Improving project management maturity using OPM3 standards

Portfolio Management

The objective of Part A of this study is to analyze the key best practices that the organization can adopt to improve its project management maturity level and to examine and describe the key elements of change management, which could be used during an initiative to raise the project maturity level of an organization. OPM3 has specific benefits to the organization in that it makes provision of a method to advance the strategic goals of the organization using project management principles and practices. The Best Practices and Capabilities in the OPM3 Standards are reported to be "mapped to two key factors: (1) domain; and (2) stage. ( p.19) Domain is reported to refer to "the three domains of the project" which include: (1) project; (2) program; and (3) portfolio management. (Project Management Institute, Inc., 2003, p. 19) Stage is reported to refer to "the stages of process improvement." (Project Management Institute, Inc., 2003, p.19) Process improvement means making a process "capable" which involves the "sequential stage of improvement" which includes: (1) standardize; (2) measure; (3) control; and (4) continuously improve. (Project Management Institute, Inc., 2003, p.19) Therefore, best practice and capability in the OPM3 Standard is reported to be linked to "one or more of these process improvement stages." (Project Management Institute, Inc., 2003, p. 19) Capabilities in OPM3 are additionally linked to the five project management process groups including: (1) initiating; (2) planning; (3) executing; (4) controlling; and (5) closing. (Project Management Institute, Inc., 2003, p. 19) It is reported that the progression of the organization's increasing maturity, which OPM3 has designed, includes several dimensions or various ways of examining the maturity of the organization: (1) best practices in terms of the association with progressive stages of process improvement; and (2) progression of best practices associated with each of the domains. (Project Management Institute, Inc., 2003, p. 4)

Part B

The objective of this study is to read two case studies and contrast the two cases in regards to the current situation within the corporation regarding portfolio project management or project management in general, the motivation for attempting to improve portfolio project management or project management, the specific steps each company took and the reasons for these steps and the benefits that each company achieved. The two case studies chosen include: (1) (1) Project Management Institute, Inc. (2007) PMI® case study: AAA of Northern California; and (2) Project Management Institute, Inc. (2007) PMI® case study: Savannah Final Eversion

Case Study 2: OPM3

Published in 2003, the OPM3 standard was a software tool crated by CPM3 Product Suite comprised by a program that includes not only training but also certification linked with a strategic partnership with Oslo, Norway Company Dat Norsive Veritas Certification. Each of the companies desired to test QPM3 in real time. The first pilot project was the Washington Savannah River Co. (WSRC) a wholly owned subsidiary of Washington Group International. This company, located in Boise Idaho has over $3 billion in annual revenue with a total of 24,000 employees globally in projects involving "power, environmental management, defense, oil and gas processing, mining, industrial facilities, transportation and water resources." (OPM3, n.d., p. 1) The identified challenges in work processes were technical, scope management cost and schedule related challenges. The approach of management is focused on increased emphasis on project management implementation through use of principles and practices across the entire Savannah River Site. The company reports "constraints on assessment methods" but included: (1) standardize; (2) measure; (3) control; and (4) continuously improve, as the four process improvement groups. (OPM3, n.d, p.3) Best practices employed are reported as being "hundreds in the OPM3 standard." (OPM3, n.d, p. 3) Project execution plans and schedules were examined as well. Reported as results of the project was an "overall relative maturity achieved by WSRC at the Savannah River Site in the traditional project arena was very high." (p.4) Stated as the enablers of the maturity level reported inclusive of: (1) benchmarking, (2) executive sponsorship, (3) knowledge management, (4) resource allocation, (5) strategic alignment, (6) project management training and metrics, and (7) many others are stated as ranked at "97%.." (OPM3, n.d, p.4)