Solutions
- SugarCRM
- PM3
- PM3 Overview
- PM3 Elements
- Prioritising Projects
- Resource Management
- PM3 and P3O
- Capacity Management
- Project Governance
- Project Accounting
- PM3 - Top down Planning
- Benefits Realisation
- Risk and Issue Management
- PM3 for Health
- PM3 for Cost Reduction
- Implementing PM3
- Why PM3
- PM3 - Return on Investment
- PM3 Release 6
- PM3 Retail
How Bestoutcome's PM3 tool supports P30
What is P3O?
P3O, is a complementary best practice guide to Prince and Managing Successful Programmes (MSP) – all developed by the Office of Government Commerce (OGC).
The official OGC guide to P30, defines it as follows:
“P3O provides a decision-enabling/delivery-support model for all business change within an organisation. This maybe through a single permanent office ... or be provided through a linked set of offices.”
The 3 in P3O as in PM3 relate to the terms: portfolio management; project management; and programme management.
P3O provides a set of principles for extracting value from programme and project investment. These are listed below together with the way that PM3 supports these principles.
P3O Principle: Govern Effectively. PM3 provides over 57 reports and senior managment dashboards.
P3O Principle: Hold people to account. PM3 uses a role and resaponsibnility chart that clearly identifies who is accountable for what.
P3O Principle:Prioritise investment, align and adjust to business strategy. PM3 has the concept of proposed and forecasted value that enables senior management to evaluate change initiatives and realign if appropriate.
P3O Principle: Safeguard value. PM3 has a benefits tracking module that tracks benefits during and post project delivery.
Summary
Implementing a P3O is a challenge as it can be seen as an overhead whereas when it is done properly it can add real value to the organisation. However, meeting all the requirements of P3O is very labour intensive, costly and prone to error without employing a tool that supports the PM3 principles outlined above.
Without the tool to support P3O, the business case becomes harder to justify to senior management. The other real benefit of a tool like PM3 is that it helps drive the organisational change that is required to implement P3O.
For an overview of PM3 please click here
