Professional Practice & Standards Overview - Week 7

Professional Practice & Standards (SSUD12-108)

• Course code: SSUD12-108
• Course title: Professional Practice & Standards
• Instructor: Dr Muath Abu Arqoub, PMP®
• Institution: Bond University

Management Maturity Model (MMM)

• A maturity model is a technique used to assess how well a business or project performs and determines its capability for continuous improvement
• Maturity models may analyze qualitative information
• Models are designed to determine if firms are maturing, meaning they continuously test, improve and expand.

Why a Maturity Model?

• A tool to assess business effectiveness
• Provides examples to improve businesses or processes
• Aids in better investment decisions

Using a Maturity Model

• Benchmarking internal performance: Helps determine the organization's position in its improvement journey to set clear objectives for future investments.
• Catalyzing performance improvement: Reflects best practices, enabling action plans to close performance gaps and improve maturity.
• Creating a common language: Supports knowledge domains to grow into disciplines, leading to consistent, repeatable, and predictable performance over time.

Project Management Maturity Models (PMM)

• PMM models are used to benchmark the best practices of successful project management firms.
• Benchmarking: A systematic management tool for process improvement, measuring and comparing an organization's process, product, or service performance with better performers or those using world-class strategies (best practices).

Flaws of a One-Size-Fits-All Approach

• Organizations differ and operate in diverse industries at various maturity stages.
• What constitutes best practice in one industry may not be appropriate in another.

Evolution of Organizations

• Organizations evolve over time, and their capabilities dictate success.
• Maturity assessment guides positive improvement and addresses weaknesses leading to poor performance.
• Considered as "species" evolving and diversifying in response to external forces and environmental changes.

Project Management Maturity Models (Examples)

• Capability Maturity Model Integration (CMMI): A set of practices to improve processes, leading to a performance improvement system for better operations and performance. Applies to software development, systems engineering, and product development, using a single tool to assess maturity, and guides development of sophisticated processes.

  • CMMI Maturity Levels:

• Initial: Processes are unpredictable, poorly controlled, and reactive.

• Managed: Processes are characterized by projects and are often reactive.

• Defined: Processes are characterized for the organization and are proactive.

• Quantitatively Managed: Processes are measured and controlled.

• Optimizing: Focus on process improvement.

• Portfolio, Programme, and Project Management Maturity Model (P3M3®): Ranks maturity on a five-stage scale built on seven process-related core processes (organizational governance, management control, benefits management, risk management, financial management, resource management, and stakeholder management).

• Organizational Project Management Maturity Model (OPM3): Developed by PMI volunteers (1998-2013), suitable for organizations of any size, location, or practice environment. Aligned with PMBOK methodology.

  • OPM3 Processes:

• Standardize: Structured processes adopted.

• Measure: Data used to evaluate performance.

• Control: Control plan developed for measures.

• Continuously Improve: Processes optimized.

Class Activity

• A research paper "A Management Maturity Model (MMM) for project-based organizational performance assessment" will be explored via group discussions.
• This includes reviewing maturity models from organizations like PMI, AXELOS, and IPMA.
• Tasks: Compare and contrast these models and identify their strengths and weaknesses.
• Prepare slides for a class discussion of the findings.