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Portfolio, Programme and Project Management Maturity Model (P3M3®)

Version 2.1

P3M3® – Portfolio Model

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 P3M3® – Portfolio Model

3. Portfolio Management Maturity Model

This model was created from information gathered as Characteristics of portfolio management
part of the Cabinet Office and OGC research into the Good portfolio management will be expected to have
concept of portfolio management. the following characteristics.
Focus will be on leadership and alignment with
Definition of portfolio management
organizational strategy
The OGC definition of a portfolio is the totality
of an organization’s investment (or a segment Visions and blueprints will cover the entire,
thereof) in the changes required to achieve its defined organization
strategic objectives.
Timescales for the portfolio may be vague, flexible
Portfolio management describes the management and long term
of an organization’s portfolio of business change
Risk will be viewed from a strategic perspective and
initiatives. It is a coordinated collection of strategic
in a business continuity context
processes and decisions that together enable the
most effective balance of organizational change and Integrity of the entire business transformation is
business as usual. P3M3 views portfolio management managed through programmes and projects and
as an important and active discipline, critical to business as usual
the success of achieving effective change in
Benefits orientation will be towards the
an organization.
organizational benefits that affect all areas and
Effective portfolio management leads to processes are linked to strategic organizational goals
and behaviours that enable successful delivery across
Stakeholder engagement will have a strategic and
an organization’s entire change investment, and it
external focus
ensures that:
Governance requires the setting of policies
change initiatives address and achieve strategic
and standards
objectives
Quality will be viewed from the perspective of
maximum business value is realized and at an
portfolio alignment and effectiveness
early stage
Planning will be viewed in the context of outcome
risks are managed
dependency and conflict resolution
the total change investment is coherent, prioritized
A combination of programmes and projects and
and scrutinized
other business change activity is likely.
the broad allocation of skilled change resources
The management of internal elements of programmes
is optimized
or projects is not considered part of portfolio
new initiatives can be evaluated against strategic management.
objectives, business value and current commitments
Attributes of portfolio management
demands from change initiatives on the operational
The following sections set out the attributes for
business can be managed and coordinated at an
each of the seven Process Perspectives within the
organizational level.
Portfolio Management Maturity Model, at each of
Organizations may choose to subdivide their portfolio the five Maturity Levels, along with a description
or manage only a portion of it. This is often done of each attribute.
in relation to a financial portfolio, a buildings and
accommodation portfolio or an IT-enabled business
change portfolio, for example.

P3M3® is a Registered Trade Mark of the Office of Government Commerce

The OGC logo® is a Registered Trade Mark of the Office of Government Commerce in the United Kingdom

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PfM3 - Management Control – Level 1 Generic Attributes

Description 1. Localized information structures, with some
The organization recognizes the portfolio but has information sharing between teams
little or nothing in terms of documented processes or
2. Focus on documentation during start-up and
standards for managing the portfolio.
definition, but not maintained over initiative’s
life cycle
Specific Attributes
1. Portfolio concept may be recognized at 3. Limited localized information controls, with no
departmental or divisional level but probably formal release management arrangements
not at organizational level, and likely to be little
4. Local reviews, with some corrective actions
supporting definition/documentation
undertaken within the group
2. May be some management attention to
5. Generic training may be provided in key
portfolio, but no recognizable process for
concepts, and there may be individuals
defining and translating the organization’s
undertaking qualification training
strategic objectives and policies into
defined initiatives 6. Local sharing of knowledge may exist but
mostly ad hoc
3. Portfolio management terminology may be used
but not consistently 7. Key individuals may have practical delivery
experience and track record
Generic Attributes
8. Roles, responsibilities and competencies defined
1. Training provision is uncoordinated, with little or
in some areas but not consistently across
no knowledge sharing
the organization
2. Key individuals lack experience
9. Plans exist but are not underpinned by consistent
3. No standard roles, and responsibilities are not development methodology, yet may still be
defined or are generic effective locally
4. Some information available but is outdated, 10. Planning seen as activity tracking rather than
unstructured and dispersed proactive/forecasting
5. Limited, if any, formal checking or review 11. Estimation is more “guesstimation” and does
not use standard techniques
6. Plans, if any, are conceptual or merely sequences
of events with rough timescales
PfM3 - Management Control – Level 3
7. Planning, if any, likely to be an initial activity with
Description
little maintenance of ownership or tracking
Portfolio management processes are centrally defined,
documented and understood, as are roles and
PfM3 - Management Control – Level 2 responsibilities for delivery.
Description
There are pockets of portfolio discipline within Specific Attributes
individual departments, but this is based on key 1. Portfolio management recognized as being
individuals rather than as part of a comprehensive and Executive Board’s responsibility and a structure is
consistent organization-wide approach. in place to ensure delivery of portfolio
2. Centrally defined, owned and managed process
Specific Attributes
for translating policy and strategic priorities into
1. Willingness for the organization to implement
portfolio initiatives, with redundant initiatives
new processes to support and enable portfolio
eliminated
management but not implemented consistently
3. Portfolio management processes have specified
2. Some recognition that departmental or divisional
owners and there is evidence of an effective
portfolios must fit within the priorities and
Organization Portfolio Office
processes of an organizational portfolio
4. Overarching plan linking organizational strategic
3. Common vocabulary for portfolio management
plan to portfolio initiative plans
beginning to evolve
5. Portfolio has set policies, standards and methods
4. May be specific guidelines on portfolio
on how initiatives will be delivered consistently
management in parts of the organization
and optimally

