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Investor Confidence Rating – P3M3 Maturity

Page updated 19 Sep 2017

The P3M3 Maturity measures the capability and maturity of an organisation to run projects, programmes and portfolios.

The P3M3 model was developed by the UK Office of Government Commerce in 2005. The latest version (v3.0) is published and maintained by a joint venture company, Axelos which manages the UK Government’s best practices portfolio in concert with the UK Cabinet Office.

The method is highly relevant to investment activity in central government which is increasingly focused on the management of programmes and portfolios.  The methodology is useful for benchmarking current maturity levels, establishing target levels and for capability improvement planning. 

For ICR purposes, the Treasury has procured a panel of accredited suppliers that can deliver facilitated P3M3 assessments across NZ government (using the diagnostic tool rather than self-assessment tool). The Treasury uses an averaging approach to produce its ICR P3M3 results, and so these results (not being the lowest result per "perspective" or "thread") are not comparable to other global non-ICR P3M3 results. Agencies can easily calculate a certified P3M3 result for portfolio, programme and project management, using the lowest thread and perspective scores, which are comparable to global P3M3 results.

The P3M3 results can be entered into the P3M3 template: p3m3-template-examplescoring.xls (35 KB)

For more details on the proprietary P3M3 model itself, refer to: https://www.axelos.com/best-practice-solutions/p3m3

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