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Investor Confidence Rating – P3M3 Maturity

Page updated 20 Dec 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).

Note that the ICR scoring of each model is based on the average of all AXELOS certification perspective scores. This differs from a P3M3® certification score, which allocates the lowest of the 7 perspective scores. However, the ICR scoring by perspective is the same as the AXELOS perspective scores and reflects the progress made between certification levels. This provides a good indication of actual capability maturity and the associated diagnostics assist in focusing the further improvements. Due to the Treasury using an averaging approach to produce its ICR P3M3 results, these results are not comparable to other global non-ICR P3M3 results.

Agencies can easily calculate a P3M3 result for portfolio, programme and project management, using the lowest perspective scores. These results using lowest scores are then able to be submitted to the P3M3 intellectual property (IP) owner AXELOS Limited (Axelos), and if approved by Axelos, these become certified P3M3 scores enabling comparison and benchmarking 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:


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