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P3O methodology looks at the lifecycle of a portfolio, programme and project and outlines the use of a traditional project-based approach to scoping and set-up of a suitable portfolio, programme and project office model within an organisation.
The core P3O includes checklists for start-up, CI (continuous improvement), reviving and closing down projects. Additionally, it looks at the functions and services performed within P3O, and the techniques and tools (MS EPM, Primavera P6 Enterprise Version etc) used to facilitate them.
It is a framework to maintain and translate high level organisational goals into implementation strategy at the lowest level - from portfolios to programs and projects. It is a way of managing organisational investment into projects using Portfolio approach (borrowed concept from financial world's equity portfolio management approach) with quantifiable measures business benefit KPI mapped to lowest level entity of projects. It helps to assess project's ROI based on the measurable business benefits.
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