PMOs and P3O® – The benefits for you and your organisation
PMOs can be structured in various ways from a person performing multiple functions, to a single centralised support office, through to a set of distributed offices offering decision-enabling and support services. The Portfolio, Programme and Project Offices (P3O) guide from AXELOS brings present guidance on real life experience for establishing and enhancing these different support structures.
These support structures may range from traditional Centre of Excellence functions (such as standards, templates, and training) to strategic portfolio support to project and programme delivery support.
In current project management landscape, P3Os must not only survive but excel by adding tangible value to an organisation. To succeed this will require:
- Senior management commitment
- Investment to design and grow the appropriate structure
- Investment in the people to ensure ongoing success
“Getting value out of a P3O will not happen overnight; it takes time,
effort, investment and commitment from all stakeholders”.
Why should you invest in a P3O? To understand this further it is important to highlight the real benefits of applying P3O and how it can be advantageous to you and your organisation. Consider the following:
Benefits for individuals
- It provides an internationally recognised guidance – not country or sector specific in which to work under. P3O framework applies globally whether you are working for a private or public sector organisation
- P3O Foundation and Practitioner accreditations are internationally recognised – achievement of the accreditation is recognition that an individual has attained a level of knowledge in accordance with certification standards
- The terminology in P3O is consistent with AXELOS’s other portfolio, programme and project management guides (including MoP®, MSP® and PRINCE2®)
- Promotes consistency of delivery for projects and programmes
- It focuses on a learning environment – developing capability and skills according to organisational needs and culture
- Treats the implementation or re-energization of a P3O as a project or programme – incorporating the idea of senior management commitment via application of a business case for the P3O
- Ensure that the strategies and performance requirements of your organisation are realised via projects, programmes and operational business units
- Seeks to improve organisational accountability, decision making, transparency and visibility
Benefits for organisations
A P3O can increase an organisation’s chance of successfully delivering on its strategic objectives by maximizing benefits realised from projects and programmes by:
- Ensuring that the ‘right things’ are being done and that the ‘right things’ are achievable – this means ensuring programmes and projects are aligned to strategic objectives and are adequately resourced as well as managing portfolio level progress, dependencies and conflicts.
- Ensuring the right decision is taken by the right person or group, based on the right level of supporting information
- Providing a ‘helicopter view’ of all programmes and projects being undertaken
- Providing standards, processes, and guidance to ensure consistency of project and programme delivery
- Providing health checks, independent oversight and challenge to ensure delivery occurs right the first time
- Addressing areas such as knowledge management, coaching, mentoring and training to build a competent project/programme management capability
- Focusing on protecting revenue and expenditure to enhance value for money for investment in business change
- Providing insight to cross-organisational risks and issues and identifying key priorities
- Encouraging integration (P3O is not a standalone office or function) with governance arrangements, the wider business and other corporate functions.
For more information on how PM-Partners can assist your business in up-skilling your staff around their current level of project management knowledge, speak to one of our qualified customer service team today on 1300 70 13 14.
P3O ® is a registered trade mark of AXELOS Limited; MSP® is a registered trade mark of AXELOS Limited; PRINCE2® is a registered trade mark of AXELOS Limited