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6. Organization Portfolio Office reports to Executive 3. High-level reports on key aspects of portfolio
Board made available to Executive Board to support
informed decision-making
7. Documentation explaining context, purpose and
expectations of portfolio 4. Process in place for evaluating and handling
major changes within portfolio
8. Portfolio has a defined perimeter, enabling
demarcation and understanding of what it 5. Continual assessment of organization’s
contains capacity to manage initiatives, and of
appropriate prioritization
Generic Attributes
6. High levels of operational engagement with
1. Information has a refresh cycle or is regularly
decision-making and direction of portfolio
accessed
7. Decision-making based on maintaining
2. Organization-wide information standards on
alignment and balance within portfolio,
confidentiality, availability and integrity
and its optimal configuration, to achieve
3. Formal information release management strategic objectives
procedures
8. Initiative management process capability
4. Independent reviews take place determined and used to establish suitable
performance goals, which are then monitored
5. Scrutiny largely for compliance reasons,
identifying failures rather than opportunities 9. Trend reporting on progress, actual and
for improvement projected cost, level of risk, and initiative and
stakeholder confidence, are routinely collected,
6. Plans developed to a central and consistent
reviewed by Executive Board and used for
standard that is output- or goal-based
decision-making
7. Plan development takes into account a range
10. Quantitative and qualitative measures and
of relevant factors
lessons identified are routinely used to improve
8. Evidence of effective estimating techniques effectiveness of portfolio management
9. Dependencies are identified, tracked and
Generic Attributes
managed effectively
1. Information is current and extensively referenced
10. Training is focused on the organization’s for better decision-making
approaches and raising competence of
2. Trend analysis and measurement undertaken
individuals in specific roles
on performance information to identify
11. Forums exist for sharing organizational improvement opportunities
experience to improve individual and
3. Knowledge management is a central function
organizational performance
and is used to help improve performance
12. Centrally managed role definitions and and planning
sets of competencies defined and used
4. Reviews focus on opportunities to improve as
to support appointments
well as compliance
5. Plans kept up to date, with the application
PfM3 - Management Control – Level 4
of sophisticated planning techniques and
Description
recognition of interdependencies
Portfolio management processes exist and are proven.
Portfolio management has established metrics against 6. Extensive training is provided, focusing
which the strategic success of the organization can be on personal development and performance
measured. improvement
7. Evidence of interventions to avoid conflicts and
Specific Attributes
take advantage of opportunities
1. Robust organizational framework for categorizing
initiatives, measuring and monitoring 8. Mentoring and individual development is used to
organizational performance, and measuring improve organizational performance
contribution from portfolio
9. Succession plans exist for key roles
2. Executive Board responsible for ensuring delivery
of portfolio

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PfM3 - Management Control – Level 5 PfM3 - Benefits Management – Level 1

Description Description
Portfolio management has well-defined controls There is some recognition that initiatives may exist
and behaviours that enable it to deliver the strategic within the organizational and divisional portfolio
objectives of the organization through a variety of to enable the achievement of benefits for the
processes and tools. There is evidence of continual organization. However, there is no defined benefits
improvement. realization process.

Specific Attributes Specific Attributes

1. Portfolio management processes proven 1. Initiatives may identify some business benefit
and optimized generally
2. Management control and reporting mechanisms 2. Any benefits identified tend to be subjective
are proactive and focus on Key Performance rather than objective
Indicators aligned to the organization’s
3. May be some statements on the purpose of
strategic objectives
some initiatives but not providing a clear view of
3. Portfolio management can demonstrate that what success will look like
its role in scrutinizing initiatives has resulted
in some being stopped or reshaped to gain Generic Attributes
better alignment with other initiatives and to 1. Training provision is uncoordinated, with little or
optimize delivery no knowledge sharing
4. Evidence that lessons learned through portfolio 2. Key individuals lack experience
management are disseminated widely
3. No standard roles, and responsibilities are not
5. Management controls evaluated to ensure they defined or are generic
remain aligned to business needs
4. Some information available but is outdated,
6. Business opportunities identified and potential unstructured and dispersed
benefit of new technology to deliver successful
5. Limited, if any, formal checking or review
outcomes, and its impact, is determined
6. Plans, if any, are conceptual or merely sequences
Generic Attributes of events with rough timescales
1. Information is valued, with continual
7. Planning, if any, likely to be an initial activity with
maintenance and reference
little maintenance of ownership or tracking
2. Evidence of extensive intelligence-gathering
processes, with information disseminated
PfM3 - Benefits Management – Level 2
through a variety of channels
Description
3. Review and improvement is continual and The development of the investment cycle will increase
proactive, with lessons being shared openly the awareness of the importance of identifying
benefits and subsequently tracking whether they have
4. Planning inherent in decision-making process,
been realized. However, the realization of benefits is
with adjustments and implications managed
still likely to be patchy, inconsistent and unmonitored.
and deployed
5. Active management of interdependencies Specified Attributes
between initiative plans and other business plans 1. Evidence of individuals or local functions using
a process for defining business benefits, but
6. Estimations are accurate and used effectively to
little formal benefits tracking, management or
ensure delivery
ownership
7. High levels of competence embedded in all roles
2. Some initiatives will be expected to identify
and seen as part of career paths
benefits and how to achieve them, but this is
8. Knowledge transfer is an inherent behaviour deployed inconsistently
within the organization
3. Likely to be overlap and double counting of
9. Skills embedded into organizational leadership benefits between initiatives, with a poorly
and management development programmes defined process to identify these

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4. Some alignment of identified benefits to the 5. Benefits are owned and the performance
organizational objectives, but likely to be management process ensures their realization;
unquantified and patchy ownership may be cascaded but with a clear trail
of accountability for benefits realization
Generic Attributes
6. Strategic benefits fully documented with
1. Localized information structures, with some
clear links between initiatives and business
information sharing between teams
change activities
2. Focus on documentation during start-up and
7. Changes to individual initiatives are assessed for
definition, but not maintained over initiative’s
impact on benefits realization
life cycle
8. Defined process for identifying and realizing
3. Limited localized information controls, with no
opportunities
formal release management arrangements
9. Process in place for validating the realization of
4. Local reviews, with some corrective actions
benefits and refining targets
undertaken within the group
10. Benefits realization objectives linked to
5. Generic training may be provided in key
operational business plans
concepts, and there may be individuals
undertaking qualification training
Generic Attributes
6. Local sharing of knowledge may exist but 1. Information has a refresh cycle or is regularly
mostly ad hoc accessed
7. Key individuals may have practical delivery 2. Organization-wide information standards on
experience and track record confidentiality, availability and integrity
8. Roles, responsibilities and competencies 3. Formal information release management
defined in some areas but not consistently procedures
across the organization
4. Independent reviews take place
9. Plans exist but are not underpinned by consistent
5. Scrutiny largely for compliance reasons,
development methodology, yet may still be
identifying failures rather than opportunities
effective locally
for improvement
10. Planning seen as activity tracking rather than
6. Plans developed to a central and consistent
proactive/forecasting
standard that is output- or goal-based
11. Estimation is more “guesstimation” and does
7. Plan development takes into account a range of
not use standard techniques
relevant factors
8. Evidence of effective estimating techniques
PfM3 - Benefits Management – Level 3
Description 9. Dependencies are identified, tracked and
There is a centrally managed framework used for managed effectively
defining and tracking the realization of portfolio-level
10. Training is focused on the organization’s
benefits across the business operations.
approaches and raising competence of
individuals in specific roles
Specific Attributes
1. Explicit statements on how benefits enabled by 11. Forums exist for sharing organizational
initiatives actually contribute to business value experience to improve individual and
and strategic objectives organizational performance
2. Clear organizational policies relating to benefits 12. Centrally managed role definitions and sets
management deployed through initiatives (e.g. of competencies defined and used to support
programme benefits management strategies) appointments
3. Business or service areas actively engaged in
defining and realizing benefits
4. May be an organizational design authority with
responsibility for benefits across portfolio

