P3O stands for Portfolio, Programme and Project Offices and is the latest guidance to be developed by the Office of Government Commerce (OGC). A P3O model provides a decision enabling/delivery support structure for all types of change within an organisation.
This new guidance brings together in one place a set of principles, processes and techniques to facilitate effective portfolio, programme and project management through enablement, challenge and support structures. These structures also bridge the gap between the strategy/policy makers and the delivery arm of the organisation.
P3O Model
P3O provides a set of models of offices that can make available support for portfolio management, programmes and projects. These can:
- Range from Permanent through to Temporary
- Be Physical or Virtual and
- Include Centralised or De-centralised offices.
You may already know of these offices as a Support Office, Portfolio Office, Centre of Excellence, Enterprise or Corporate Programme Office, Programme Management Office, Project Office, etc.
Functions & Services
P3Os provide a vast range of services. Now for the first time, these services are described in detail under 22 headings further sub divided by portfolio, programme, project and centre of excellence.
The Value of a P3O
Elements of a P3O already exist in many organisations. But there is always pressure to justify the value of the services offered and align the resources available to the services provided and needed.
P3O rigorously examines the P3O value proposition and helps organisations make the business case to justify or improve the P3O.
Implementing or Re-energising a P3O
Beyond articulating the value proposition, we have to understand how rigorously P3O services need to be delivered and how best to organise any required improvement.
P3O summarises the Portfolio, Programme and Project Management Maturity Model. Organisations can use this tool to assess and articulate the manner in which P3O services are currently delivered across the organisation. It is then possible to objectively describe specific, targeted improvements that will offer maximum value.
Many organisations regard improving a P3O as a project but problems can then arise when the capability is delivered but is not exploited effectively. P3O uses best practice from Managing Successful Programmes to understand how P3O improvement can have the right impact on the organisation.
A P3O helps:
- Maintain the big picture understanding of business change
- The organisation do the right change initiatives right.
- Inform senior management decision making on strategic alignment, prioritisation, risk management and optimisation of resources to aid successful delivery of business objectives.
- The identification and realisation of business outcomes and benefits via programmes.
- Successful delivery of project outputs that enable benefits within time, cost, quality, scope and risk constraints.
