Portfolio, Programme, Project Offices (P3O), commonly referred to as PMOs, can play a very important role in supporting programmes and projects to achieve their outcomes.
First released in 2008, the P3O® standard was formed by an international committee of experts to define the functions, services and roles of different PMO office types. It was developed under the supervision of the United Kingdom government.
Further, the P3O standard explains the relationships between various office types and the key considerations for designing a model to support achievement of corporate, portfolio, programme and project objectives. At its simplest form a model may consist of one office supporting a single project. A more complex model may be a combination of a central Portfolio Office with links to project and programme offices across the organization.
At its highest capability a P3O model can act as the governance backbone of the organization’s change initiatives. Supporting project and programme delivery and enabling strategic decision making, such as project/programme prioritization and resource allocation.
Today the P3O standard is used as an international benchmark for PMOs to assess the appropriateness of their current structure and functions against organization needs.
The P3O standard provides a methodology for reviewing an organization’s project, programme and portfolio support needs, together with detailed guidance and a defined processes for establishing or re-engineering a P3O model.
In summary, designing a P3O model involves matching the functions, services, roles and techniques as outlined in the P3O guide to the organization’s needs and existing portfolio, programme, project capability levels.
The P3O standard is an internationally recognized standard with organizations across the globe using it as their reference when designing a single PMO or a broader P3O model.
ADVANTAGES OF APPLYING THE P3O STANDARD
Aligning your PMO model with an internationally recognized standard
Applying a proven step-by-step guide to establish or re-design your PMO to meet organization requirements
Clear definition of the functions, services, roles and responsibilities of the PMO and its staff
Enabling a portfolio, programme and project support framework that contributes to strategic decision making
Application of techniques, tools and methods used by leading organizations for project prioritization, dashboard performance reporting, knowledge management and other common approaches to support programme and project delivery
P3O CERTIFICATION EXAM
There are two levels of P3O certification. P3O Foundation certification is achieved by completing and passing the P3O Foundation exam. The aim of the Foundation exam is to assess the candidates understanding of the functions, services, roles, tools and techniques as outlined in the P3O standard.
P3O Practitioner is the second certification level. The P3O Practitioner exam is designed to assess an individual’s ability to design, implement and manage or work within any component of a P3O model.
Passing the P3O Foundation exam is a pre-requisite to completing a P3O Practitioner exam.