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PfM3 - Benefits Management – Level 4 7. Evidence of interventions to avoid conflicts and

Description take advantage of opportunities
The benefits realization and management process is
8. Mentoring and individual development is used to
well established, measurable and is integrated into
improve organizational performance
how the organization manages itself.
9. Succession plans exist for key roles
Specific Attributes
1. Benefits realization and management process
PfM3 - Benefits Management – Level 5
well established across all initiatives, with outputs
Description
and benefits actively measured, managed and
Benefits realization is integral to the development of
owned, and an identified link between outcomes
business strategy decision-making. There is evidence
and the organizational performance framework
of continual improvement.
2. Clear accountability for benefits realization is
defined within portfolio roles Specific Attributes
1. Benefits realization and management process
3. There is a portfolio of strategic benefits that the
exists and is embedded across the organization,
portfolio manages through prioritization
with benefits realization explicitly aligned
of initiatives
to organizational performance framework
4. Dependencies between benefits identified and outcomes
and managed
2. Measurement of benefits realized informs
5. Business areas performance-managed to the organization’s strategic objectives and
deliver benefits priorities, enabling adjustments to strategy
where necessary
6. Performance metrics tracked across the business
to measure improvements against baselines 3. Benefits realization and management process is
and targets continually improved based on lessons learned
and process metrics
7. Lessons from benefits realization performance
embedded into expectations from initiatives 4. Externally imposed organizational delivery
targets integrated into benefits realization and
8. Benefits realization integrated into organizational
management process
performance management framework
9. Benefits measurement tracks positive and Generic Attributes
negative effects on the business against a range 1. Information is valued, with continual
of operational measures maintenance and reference
2. Evidence of extensive intelligence-gathering
Generic Attributes
processes, with information disseminated
1. Information is current and extensively referenced
through a variety of channels
for better decision-making
3. Review and improvement is continual and
2. Trend analysis and measurement undertaken
proactive, with lessons being shared openly
on performance information to identify
improvement opportunities 4. Planning inherent in decision-making process,
with adjustments and implications managed
3. Knowledge management is a central function
and deployed
and is used to help improve performance
and planning 5. Active management of interdependencies
between initiative plans and other business plans
4. Reviews focus on opportunities to improve as
well as compliance 6. Estimations are accurate and used effectively to
ensure delivery
5. Plans kept up to date, with the application
of sophisticated planning techniques and 7. High levels of competence embedded in all roles
recognition of interdependencies and seen as part of career paths
6. Extensive training is provided, focusing on 8. Knowledge transfer is an inherent behaviour
personal development and performance within the organization
improvement
9. Skills embedded into organizational leadership
and management development programmes

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PfM3 - Financial Management – Level 1 evidence of initiatives being stopped due to

Description poor performance
Portfolio oversight of the financial aspects of
6. Application of business case guidance varies
initiatives may be recognized but there is little or no
and is limited, and business case writing skills
organizational investment control.
are rudimentary
Specific Attributes 7. Focus on cost tracking rather than financial
1. Investment requests often included within management
general budget rounds and not appraised
8. Business case production, procurement appraisal
as investment opportunities against defined
and investment control are restricted by the
selection criteria
extent of individual competencies
2. Funding approval for initiatives devolved to
budget centres, with little or no accountability Generic Attributes
outside of budget holder 1. Localized information structures, with some
information sharing between teams
3. Some local financial control processes but
often failing to understand projected financial 2. Focus on documentation during start-up and
outcomes and resolve troubled initiatives definition, but not maintained over initiative’s
life cycle
Generic Attributes
3. Limited localized information controls, with no
1. Training provision is uncoordinated, with little
formal release management arrangements
or no knowledge sharing
4. Local reviews, with some corrective actions
2. Key individuals lack experience
undertaken within the group
3. No standard roles, and responsibilities are not
5. Generic training may be provided in key
defined or are generic
concepts, and there may be individuals
4. Some information available but is outdated, undertaking qualification training
unstructured and dispersed
6. Local sharing of knowledge may exist but
5. Limited, if any, formal checking or review mostly ad hoc
6. Plans, if any, are conceptual or merely sequences 7. Key individuals may have practical delivery
of events with rough timescales experience and track record
7. Planning, if any, likely to be an initial activity with 8. Roles, responsibilities and competencies
little maintenance of ownership or tracking defined in some areas but not consistently
across the organization
PfM3 - Financial Management – Level 2 9. Plans exist but are not underpinned by consistent
Description development methodology, yet may still be
There are business cases being produced and some, effective locally
usually departmental, structures to oversee investment
10. Planning seen as activity tracking rather than
decisions. However, business cases are often appraised
proactive/forecasting
independently of each other and real organizational
priorities have not been established. 11. Estimation is more “guesstimation” and does
not use standard techniques
Specific Attributes
1. Some business cases for some initiatives tested
PfM3 - Financial Management – Level 3
against emerging organizational priorities and
Description
for organizational capacity and appetite for risk
There are established standards for the investment
2. Business cases for some initiatives based on management process and the preparation of business
simple cost-benefit analysis cases. Portfolio investment costs are monitored and
controlled.
3. May be some evidence of options appraisal
4. Provision of funding is local, and not through a Specific Attributes
consistent and centrally managed process 1. Clear, documented and published investment life
cycle addressing new ideas, feasibility studies,
5. Individual departments establishing structures to
trials, development and review
oversee and coordinate their initiatives, but little

