With 34-36% of projects failing, according to Standish and PMI, around the world each year, we must be wondering why we can’t improve that statistic. The simple answer is we can.
Those organisations at a higher level of organisational capability maturity in project, program and portfolio management are delivering much higher levels of success, according to PMI’s Pulse of the Profession 2016, and you can too.
P3M3® is a robust and credible tool for assessing organisational capability maturity, providing detailed information on what will deliver improved results.
A higher level of maturity yields improved results but also a different culture. At level 3 the right people are attracted to your organisation, helping to spiral up with better people delivering better results. There’s also less chance of maturity levels rescinding. Here’s an analogy:
"If you put 20 children in a swimming pool and ask them to warm up, at level 1 capability maturity, they swim in different directions and crash into each other, making a lot of noise and not being very effective. However, at level 3, the same 20 children swim up and down in lanes, very effective. Importantly, if you replace half of the children, then the new children follow the others and swim up and down in lanes, retaining the maturity level."
Through our experience of conducting many P3M3 reviews, we’ve learned what works best in developing improvements and we’ve developed a number of tools to help develop the roadmap of improvements. We’ve also seen some great frameworks and ideas from many organisations that we’ve worked with.
QVC partners with Aspire Europe, whose CEO Rod Sowden is the lead author of P3M3 as well as the lead author of Managing Successful Programmes (MSP).