P3O – Portfolio, Programme and Project Offices

What is Portfolio?

A portfolio is the totality of an organization’s investment (or segment thereof) in the changes required to achieve its strategic objectives.

What is Programme?

A programme is defined as a temporary, flexible organization created to coordinate, direct and oversee the implementation of a set of related projects and activities in order to deliver outcomes and benefits related to the organization’s strategic objectives.

What is Project?

A project is also a temporary organization, usually existing for a much shorter duration, which will deliver one or more outputs in accordance with a specific Business Case.

What is P3O?

P3O provides a decision-enabling/delivery-support model for all business change within an organization. This may be provided through a single permanent office, which may exist under several different names, e.g. Portfolio Office (strategy/organization or business unit focused), Strategy or Business Planning Unit, Centre of Excellence, Enterprise or Corporate Programme Office, or be provided through a linked set of offices (Portfolio Office, Programme Offices, Project Offices), both permanent and temporary, providing a mix of central and localized services.

image

image

 

P3O model aligned to portfolio, programme and project lifecycles

image
Mature P3O models provide:
■Governance – supporting governance (including structures and accountabilities) through scrutiny and challenge, ensuring return on investment through effective management of delivery and risk
■Transparency – relevant, accurate and timely information (single source) to support decision-making
■Delivery support – ensuring programme, project managers and operational business managers do things right (competency and skills) and do them well (assurance), reducing bureaucracy and encouraging consistency
■Reusability – embedding industry and sector best practice and sharing lessons learned
■Traceability – history and documentation.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s