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2. Investment management process and practice 12. Centrally managed role definitions and
in place across organizational portfolio, within sets of competencies defined and used to
which departmental or specialist portfolios fit support appointments
3. Common investment management process and
practice within portfolio for initiative approval, PfM3 - Financial Management – Level 4
monitoring and delegation Description
The organization has effective and robust financial
4. Business and portfolio planning cycles work
control of its investment decisions and the approval
concurrently
and monitoring of initiatives. There is proactive,
5. Costs, expenditure and forecasts monitored at evidence-based management of the portfolio
portfolio level in accordance with organizational investment funds and costs.
guidelines and procedures
Specific Attributes
6. Defined interfaces with other financial functions
1. Funding for next stage of delivery released only if
within the organization
initiative meets agreed performance criteria
7. Criteria within portfolio for organizational
2. Formal review process ensuring that each
investment decision-making are clear
initiative’s actual financial performance and
and communicated
benefits are in line with expectations, with
8. Portfolio management process includes effective corrective actions taken when required
planning of funding availability
3. Executive Board reassures itself that there is
9. Financial data in management reports integrated financial control across portfolio
with schedule data and including trends
4. Investment management process fully integrated
10. Financial modelling of value for money, using with performance management framework
agreed and explicit techniques
5. Investment decisions ensure that initiatives are
not started unless their contribution to the
Generic Attributes
organizational objectives and priorities is explicit
1. Information has a refresh cycle or is regularly
and aligned
accessed
6. External financial risks monitored and evaluated
2. Organization-wide information standards on
as part of investment management processes
confidentiality, availability and integrity
7. Analysis prior to investment decisions made
3. Formal information release management
through senior management-owned Investment
procedures
Board or other delegated expert body
4. Independent reviews take place
8. Accurate financial management information
5. Scrutiny largely for compliance reasons, on initiative costs and benefits is available,
identifying failures rather than opportunities to facilitate proactive management of the
for improvement organization’s total investment
6. Plans developed to a central and consistent 9. Full integration between organizational and
standard that is output- or goal-based portfolio financial planning cycles
7. Plan development takes into account a range 10. Financial oversight of portfolio is organization-
of relevant factors centric rather than programme- or
project-centric
8. Evidence of effective estimating techniques
9. Dependencies are identified, tracked and Generic Attributes
managed effectively 1. Information is current and extensively referenced
for better decision-making
10. Training is focused on the organization’s
approaches and raising competence of 2. Trend analysis and measurement undertaken
individuals in specific roles on performance information to identify
improvement opportunities
11. Forums exist for sharing organizational
experience to improve individual and 3. Knowledge management is a central function
organizational performance and is used to help improve performance
and planning

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4. Reviews focus on opportunities to improve 5. Active management of interdependencies

as well as compliance between initiative plans and other business plans
5. Plans kept up to date, with the application 6. Estimations are accurate and used effectively to
of sophisticated planning techniques and ensure delivery
recognition of interdependencies
7. High levels of competence embedded in all roles
6. Extensive training is provided, focusing on and seen as part of career paths
personal development and performance
8. Knowledge transfer is an inherent behaviour
improvement
within the organization
7. Evidence of interventions to avoid conflicts
9. Skills embedded into organizational leadership
and take advantage of opportunities
and management development programmes
8. Mentoring and individual development is used
to improve organizational performance
PfM3 - Stakeholder Engagement – Level 1
9. Succession plans exist for key roles Description
Stakeholder engagement and communication is
rarely used by portfolios as an element of the
PfM3 - Financial Management – Level 5
delivery toolkit.
Description
Financial control of the portfolio is an integral part of
Specific Attributes
the organization’s financial control regime. There is
1. Concept of stakeholder engagement may be
evidence of continual improvement.
acknowledged but is undefined
Specific Attributes 2. Portfolio communicates with stakeholders on ad
1. Executive Board manages investments by hoc basis, relying on individuals within the team
funding only those initiatives with valid business taking the initiative
cases and which continue to pass formal reviews
3. No structured approach to stakeholder
2. Investment decisions consider the organization’s management and communications
entire portfolio of initiatives and collective
benefits and priorities Generic Attributes
1. Training provision is uncoordinated, with little or
3. There is a portfolio of initiatives that balances
no knowledge-sharing
financial risk
2. Key individuals lack experience
4. Portfolio financial decision-making is based on
actual and forecast data from its initiatives 3. No standard roles, and responsibilities are not
defined or are generic
5. The organization is able to flex its appetite for
financial risk to better align portfolio to meet 4. Some information available but is outdated,
organizational objectives unstructured and dispersed
6. Appropriate financial control embedded within 5. Limited, if any, formal checking or review
initiatives and integrated with organizational
6. Plans, if any, are conceptual or merely sequences
financial control
of events with rough timescales
Generic Attributes 7. Planning, if any, likely to be an initial activity with
1. Information is valued, with continual little maintenance of ownership or tracking
maintenance and reference
2. Evidence of extensive intelligence-gathering PfM3 - Stakeholder Engagement – Level 2
processes, with information disseminated Description
through a variety of channels Portfolios will be communicated to stakeholders,
but this is linked more to the personal initiative of
3. Review and improvement is continual and
portfolio managers than to a structured approach
proactive, with lessons being shared openly
deployed by the organization.
4. Planning inherent in decision-making process,
with adjustments and implications managed
and deployed

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Specific Attributes PfM3 - Stakeholder Engagement – Level 3

1. Evidence may exist of more sophisticated Description
analysis and communications planning for There is a centrally managed and consistent approach
some portfolios to stakeholder engagement and communications used
on the portfolio(s).
2. Most stakeholder analysis is basic and
inconsistent, limited to the issue of what
Specific Attributes
stakeholders are interested in
1. Centrally defined and consistent approach,
3. Portfolios recognize stakeholder groupings but and supporting process, for identifying and
are limited to local knowledge analyzing stakeholders
4. Some portfolios have their own communications 2. Portfolios consider stakeholder needs
plans but they focus on merely transmitting and stakeholders are actively involved in
information decision-making
5. Outgoing communications channels from 3. Corporate communications (or equivalent)
portfolios are limited, with focus on email are involved in development of stakeholder
or websites engagement processes and procedures
6. Some stakeholders advised or consulted, and 4. Stakeholders have authority and clearly defined
feedback processed roles within portfolios
7. Structured approach beginning to evolve, 5. Audit trails of communications maintained for
but based on good practice of one or two all portfolios
key individuals
6. Communications channels vary and are used
to target and deliver messages effectively
Generic Attributes
1. Localized information structures, with some 7. Communications budget exists
information sharing between teams
8. Much of this approach is provided by the
2. Focus on documentation during start-up and Organization Portfolio Office
definition, but not maintained over initiative’s
life cycle Generic Attributes
1. Information has a refresh cycle or is regularly
3. Limited localized information controls, with
accessed
no formal release management arrangements
2. Organization-wide information standards
4. Local reviews, with some corrective actions
on confidentiality, availability and integrity
undertaken within the group
3. Formal information release management
5. Generic training may be provided in key
procedures
concepts, and there may be individuals
undertaking qualification training 4. Independent reviews take place
6. Local sharing of knowledge may exist but 5. Scrutiny largely for compliance reasons,
mostly ad hoc identifying failures rather than opportunities
for improvement
7. Key individuals may have practical delivery
experience and track record 6. Plans developed to a central and consistent
standard that is output- or goal-based
8. Roles, responsibilities and competencies
defined in some areas but not consistently 7. Plan development takes into account a range
across the organization of relevant factors
9. Plans exist but are not underpinned by consistent 8. Evidence of effective estimating techniques
development methodology, yet may still be
9. Dependencies are identified, tracked and
effective locally
managed effectively
10. Planning seen as activity tracking rather than
10. Training is focused on the organization’s
proactive/forecasting
approaches and raising competence of
11. Estimation is more “guesstimation” and does individuals in specific roles
not use standard techniques

