The Benefits of P3O
P3O has two major benefits: it enables the organization to do the right projects and programmes - by doing projects and programmes right.
Doing the right projects and programmes is about making sure that funds are spent on the things that matter and that the focus is on delivering projects and programmes that support corporate strategy.
Doing projects and programmes right describes the need to deliver projects and programmes consistently and efficiently.
P3O supports the Key Principles for extracting more value from project and programme investments. These Principles, below, rely on the two major benefits, above.
Principle 1: Govern Effectively
P3O can help by:
- Providing support to senior management
- Supporting governance: making sure that issues, risks and changes are escalated to the right level of authority.
- Making sure that accurate and timely data is collected to enable quality decision making
Principle 2: Hold people to account
P3O can help by:
- Providing senior managers with decision support - analyzing options and consequences
- Providing support, coaching and training to all levels of role
- Providing standard role descriptions and terms of reference for project and programme boards
Principle 3: Prioritize investment, align and adjust business strategy
P3O can help by:
- Maintaining a register of all programmes and projects in teh portfolio, including ideas in the pipeline
- Facilitating pre-programme and project scoping workshops
- Supporting risk identification workshops across the portfolio
- Scanning the business horizon for upcoming changes to strategy, business issues or delays and analyze the probability and impract of risks on the portfolio
Principle 4: safeguard value
P3O can help by:
- Supporting the business case process
- Providing a benefits tracking process to business owners
- Helping to identify potential opportunities to be realized, exploited or enhanced as part of risk analysis
Principle 5: Invest in people and process
P3O can help by:
- Developing training, coaching and mentoring for all roles
- Advising on skills and capability assessments
Principle 6: Track progress through highlight and exception based reporting
P3O can help by:
- Providing a reporting and exception management service from project to portfolio level
- Developing management dashboards to engage senior managers on key risks, issues and progress
Useful links
- What is P3O?
- P3O Training Courses
- P3O Certification and Exams
- Course Schedule
- Testimonials
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