Sept 2009 - OTC launches Project Risk Management Maturity Model

OTC's new model, PRM³, has been created to complement the existing Earned Value Management Maturity Model. It is based upon the structure of the Office of Government Commerce (OGC) Project, Programme and Portfolio model (P3M3). At the summary level, PRM³ contains 18 perspectives in four groups (Organisation, Execution, External Stakeholders and Environment) which are assessed against five maturity levels.

The aim of PRM³ is to establish current and target levels of an organisation's Risk Management maturity. Each perspective is broken down into a series of attributes covering areas such as strategy, root causes, fallback planning, modelling and risk retirement. These attributes facilitate a more detailed assessment that can validate the summary scoring and identify specific strengths and weaknesses, to indicate where improvements need to be made to reach the target levels.

If you would like to discuss how PRM³ could be used within your organisation, contact us now.