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11. Forums exist for sharing organizational 5. Plans kept up to date, with the application
experience to improve individual and of sophisticated planning techniques and
organizational performance recognition of interdependencies
12. Centrally managed role definitions and 6. Extensive training is provided, focusing
sets of competencies defined and used on personal development and performance
to support appointments improvement
7. Evidence of interventions to avoid conflicts
PfM3 - Stakeholder Engagement – Level 4 and take advantage of opportunities
Description
8. Mentoring and individual development is used
Sophisticated techniques are used to analyze and
to improve organizational performance
engage the portfolio stakeholder environment
effectively, and quantitative information is used to 9. Succession plans exist for key roles
underpin the assessment of effectiveness.
PfM3 - Stakeholder Engagement – Level 5
Specific Attributes
Description
1. Sophisticated approach to analyzing,
Communications are being optimized from extensive
segmenting and maintaining stakeholder
knowledge of the stakeholder environment, to enable
perspective information
the portfolio(s) to achieve their objectives. There is
2. Extensive range of communications channels and evidence of continual improvement.
techniques used to deliver messages
Specific Attributes
3. Effectiveness of communications and stakeholder
1. Stakeholder engagement embedded in the
engagement is measured, and is high
organization’s culture
4. Critical stakeholders embedded in decision-
2. Communications active, bi-directional and
making process
embedded in decision-making process
5. Stakeholder reactions analyzed, and evidence
3. Stakeholders fully engaged in change process at
of proactive communications management to
all levels
influence stakeholder attitudes and levels of
support 4. Communications recognized by Executive Board
as a key leadership tool
6. Programme leaders engaged with and
supporting communications activities 5. Communications measured, relevant and trusted
7. Stakeholder identification and analysis covers
Generic Attributes
internal and external groups, with information
1. Information is valued, with continual
maintained centrally
maintenance and reference
8. Portfolios with high levels of market or
2. Evidence of extensive intelligence-gathering
community consultation are commonly
processes, with information disseminated
at this level
through a variety of channels
Generic Attributes 3. Review and improvement is continual and
1. Information is current and extensively referenced proactive, with lessons being shared openly
for better decision-making
4. Planning inherent in decision-making process,
2. Trend analysis and measurement undertaken with adjustments and implications managed
on performance information to identify and deployed
improvement opportunities
5. Active management of interdependencies
3. Knowledge management is a central function between initiative plans and other business plans
and is used to help improve performance
6. Estimations are accurate and used effectively to
and planning
ensure delivery
4. Reviews focus on opportunities to improve as
7. High levels of competence embedded in all roles
well as compliance
and seen as part of career paths
8. Knowledge transfer is an inherent behaviour
within the organization

12 Portfolio, Programme and Project Management Maturity Model (P3M3®)

 P3M3® – Portfolio Model

9. Skills embedded into organizational leadership Specific Attributes

and management development programmes 1. Some initiatives manage risks, but risk decision-
making may not consider wider outcome,
focusing on threats to initiative rather than
PfM3 - Risk Management – Level 1
to portfolio as a whole and the realization of
Description
strategic objectives
There is a growing recognition that risks need to be
managed and that, at least for key business initiatives 2. Some initiatives analyze risk in terms of
(e.g. cost saving or major site developments), they can probability, impact (on schedule, cost and quality
threaten success. of deliverables) and timing
There may be evidence of risks being documented but 3. Some proactive management of risk, with
little evidence of active management. mitigation plans in place, but such plans are rare
and probably unfunded
Specific Attributes
4. Focus on risk tracking rather than risk
1. Risk analysis may be conducted early in
management
initiatives but is not maintained as a continual
management process 5. No escalation procedures for risk mitigation to
pass to more senior management
2. May be an inventory of organizational risks,
but they may not be assessed for impact on 6. May be some effective ownership of risks and
schedule, cost and quality risk actions
3. Decision-making on risks tends to be initiative- 7. Top-down (sometimes “knee-jerk”) approach
focused, considering impact on an individual to risk identification unconnected with bottom-
initiative’s outputs rather than the wider impact up approach within initiatives, often causing
duplication of effort, competing teams, non-
4. May be some identification of risk (probably
optimal resource allocation, and consequently
in different systems, such as spreadsheets,
ineffective management of organizational risk
text documents, databases, etc.) and some
quantification, but little actual management
Generic Attributes
1. Localized information structures, with some
Generic Attributes
information sharing between teams
1. Training provision is uncoordinated, with little or
no knowledge sharing 2. Focus on documentation during start-up and
definition, but not maintained over initiative’s
2. Key individuals lack experience
life cycle
3. No standard roles, and responsibilities are not
3. Limited localized information controls, with
defined or are generic
no formal release management arrangements
4. Some information available but is outdated,
4. Local reviews, with some corrective actions
unstructured and dispersed
undertaken within the group
5. Limited, if any, formal checking or review
5. Generic training may be provided in key
6. Plans, if any, are conceptual or merely sequences concepts, and there may be individuals
of events with rough timescales undertaking qualification training
7. Planning, if any, likely to be an initial activity with 6. Local sharing of knowledge may exist but
little maintenance of ownership or tracking mostly ad hoc
7. Key individuals may have practical delivery
PfM3 - Risk Management – Level 2 experience and track record
Description
8. Roles, responsibilities and competencies
There is generally a top-down approach to risk
defined in some areas but not consistently
identification, focusing on major organizational
across the organization
initiatives, but some initiatives are increasingly
carrying out bottom-up risk identification. However, 9. Plans exist but are not underpinned by consistent
these approaches are inconsistent, not particularly development methodology, yet may still be
interrelated and often do not address the actual effective locally
management of risks.

