In the near future, the name of your project management office may be changed to the P3O – Portfolio, Programme and Project Office.
And that’s all because of a project conducted jointly by the OGC, TSO and APMG. The aim of this project, whose first result we should see this summer, is to create guidelines and a set of best practices on organizational units supporting projects, programs and portfolios of projects in the organization. Because the OGC, TSO and APMG are involved in this project, P3O will comply with standards including PRINCE2, MSP, M_O_R, ITIL.
What will we get as P3O initiative deliverables?
- P3O business case, how P3O provides value to the organization, useful for those PMOs where they are seen as cost centers,
- How to build P3O, which model to use, how adjust the P3O to size of the organization / number of projects and programmes in the portfolio?
- The life cycle of P3O
- Measures of P3O efficiency
- Tools for P3O
The idea of creating an official model of P3O is very interesting and necessary, this knowledge won’t be available only for few any longer. Existing offices will get a powerful tool that will help them in further development (P3O model allows to benchmark with others), and they can use it also to internal marketing within their organization.
Here are a few more details about P3O: