P3M3 FAQ

P3M3 stands for The Portfolio, Program, and Project Management Maturity Model. It is a framework for detailed analysis and evaluation of the efficiency and maturity of processes (the so-called maturity model) of project, program and portfolio management.

P3M3 analyzes projects, programs and the portfolio as a whole organization. It examines how effectively a company manages its projects, programs and portfolio. The P3M3 framework is unique in that it evaluates the entire system, not just processes. The P3M3 assessment can be adapted to the specific needs of the organization.

This Assessment is the most advanced analytical tool that helps identify weaknesses and suggests best practice improvements. The manager will be able to better define and implement any plan for improvement, change, or transformation.

P3M3 uses three models to assess an organization's ability and performance:

• Project Management Assessment (PjM3)
• Program Management Assessment (PgM3)
• Portfolio Management / Strategy Assessment (PfM3)

The P3M3 model is designed for any organization. It does not matter the size, the field of activity and this model is intended for both private companies and the state sector or public administration.

Typically, top management organizations and portfolio managers, program and project offices in an effort to determine the status and subsequently improve it.

However, P3M3 is also interesting for internal auditors, process managers and procurement as a tool for internal / external audit. P3M3 is also interesting in the case of mergers or acquisitions, where it will help quickly detect the status / effectiveness of portfolio management, programs and projects.

The output is a final report whose level of detail depends on the agreed scope and depth of the audit. The report can be read whether and to what extent there are areas that should be covered according to best-practices in portfolio, program and project management.

For example, the degree of maturity in the organization's risk management in projects. The final report may also include recommendations on which areas to address as a matter of priority and in what ways.

Yes, the audited organization can also obtain the prestigious international P3M3 certification confirming the level of maturity in the field of project, program and portfolio management.

This certificate is based on the findings obtained by the accredited partner during the in-depth audit (ACP). Thus, these are not individual PRINCE2 Foundation certifications, but a certificate issued by the organization.

Accredited Consultant Partner (ACP) is an accredited organization that is authorized to perform P3M3 audits and accompanying services (eg consultations). In addition to an accredited organization as an entity, ACP must have at least one accredited consultant certified as a P3M3 Assessor.

TAYLLORCOX is the only ACP in the Czech Republic and the Slovak Republic and is one of 17 organizations in Europe (as of January 2019). The list of accredited P3M3 partners is published by AXELOS on the website.

No. The P3M3 model is based on best practices. It does not require any specific methodology or standard for auditing the status of portfolios, program or project management.

The P3M3 model finds out to what extent key areas are provided in a given organization, which good methodologies should cover. On the other hand, PRINCE2, MoP and MSP are the best combination for P3M3.

P3M3 is currently the only internationally recognized model that comprehensively allows the audit of the status of all "3P" portfolios, program and project management.

In addition, an audited customer can obtain international P3M3 certification. confirming the level of maturity in the field of project, program and portfolio management.

No. P3M3 is not about managing projects, programs or portfolios. P3M3 is an audit model that allows you to systematically and structured determine the state of the organization in these areas of management.