Portfolio, Programme and Project Management Maturity Model (P3M3®) 13

 P3M3® – Portfolio Model

10. Planning seen as activity tracking rather than 5. Scrutiny largely for compliance reasons,
proactive/forecasting identifying failures rather than opportunities
for improvement
11. Estimation is more “guesstimation” and does
not use standard techniques 6. Plans developed to a central and consistent
standard that is output- or goal-based
PfM3 - Risk Management – Level 3 7. Plan development takes into account a range
Description of relevant factors
Portfolio risks are identified and quantified, and
8. Evidence of effective estimating techniques
response plans are developed and funded. Risk
management across the portfolio(s) is based on a 9. Dependencies are identified, tracked and
common, centrally managed process. managed effectively
10. Training is focused on the organization’s
Specific Attributes
approaches and raising competence of
1. Portfolio management has defined a risk
individuals in specific roles
management process and a risk
management policy 11. Forums exist for sharing organizational
experience to improve individual and
2. All initiatives comply with portfolio risk
organizational performance
management process and risk
management policy 12. Centrally managed role definitions and
sets of competencies defined and used
3. Portfolio processes aggregate risks and external
to support appointments
factors are identified and managed centrally (e.g.
delivery chain and likely demands/impacts on
operational business) PfM3 - Risk Management – Level 4
Description
4. Portfolio risk management integrated with
The organization’s appetite for risk, and the balance
organizational risk management approach
of threats and opportunities across the portfolio,
5. Efforts to manage risks are appropriate to their are continually reviewed and managed. Senior
significance and priority management owns and oversees risk management
across the portfolio.
6. There is a risk manager or individual with
responsibility and time for the management of
Specific Attributes
risks within portfolio
1. Portfolio risk management embedded within
7. Risks are owned and actively managed by organizational reporting, governance and
nominated individuals management structures
8. Robust risk management includes: identification 2. Portfolio risks periodically re-assessed by
of strategic, delivery (programme/project) and Executive Board to ascertain threats to, and
operational threats/opportunities; consistent opportunities for, achieving organizational
analysis of risk in terms of probability, impact (on objectives
schedule, cost and quality of deliverables) and
3. Focus of risk management is on aggregation and
proximity (timing); response plan production and
balance of risk across portfolio’s initiatives
funding; and continual review by knowledgeable
experts, risk owners and senior managers 4. Executive Board oversees major threats and
opportunities, and their response management,
Generic Attributes and takes accountability for the management
1. Information has a refresh cycle or is regularly of risk
accessed
5. Portfolio management identifies common
2. Organization-wide information standards on risks across whole portfolio (which may not be
confidentiality, availability and integrity visible to individual initiatives) and balances the
organization’s overall exposure to risk
3. Formal information release management
procedures 6. Decision-making based on outputs of techniques
for assessing risks, including risk modelling and
4. Independent reviews take place
simulations

14 Portfolio, Programme and Project Management Maturity Model (P3M3®)

 P3M3® – Portfolio Model

7. Risk analysis conducted from a number of 4. Adequate resources and funding provided for
perspectives, including strategic, operational, risk management improvement activities
commercial and internal to the initiative
5. Risk management illustrates a proven and
8. Appropriate reference to risk specialists and balanced approach to opportunities and threats
others where appropriate (e.g. business across portfolio
continuity, security, incident management,
6. Risk management underpins decision-making
health and safety, environment, procurement)
process throughout portfolio
9. Clear accountability and ownership of risks and
evidence of appropriate actions being taken Generic Attributes
1. Information is valued, with continual
Generic Attributes maintenance and reference
1. Information is current and extensively referenced
2. Evidence of extensive intelligence-gathering
for better decision-making
processes, with information disseminated
2. Trend analysis and measurement undertaken through a variety of channels
on performance information to identify
3. Review and improvement is continual and
improvement opportunities
proactive, with lessons being shared openly
3. Knowledge management is a central function
4. Planning inherent in decision-making process,
and is used to help improve performance
with adjustments and implications managed
and planning
and deployed
4. Reviews focus on opportunities to improve as
5. Active management of interdependencies
well as compliance
between initiative plans and other business plans
5. Plans kept up to date, with the application
6. Estimations are accurate and used effectively to
of sophisticated planning techniques and
ensure delivery
recognition of interdependencies
7. High levels of competence embedded in all roles
6. Extensive training is provided, focusing on
and seen as part of career paths
personal development and performance
improvement 8. Knowledge transfer is an inherent behaviour
within the organization
7. Evidence of interventions to avoid conflicts and
take advantage of opportunities 9. Skills embedded into organizational leadership
and management development programmes
8. Mentoring and individual development is used to
improve organizational performance
PfM3 - Organizational Governance – Level 1
9. Succession plans exist for key roles
Description
The organization has some inconsistent and
PfM3 - Risk Management – Level 5 informal attempts to align individual initiatives to
Description organizational objectives, and there is an ad hoc,
Risk management is embedded in the culture of the inconsistent and ineffective oversight of initiatives.
organization and underpins all decision-making within
the portfolio(s). Specific Attributes
1. May be a recognition that initiatives fit within an
There is evidence of continual improvement.
organizational portfolio, but at best this link will
be notional
Specific Attributes
1. Effective organizational risk management 2. Initiatives may have been defined but there is
framework with which portfolio interacts only notional alignment with organizational
effectively objectives and priorities
2. Formal portfolio gate reviews used to proactively
Generic Attributes
assess and manage investment risk and make
1. Training provision is uncoordinated, with little or
decisions based on their impact on portfolio
no knowledge sharing
3. Organizational risk management process
2. Key individuals lack experience
and outcomes continually reviewed to
ensure effectiveness of the process and the 3. No standard roles, and responsibilities are not
organizational risk management framework defined or are generic

Portfolio, Programme and Project Management Maturity Model (P3M3®) 15

 P3M3® – Portfolio Model

4. Some information available but is outdated, 8. Roles, responsibilities and competencies

unstructured and dispersed defined in some areas but not consistently
across the organization
5. Limited, if any, formal checking or review
9. Plans exist but are not underpinned by consistent
6. Plans, if any, are conceptual or merely sequences
development methodology, yet may still be
of events with rough timescales
effective locally
7. Planning, if any, likely to be an initial activity with
10. Planning seen as activity tracking rather than
little maintenance of ownership or tracking
proactive/forecasting
11. Estimation is more “guesstimation” and does
PfM3 - Organizational Governance – Level 2
not use standard techniques
Description
There are some attempts to recognize the portfolio of
initiatives, but there is still little overall leadership and PfM3 - Organizational Governance – Level 3
direction for the process. Description
Centrally defined organizational controls are applied
Initiatives may be initiated and run without full regard
consistently to the portfolio(s), with decision-making
to the organizational goals, priorities and targets.
structures in place and linked to organizational
governance.
Specific Attributes
1. May be local governance developed for specialist
Specific Attributes
or departmental portfolios but inconsistent
1. The organization has established documented
across the organization
policies, standards, processes and governance
2. Some key organizational priorities established for change investments, and has developed an
but wider strategic objectives and priorities for Executive Board-owned structure to oversee
portfolio are unclear and not communicated portfolio performance
3. Initiatives focused on achieving tactical or 2. Clear, defined vision for organizational change,
localized objectives rather than strategic with senior management demonstrating
objectives commitment to it
4. Some areas undertaking process improvement 3. Portfolio is well defined and aligned with
strategic objectives and priorities
5. Difficult to establish rationale on which initiatives
are funded or approved 4. Clear governance structure ensuring that all
initiatives are evaluated, prioritized and approved
Generic Attributes based on strategic objectives, and business cases
1. Localized information structures, with some are continually reviewed for validity and viability
information sharing between teams
5. Organization Portfolio Office monitors
2. Focus on documentation during start-up and effectiveness of governance and stakeholder
definition, but not maintained over initiative’s engagement for all initiatives
life cycle
6. Legislative and regulatory requirements
3. Limited localized information controls, with no incorporated into portfolio management decision
formal release management arrangements and controls processes
4. Local reviews, with some corrective actions 7. Governance controls integrated into portfolio
undertaken within the group controls
5. Generic training may be provided in key 8. Business performance information acquired and
concepts, and there may be individuals reviewed by Organization Portfolio Office
undertaking qualification training
9. Process ownership is clear and related decision-
6. Local sharing of knowledge may exist but making responsibilities are clearly defined
mostly ad hoc
Generic Attributes
7. Key individuals may have practical delivery
1. Information has a refresh cycle or is regularly
experience and track record
accessed

