Project Management Success and Failures in an Organization (Essay Sample)

Project Management Success and Failures in an Organization
Name
Institution
Subject
Date
Top of Form
The Project Management Maturity Model is a formal tool designed by the project management solutions and it is used for measuring organization's project management maturity. Once the level of maturity and other areas that require improvements have been identified, the Project Management Maturity Model provides a roadmap outlining the steps necessary to take towards project management maturity performance and advancement improvement (Kerzner, 2002). Furthermore, the use of maturity models allows the firm to have specific methods and procedures assessed according to management best practice against a clear set of external benchmarks. The award of a particular Maturity level usually is indicated by maturity. Therefore, a maturity level assessment by registered consultants of a given organization's portfolio, project and program management will result to benefits such as; a known maturity level that contains precise recommendations on how to improve the project, larger improvement of self-assessments and independently held sets of various benchmarks.
Various maturity models include Onemind Maturity Model, PRINCE Maturity Model and P3M3 Maturity Model (Kerzner, 2013). The paper will focus on the P3M3 Maturity Model because of its widespread use in project managements. The portfolio, programme, and project management Maturity Model is a key standard amongst the other maturity models and it provides frameworks within which different organizations are able to assess their current performance and plan for future improvements when delivering and managing change within the organization. The model provides other three maturity models that can be used separately to help in focusing on specific areas of the firm or help the organization to assess fully the existing relationship between their programmes, portfolios and other projects. The sub maturity models include Portfolio Management (PfM3), Programme Management (PgM3) and Project Management (PjM3). The model allows for assessments of the process employed, the tools deployed, competencies of the people and the management of information used when delivering and managing improvements. This is advantageous because it allows the organization to determine their existing strengths and weakness in delivering change required within the firm. Moreover, there exist no interdependency within between the models so an assessment may be against one, or all the other sub-models. It is, therefore, possible for an organization to be perfect on project management than it was in project management. P3M3 Maturity Model design was to help all organizations undertaking various projects and other programs assess their maturity and identify the key areas for development and improvement (Khoshgoftar et.al. 2009).
The model can thus help in plotting a roadmap for improvement based on the priorities that the firm identified. At level1, the maturity of the firm should recognize the importance of project management. The level focuses on the funda...