PMI’s Organizational Project Management Maturity Model (OPM3®) – Third Edition states: “OPM is a strategy execution framework that utilizes portfolio, program, and project management as well as organizational-enabling practices to consistently and predictably deliver organizational strategy to produce better performance, better results, and a sustainable competitive advantage. OPM addresses the integration of the following:
- Knowledge (of the portfolio, program, and project processes)
- Organizational strategy (mission, vision, objectives, and goals)
- People (having competent resources), and
- Processes (the application of the stages of process improvement)”.
There is a natural instinct to consider OPM as unnecessary, and “money down the drain”. There is also a prevalent belief that OPM adoption is an exercise that only large corporations with deep pockets can afford to initiate.
However, the real question is: Can an Organization afford to not execute an OPM initiative if it is to grow and stay competitive? OPM adoption is a strategic investment that every Organization needs to make in order to survive, to become more competitive, and to grow in today’s business world.
The factors that set high-performing organizations apart from the rest are that they are much more mature in their project management practices than low performers, and they show substantially greater value in a variety of project management performance measures that matter most to executives, especially the percentage of cost savings per project. Bottom line: More mature firms deliver more value.
OPM recommends several best practices – Organizational enablers (OEs) in PMI’s OPM3 parlance – that organizations of different sizes and at differing levels of organizational maturity can leverage, to improve their ability to deliver to their strategic goals. An organization can look inwards at its own vision, mission, strategic objectives and values, and decide which Organizational Enablers are most important to them for achieving the strategic objectives of the company. The Organization can also prioritize the OEs, with immediate attention being given to the OE that requires most urgent action.