16 Portfolio, Programme and Project Management Maturity Model (P3M3®)

 P3M3® – Portfolio Model

2. Organization-wide information standards on 5. All initiatives analyzed to identify common

confidentiality, availability and integrity causes of failure, high risk, high cost, etc., so
that lessons identified can be applied to refining
3. Formal information release management
processes, improving performance and saving
procedures
cost and time
4. Independent reviews take place
6. Portfolio governance decision-making process is
5. Scrutiny largely for compliance reasons, auditable and clear
identifying failures rather than opportunities
7. Active searching for improvement in how
for improvement
portfolio integrates with organizational
6. Plans developed to a central and consistent governance
standard that is output- or goal-based
8. Clear auditable relationship between strategic
7. Plan development takes into account a range of objectives and portfolio activities
relevant factors
9. Organizational and portfolio leadership
8. Evidence of effective estimating techniques are aligned
9. Dependencies are identified, tracked and 10. Analysis and modelling of impact of change
managed effectively on sustainability of business performance
during transition
10. Training is focused on the organization’s
approaches and raising competence of 11. Business processes modelled and actively
individuals in specific roles managed using a structured approach
11. Forums exist for sharing organizational 12. Executive Board accountable for decisions to
experience to improve individual and “stop or go” with change transitions
organizational performance
13. Senior management ascertain the extent of
12. Centrally managed role definitions and sets improvement to assets
of competencies defined and used to support
appointments Generic Attributes
1. Information is current and extensively referenced
for better decision-making
PfM3 - Organizational Governance – Level 4
Description 2. Trend analysis and measurement undertaken
All initiatives are integrated into an achievable and on performance information to identify
governed portfolio, which is aligned to strategic improvement opportunities
objectives and priorities. The portfolio contains
3. Knowledge management is a central function
relevant information on initiatives (e.g. performance
and is used to help improve performance
measures, quality attributes and asset management
and planning
data) to support Executive Board decisions.
4. Reviews focus on opportunities to improve as
Specific Attributes well as compliance
1. Executive Board shows longevity of commitment
5. Plans kept up to date, with the application
to value of portfolio management and views
of sophisticated planning techniques and
portfolio as strategic vehicle for change
recognition of interdependencies
2. Portfolio formally reviewed periodically (at least
6. Extensive training is provided, focusing on
annually) to test for continued relevance of
personal development and performance
portfolio as a whole and initiatives within it
improvement
3. Executive Board intervenes to ensure that
7. Evidence of interventions to avoid conflicts and
portfolio remains aligned to organization’s
take advantage of opportunities
objectives
8. Mentoring and individual development is used to
4. Within portfolio governance arrangements
improve organizational performance
each initiative is tested and prioritized for
achievability, impact on strategic objectives 9. Succession plans exist for key roles
and relative benefits

Portfolio, Programme and Project Management Maturity Model (P3M3®) 17

 P3M3® – Portfolio Model

PfM3 - Organizational Governance – Level 5 7. High levels of competence embedded in all roles
Description and seen as part of career paths
The portfolio is managed to ensure that it remains
8. Knowledge transfer is an inherent behaviour
aligned to support the organization’s strategic
within the organization
objectives. The portfolio management process is
optimized to ensure that it is sufficiently dynamic 9. Skills embedded into organizational leadership
and agile to cater for changes in business direction and management development programmes
and priorities.
There is evidence of continual improvement. PfM3 - Resource Management – Level 1
Description
Specific Attributes Portfolio resource requirements are recognized but
1. Governance of investment management has not systematically managed. Resource allocation is ad
moved from a programme/project-centric hoc, with little, if any, profiling of resources to meet
process to organization-centric the resource requirements of specific initiatives.
2. Portfolio realigned to meet changing
Specific Attributes
circumstances, priorities, drivers and funding,
1. Individual initiatives identify and source their
with resources re-allocated accordingly
own resources, creating a high risk of the
3. The organization has effective and robust organization over-committing key resources
governance for managing change
2. Little or no coordination of resources across
4. Prioritization within portfolio based on priority of different initiatives, and limited alignment to
strategic objectives organizational objectives and priorities, leading
to resource conflicts
5. Executive Board has clear accountability for
stability of the organization and actively 3. Resource acquisition is ad hoc and
manages portfolio to ensure sustainability and uncoordinated
realization of strategic objectives
Generic Attributes
6. Organization proactively enables, supports and
1. Training provision is uncoordinated, with little
achieves business process improvement
or no knowledge sharing
7. Quantitatively measurable goals for process
2. Key individuals lack experience
improvement, with performance against
them tracked 3. No standard roles, and responsibilities are not
defined or are generic
8. Business performance management is
effective and seamlessly incorporates process 4. Some information available but is outdated,
improvements and benefits enabled by initiatives unstructured and dispersed
5. Limited, if any, formal checking or review
Generic Attributes
1. Information is valued, with continual 6. Plans, if any, are conceptual or merely sequences
maintenance and reference of events with rough timescales
2. Evidence of extensive intelligence-gathering 7. Planning, if any, likely to be an initial activity with
processes, with information disseminated little maintenance of ownership or tracking
through a variety of channels
3. Review and improvement is continual and PfM3 - Resource Management – Level 2
proactive, with lessons being shared openly Description
The organization has started to develop portfolio
4. Planning inherent in decision-making process,
resource management processes and improve the
with adjustments and implications managed
identification and allocation of resources to specific
and deployed
initiatives. However, this is likely to be reliant on key
5. Active management of interdependencies individuals and does not assess the impact of resource
between initiative plans and other business plans allocation against the strategic objectives
and priorities.
6. Estimations are accurate and used effectively to
ensure delivery

