Most organisations can talk about the projects they’ve done that have gone well. A much harder question to answer is whether they have the capability to deliver the same results consistently, particularly when priorities change, resources are stretched and key people move on.
A Portfolio, Programme and Project Management Maturity Model (P3M3) assessment provides a structured way to examine that capability. It helps leaders understand where their organisation stands and where improvement would be most valuable.
For executives and project leaders, the practical question is simple: what needs to change to give us greater confidence in delivery?
What is a P3M3 assessment?
P3M3 is an internationally recognised maturity model covering portfolio, program and project management. An assessment can examine one of these areas or a combination, depending on the organisation’s needs. It can be applied regardless of the delivery methods or frameworks already in use. [1]
The distinction between the three areas matters when agreeing the assessment scope:
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- Portfolio management concerns the selection, prioritisation and oversight of investments in change.
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- Program management coordinates related projects and activities to achieve outcomes and benefits.
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- Project management concerns the delivery of defined outputs within agreed parameters.
An organisation might have capable project managers but struggle to prioritise investments or manage competing demands across its portfolio. Examining these areas separately helps leaders ask more precise questions about the capability they need.
What does P3M3 assess?
The model examines seven management perspectives across five maturity levels. [2]
| Perspective | Practical questions to explore |
| Organisational governance | Are accountabilities clear and decisions made at the right level? |
| Management control | Are plans, progress and changes managed consistently? |
| Benefits management | Are intended benefits defined, owned and tracked? |
| Risk management | Are risks understood, escalated and acted on? |
| Stakeholder management | Are the right people engaged throughout delivery? |
| Finance management | Are costs, forecasts and financial decisions controlled? |
| Resource management | Is there enough capacity and capability to deliver the commitments made? |
These questions illustrate the types of issues leaders should explore. The formal assessment uses the model’s detailed attributes to evaluate maturity. [2]
A useful starting point is to ask how well the organisation’s documented approach reflects everyday practice. A risk register may exist, for example, but does it influence decisions? A business case may describe benefits, but who takes responsibility for achieving them? An assessment examines both the documented approach and evidence of how it is applied. It looks beyond whether standards exist to whether they are consistently used and influence decisions across the organisation.
What the maturity levels mean
P3M3 uses five levels to describe increasing maturity. The following explanations summarise their meaning in practical terms. [2]
| Level | Description | Practical meaning |
| 1 | Awareness of process | The need for management processes is recognised, although practice may be informal. |
| 2 | Repeatable process | Some established approaches can be repeated, with variation across teams. |
| 3 | Defined process | A consistent organisational approach has been established. |
| 4 | Managed process | Performance is measured and used to manage and control delivery. |
| 5 | Optimised process | Continuous improvement is embedded in how the organisation operates. |
At Pledge Consulting, we encourage leaders to consider the capability their delivery environment requires. The target should reflect the specific scale, complexity and risk of the organisation’s work. It should be fit for purpose, no more, no less.
Why a P3M3 assessment is valuable
It gives leaders a common starting point
Different teams can have very different views of how well delivery is working. Finance may see reliable cost reporting while project teams experience slow approvals and sponsors struggle to understand whether benefits are on track.
An assessment provides a structured basis for discussing those experiences and agreeing where attention is needed.
It helps focus improvement investment
When delivery problems emerge, the instinct can be to buy a new tool, introduce more templates or send everyone on training. Each may have value. The question is whether it will actually address the underlying problems.
If governance pathways or decision rights are unclear, another reporting template may add work without resolving the issue. If the portfolio exceeds available capacity, training alone will not make the commitments achievable. Assessment findings can help leaders choose interventions that fit the problem.
It broadens the conversation beyond project teams
Our view is that delivery capability needs to be considered right across the organisation. Sponsors, executives, business owners and corporate functions all influence whether projects succeed. No project or program is delivered in isolation. This matters when agreeing actions. A project management office (PMO) can support better benefits management, for example, but business leaders need to accept ownership of the benefits.
It creates a baseline for improvement
P3M3 provides a basis for tracking maturity over time. An assessment report identifies improvement areas and relevant conditions for success. An improvement roadmap or additional benchmarking can also be included when agreed in the engagement scope. [1] Repeating the assessment every two to three years can help organisations track progress and maintain a focus on improvement.
For leaders, this creates an opportunity to test whether investment in capability is changing practice. Has escalation improved? Are resource decisions better informed? Are benefit owners following through? Is the organisation resilient enough to continue delivering through periods of change and transformation?
Turning findings into action
We recommend beginning with a clear purpose for the assessment. What decisions should it inform? Which parts of the organisation need to be included? What delivery concerns are prompting the work?
The evidence gathering approach should then be agreed with the assessor. This may include reviewing governance and delivery documents, speaking with a representative range of stakeholders and examining examples of how processes operate.
Before commissioning an assessment, consider the deliverables you need. We typically provide findings that explain the evidence, the implications for delivery and the priorities for action. A detailed implementation roadmap can also be included in the agreed scope.
Frequently asked questions
Is P3M3 only an assessment of the PMO?
P3M3 covers portfolio, program and project management capability. [1] A PMO may coordinate the assessment, but the scope should consider the roles and functions that influence delivery. We recommend involving sponsors, business owners and relevant corporate functions alongside delivery teams.
Do we have to assess all three areas?
You can assess portfolio, program or project management individually, or combine them. [1] Choose the scope according to the questions you need answered. If investment prioritisation is the concern, a project-only assessment may leave an important gap.
Do we need to use PRINCE2?
The model is framework agnostic, so it can be applied regardless of the methods or frameworks your organisation uses. [1] Your assessor should agree how the evidence will be gathered across your delivery environment.
What is the difference between a P3M3 assessment and a project assurance review?
A P3M3 assessment examines organisational management maturity within an agreed scope. [1] A project assurance review typically examines a particular initiative, such as its readiness for a decision or its prospects of achieving intended outcomes. The two can provide complementary insights. A P3M3 assessment may also highlight the need for a closer review of specific initiatives.
How long does an assessment take and what does it cost?
Both depend on the scope, organisational complexity and depth of assessment. Agree the timetable, stakeholder commitment, evidence requirements and deliverables before work starts. A focused assessment of one business unit will involve a different level of effort from an assessment spanning multiple divisions and all three management areas.
How should we prepare?
Clarify why you are undertaking the assessment, appoint a senior sponsor and identify the stakeholders who need to contribute. Gather existing evidence such as frameworks, business cases, reports and governance records.
We recommend sharing examples that reflect normal practice, including the areas that are difficult. That gives the assessor a more useful basis for identifying improvements.
Will we receive certification?
PeopleCert describes certification as an optional part of the P3M3 assessment offering. [1] Confirm whether your engagement includes formal certification and the requirements that apply. An assessment report and a maturity certificate are separate outputs.
What happens after the assessment?
Agree which improvements to implement, who owns them and how progress will be reviewed. We recommend connecting the actions to the organisation’s delivery priorities, with visible executive support and sufficient capacity to implement them.
P3M3 assessments with Pledge Consulting
Pledge Consulting is accredited by PeopleCert to conduct P3M3 assessments. We bring specialist project management and PMO expertise to help organisations understand their capability and identify practical priorities for improvement.
If you want greater clarity about how your organisation manages projects, programs and portfolios, talk to us today about an assessment that fits your needs.
