub-model is further broken down into seven perspectives:

1. Organizational governance
2. Management control
3. Benefits management
4. Risk management
5. Stakeholder management
6. Finance management
7. Resource management

P3M3 allows an assessment of the process employed, the competencies of people, the tools deployed and the management information used to manage and deliver improvements. This allows organizations to determine their strengths and weaknesses in delivering change. To help our customers, we at Dada Enterprises have devised different options for the P3M3 assessment:

1. A stand-alone self-assessment
2. A facilitated self-assessment
3. Full diagnostic or certified assessment

To take advantage of our free P3M3 assessment, visit our download centre to obtain your free ‘no-strings attached’ self-assessment questionnaire and contact us today to learn how you can customise it to your own industry and processes.

Below is an extract of our self-assessment maturity questionnaire where we allow our clients to score themselves against the 5 maturity levels for each of the sub-models.

At Dada Enterprises a P3M3 assessment is important to us, not just as an auditing tool, but to drive performance. At Dada we use it to ensure that the implemented system has the right

1. People;
2. Skills;
3. Processes; and
4. Tools.

At Dada we use P3M3 to develop Project Controls tool sets which allow the team to manage performance, produce the Application for Payment and monitor the Fee Schedule

The analysis and systems solutions are then captured in a blueprint that ensures that the right organisation roles, systems and support networks are in place.

 

The benefits to our customers from P3M3 system design are:

• Accounting and financial management
• Equipment, machinery and subcontractor management
• Sales and profit maximisation
• On time supply and stock control
• Time and attendance management
• Integration with quoting and project management software
• Industry specific reports and analysis

Remember to visit our download centre to obtain free tools to manage your projects on a no-fee basis for unfamiliar Project Leaders to explore these concepts.