18 Portfolio, Programme and Project Management Maturity Model (P3M3®)

 P3M3® – Portfolio Model

Specific Attributes PfM3 - Resource Management – Level 3

1. Resources deployed within specialist Description
or departmental portfolios, with limited The portfolio resource management process is
consideration of the wider organizational centrally defined within the organization. Initiative
portfolio resource needs are evaluated, enabling the
organization to target and increase the development
2. Some specialist or departmental portfolios
of resources to meet strategic objectives and priorities.
have defined methods of resource acquisition
but these are likely to differ and be applied
Specific Attributes
inconsistently
1. Policies, processes and tools in place describing
3. Limited assessment of impact on other initiatives how portfolio resources are acquired, managed,
or operational areas when allocating resources deployed and accounted for, and enabling
their acquisition
4. Pockets of good resource management
processes but likely to be limited to specific 2. The organization identifies and builds the
initiatives or departments required capability of its resources and the
realistic capacity needed to support its initiatives
5. Problems of not managing resources across
portfolio are beginning to be understood and 3. The organization has a portfolio resource pool
solutions starting to be developed in isolated used by initiatives to identify staff (including from
initiatives or departments the operational business) with the appropriate
skill sets
Generic Attributes
4. Portfolio resource management process builds
1. Localized information structures, with some
on that within initiatives by ensuring that
information sharing between teams
resource allocation takes cognizance of strategic
2. Focus on documentation during start-up and objectives and priorities
definition, but not maintained over initiative’s
5. Organization Portfolio Office tracks portfolio
life cycle
resource utilization
3. Limited localized information controls, with no
6. Mechanisms in place for acquisition of
formal release management arrangements
portfolio resources and exploitation of supply
4. Local reviews, with some corrective actions chain opportunities
undertaken within the group
7. Consistent approach to procurement
5. Generic training may be provided in key of resources within portfolio
concepts, and there may be individuals
8. Supply chain recognized as part of resource pool
undertaking qualification training
9. Career path for portfolio staff defined, clear
6. Local sharing of knowledge may exist but
and implemented
mostly ad hoc
7. Key individuals may have practical delivery Generic Attributes
experience and track record 1. Information has a refresh cycle or is regularly
accessed
8. Roles, responsibilities and competencies
defined in some areas but not consistently 2. Organization-wide information standards on
across the organization confidentiality, availability and integrity
9. Plans exist but are not underpinned by consistent 3. Formal information release management
development methodology, yet may still be procedures
effective locally
4. Independent reviews take place
10. Planning seen as activity tracking rather than
5. Scrutiny largely for compliance reasons,
proactive/forecasting
identifying failures rather than opportunities
11. Estimation is more “guesstimation” and does for improvement
not use standard techniques
6. Plans developed to a central and consistent
standard that is output- or goal-based

Portfolio, Programme and Project Management Maturity Model (P3M3®) 19

 P3M3® – Portfolio Model

7. Plan development takes into account a range Generic Attributes

of relevant factors 1. Information is current and extensively referenced
for better decision-making
8. Evidence of effective estimating techniques
2. Trend analysis and measurement undertaken
9. Dependencies are identified, tracked and
on performance information to identify
managed effectively
improvement opportunities
10. Training is focused on the organization’s
3. Knowledge management is a central function
approaches and raising competence of
and is used to help improve performance
individuals in specific roles
and planning
11. Forums exist for sharing organizational
4. Reviews focus on opportunities to improve as
experience to improve individual and
well as compliance
organizational performance
5. Plans kept up to date, with the application
12. Centrally managed role definitions and
of sophisticated planning techniques and
sets of competencies defined and used
recognition of interdependencies
to support appointments
6. Extensive training is provided, focusing on
personal development and performance
PfM3 - Resource Management – Level 4
improvement
Description
The organization has established effective capacity 7. Evidence of interventions to avoid conflicts and
and capability strategies and processes for obtaining, take advantage of opportunities
allocating and adjusting resource levels (including
8. Mentoring and individual development is used to
people, funding, estate and tools) in line with
improve organizational performance
medium- and long-term investment plans.
9. Succession plans exist for key roles
Specific Attributes
1. Practices and processes of the organization
PfM3 - Resource Management – Level 5
support portfolio management and the
Description
acquisition, allocation and efficient management
Portfolio management drives the planning,
of resources across departmental and functional
development and allocation of initiatives to optimize
boundaries
the effective use of resources in achieving the strategic
2. Utilization of the organization’s resource pool objectives and priorities. There is an organization-wide
monitored in order to plan, manage and meet its resource management policy and strategy for the use
resourcing needs across all initiatives of internal and external resources.
3. Priority of initiatives within portfolio informs There is evidence of continual improvement.
decisions on resource allocation
Specific Attributes
4. Portfolio resource management integrates
1. Impact of portfolio on strategic planning and
operational and portfolio resource needs
its implementation on future resource capacity
5. Return to business as usual arrangements for demands and capability requirements are
staff seconded to programmes and/or projects understood and managed
are implemented and effective
2. Optimal usage of organizational resources can
6. Potential resource conflicts across initiatives be demonstrated
resolved on the basis of strategic priorities, levels
3. Portfolio resource management processes
of risk and extent of benefits to be realized
continually improved based on lessons learned
7. Performance assessment of resources based and key performance measures
on initiative delivery rather than individual or
4. Resource allocation to and from initiatives
team performance
intimately aligned with achieving strategic
8. Continual engagement with supply chain objectives and priorities
to optimize deployment of internal and
5. Performance metrics evident to assess resource
external resources
contribution to organizational performance
framework (or scorecard)

20 Portfolio, Programme and Project Management Maturity Model (P3M3®)

 P3M3® – Portfolio Model

Generic Attributes
1. Information is valued, with continual
maintenance and reference
2. Evidence of extensive intelligence-gathering
processes, with information disseminated
through a variety of channels
3. Review and improvement is continual and
proactive, with lessons being shared openly
4. Planning inherent in decision-making process,
with adjustments and implications managed
and deployed
5. Active management of interdependencies
between initiative plans and other business plans
6. Estimations are accurate and used effectively to
ensure delivery
7. High levels of competence embedded in all roles
and seen as part of career paths
8. Knowledge transfer is an inherent behaviour
within the organization
9. Skills embedded into organizational leadership
and management development programmes

Portfolio, Programme and Project Management Maturity Model (P3M3®) 21

Feedback concerning the model should be sent to
[email protected]
Feedback concerning the self-assessment should be sent to
[email protected]

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