P3O stands for „Project, Programme and Portfolio Office“. It is a model for the creation and operation of project, program and portfolio offices.
In both cases, these are best-practices products. P3O simply focuses on various models of creating and developing a support office (Office) for Projects, Programs and Portfolio = P3O. P3O is also associated with internationally recognized certification at the level of P3O Foundation and P3O Practitioner.
P3M3 is not primarily intended for training, but it is an audit model for determining maturity according to best practices in the field of Projects, Programs and Portfolios = P3M3. A company that is "scanned" according to this model will gain an independent and structured view of weaknesses or strengths in project, program or portfolio management and can then determine priorities for further development.
Yes. The P3O model provides many variants designed for small, medium and large companies / corporations. In small organizations, it is typically a so-called virtual office, which is performed for a limited time by an individual or a small group. The range of support functions and services is also limited according to possibilities and priorities.
No. The P3O model provides many options and forms of supportive P3O office. This applies to the functions or areas it covers to support projects, programs and portfolios. However, the P3O office may also be associated with the responsibility for the operation and development of support information systems. For example, for knowledge management, central risk or open point databases, document management, dashboards, central planning tools, etc.
There is no condition for the P3O Foundation and no other certificate is required. But the big advantage is the knowledge of some of the methodologies for project, program and portfolio management as well as practical experience. In the case of best-practices methodologies, ideally PRINCE2, MSP, MoP. P3O Foundation certification is a prerequisite for P3O Practitioner.
No. Use of P3O is not associated with any licensing fees. It is up to the organisation to invest in accredited training and international certification exams or in external consulting services for the implementation and development of the P3O office.
The P3O Foundation certificate has no expiration date and the P3O Practitioner is valid for 5 years. The validity can be extended by the so-called recertification test.
P3O® is a flexible methodology for managing Project, Program, Portfolio. And therefore it is compatible with PMI, for example. This is not about the methodology of project management, but about the management of the portfolio of projects, programs and the project office as a whole. It does not interfere with specific projects, so in fact the concept of the methodology of management of specific projects can be any.thing
These best-practice guidelines mention the possibility that projects or programs are for example, methodically or administratively supported by a so-called project or program office, but do not address what these offices look like and what functions they provide. And this, in turn, is addressed in P3O.
According to the best-practices of the P3O model, a "project office" is a temporary support role associated with the life cycle of one particular project - i.e. its existence ends with the project.
This "office" can be perceived as a unit for e.g. methodological and administrative support, coaching, or know-how. The program office which is intended for temporary support of one program can be perceived in a similar way. Permanent is the so-called portfolio office which permanently supports activities within portfolio management.
No. The portfolio, project and program office can take many forms according to the P3O model. For smaller companies, the so-called "virtual office" model is typical using existing capacities.
No. P3O complements the best-practices of the methodology and helps, advises, reduces administration and provides other functions (e.g. knowledge base) for projects, programs and portfolios. The project sponsor (according to PRINCE2), the Senior Responsible Owner program (according to MSP) and the entire portfolio top management as Portfolio Direction Group (according to MoP) remain responsible for the project.
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