"What is P3o"? P3O certified Portfolio, program and project office

How to differentiate the Portfolio Office from the program and Project office?

P3o? (portfolio,programmed and Project offices-Portfolio, program and Project Office) is the latest project management Best Practice Guide, published by the UK Department of Commerce , on October 28, 2008. Is the world's first open, mature, systematic project management Office (program Management Office) operational reference Standard, and the introduction of the Chief Project Officer qualification, is currently one of the top project management qualification certification in the field.

In the P3O model, the difference between a portfolio office and a program and project office is that:

(1) The Portfolio Office focuses on doing the right thing, while the project group and the project Office focus on the right things

(2) The project portfolio Office defines what is right. The right thing to do is to be able to achieve a strategic goal in a specific time, with a combination of acceptable levels of risk, complexity, cost, and impact on daily operations.

(3) The Portfolio Office is usually permanent and is associated with the company's financial governance structure and decision-making system. Ideally, the Portfolio Office would have direct contact with the high-level Committee.

In short, the Portfolio office is not simply expanding the size of the project/project office.

The P3O model functions through the Portfolio Office, program and Project Office, and three offices can add value at different stages of the Portfolio/program/project life cycle.

A typical portfolio office can provide methods and approaches for the following areas:

• Establish a framework for selecting the right program and project for your organization
• Ensure that the programs and projects in the implementation are aligned with the strategic objectives
• Assess whether the newly generated requirements match the organization's current competencies and maturity level
• Configure the right resources to the right programs and projects
• Ensure a careful review and challenge
• Identify and manage dependencies between programs and projects
• Resolve conflicts and disputes over scarce and expensive resources (can be technical or commercial resources, or change resources)
• Help define threats and opportunities, assess the true meaning of project and project overall risk
• Monitor program and project progress with reference to key objectives
• Ensure the successful implementation of ongoing programs and projects
• Value Management -proactively manage portfolio, optimize value, implement benefits, and feedback the lessons learned in investment selection and portfolio prioritization processes
• Get value for money savings and efficiencies through the rationalization of programs and projects
• Take into account the ability of an organization to absorb changes and minimize disruption to normal operations, ensuring a balanced portfolio of organizations
• Linking the benefits of change to the performance management architecture
• Ensure investment in research and development activities for the long-term survival of the Organization

"What is P3o"? P3O certified Portfolio, program and project office