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P3O®, an abbreviation for Portfolio, Programme, and Project Office, is a structural recommendation that encourages the development of an overarching ‘office’ entity to oversee portfolios, which makes informed decisions on whether or not to continue with a project and the formulaic processes they should adhere to.
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P3O®, devised by the Office of Government Commerce, is based upon the principle of utilising linked resources to ensure and maintain business support structures that elevate business value. P3O® aligns project management principles, methods, and techniques to facilitate organisational change, through developing an underpinning support structure.
Creating a platform that logical and decisive decisions can be made, the P3O® framework acts as a guide for establishing a structure that emphasises accountability, transparency, tailorability, and functionality. P3O® certifications are signifiers of an individual’s professional proficiency regarding management, ability to prioritise, and unify the business planning phase with business objectives.
Whilst elevating return on investment through aligning strategic drivers with achievement, the P3O® framework ensures that projects and programmes are managed simultaneously and conjointly, rather than as separate functions of an organisation, through the formation of an overarching ‘office’. This office encourages the support to beneficial projects and programmes, and determines whether dysfunctional projects/programmes should be jettisoned - with a central foci on elevating business value and working within the realms of a business’s objectives.
Offices determine such business value, through measuring projects and programmes against set criteria, including: project type, strategic fit, net present value, cost, customer satisfaction, resources, and the risk of delivery - such information informs the order of prioritisation and whether a project should get the seal of approval from senior responsible owners and stakeholders. In essence, the project office sets the standards for an organisation’s project management operations.
The existence of a portfolio office allows senior managers and owners to have an overarching panoramic overview of their portfolio operations, from which they can make informed decisions; whilst the P3O® model itself provides a guideline for balancing out portfolios and developing business cases. The requirement for a P3O® and comprehensive portfolio management becomes more apparent and necessary the larger an organisation grows, due to the complex constituents of each specific project and programme.
Hence, our P3O® certifications are intended for senior owners, project and programme managers, and office contributors, and have a central focus on enhancing managerial competencies required to make operational decisions regarding portfolios, programmes, and projects. All of our P3O® training courses are accredited by PeopleCert on behalf of the governing body AXELOS.
P3O® is a registered trade mark of AXELOS Limited, used under permission of AXELOS Limited. All rights reserved.
The Swirl logo™ is a trade mark of AXELOS Limited, used under permission of AXELOS Limited. All rights reserved.
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