P3O

Portfolio, Programme and Project Offices

A best practice framework developed by the UK government’s Office of Government Commerce (OGC). It guides establishing, developing, and maintaining support structures for effective portfolio, program, and project management within organizations. Key concepts in P3O:

1. Portfolio Office: Provides strategic oversight and governance for an organization’s portfolio of programs and projects. It ensures alignment with organizational strategy, prioritizes investments, and optimizes resource allocation.
2. Programme Office: Supports the management of a specific program by providing guidance, coordination, and control. It ensures the program delivers its intended outcomes and benefits.
3. Project Office: Supports the management of individual projects by providing administrative, planning, and monitoring support. It ensures projects are delivered on time, within budget, and to the required quality standards.
4. Models: P3O describes different organizational models for implementing support structures, including Individual Model (separate offices for each level), Hub and Spoke Model (a central office with distributed support), and Integrated Model (a single, integrated office supporting all levels).
5. Functions and Services: P3O defines a range of functions and services that portfolio, program, and project offices can provide, such as governance, assurance, standards, training, and tools.
6. Roles and Responsibilities: P3O outlines the key roles and responsibilities within each type of office, such as Head of Portfolio Office, Programme Office Manager, and Project Office Analyst.
7. Maturity Model: P3O provides a maturity model to assess an organization’s current level of portfolio, program, and project management capability and identify areas for improvement.

P3O is designed to be compatible with other OGC best practice frameworks, such as PRINCE2 for project management, MSP for program management, and MoP (Management of Portfolios) for portfolio management.

Benefits of implementing P3O:

• Provides a structured framework for establishing and operating support offices
• Enhances the effectiveness and efficiency of portfolio, program, and project management
• Improves alignment of investments with organizational strategy
• Facilitates better decision-making and resource optimization
• Promotes consistency and standardization of processes and practices
• Supports the development of management capabilities and skills
• Enables better monitoring, reporting, and control of initiatives

P3O certifications are available at the Foundation level for individuals who want to demonstrate their understanding of the framework.

While P3O was developed by the UK government, it has been adopted by organizations in various sectors worldwide to establish and maintain effective support structures for delivering successful portfolios, programs, and projects.

• Abbreviation: P3O