PM Solutions Releases Project Management Maturity Model at Project World Boston; Research-Based Tool Helps Companies Evaluate Their Project Management Competency and Identify Action Plan for Improvement.Business Editors BOSTON--(BUSINESS WIRE)--May 23, 2001 PM Solutions, Inc. today unveiled its new Project Management Maturity Model, a research-based assessment tool, at Project World Boston Boston, town, England Boston, town (1991 pop. 26,495), E central England, on the Witham River. Boston's fame as a port dates from the 13th cent., when it was a Hanseatic port trading wool and wine. Having recovered from a decline in the 18th and 19th cent. . Modeled after leading industry standards for project management excellence, the Project Management Maturity Model allows companies to assess how well they are employing project management as well as to identify areas of weakness that could be strengthened. This model was developed using IT industry standards, patterned after the Software Engineering Institute's Capability Maturity Model and using the knowledge areas of the Project Management Institute's Guide to the Project Management Body of Knowledge The Project Management Institute (PMI) published the first Project Management Body of Knowledge Guide as a white paper in 1987 in an attempt to document and standardize generally accepted project management information and practices[1]. . Companies that use the Project Management Maturity Model will be able to develop action plans for improving project management competency COMPETENCY, evidence. The legal fitness or ability of a witness to be heard on the trial of a cause. This term is also applied to written or other evidence which may be legally given on such trial, as, depositions, letters, account-books, and the like. 2. . "Our goal in developing the Project Management Maturity Model was to provide actionable Giving sufficient legal grounds for a lawsuit; giving rise to a Cause of Action. An act, event, or occurrence is said to be actionable when there are legal grounds for basing a lawsuit on it. measures," says Dave Yosua, PM Solutions' Product Integration Manager. "To accomplish this, we needed not only the kind of maturity evaluation that SEI uses, but we needed to combine it with very specific project management practices and disciplines. Consequently, the model we developed is a matrix of maturity levels and project management competency areas." PM Solutions' research arm, the Center for Business Practices, used PMMM PMMM Project Management Maturity Model to assess the project management competency of more than 125 companies. The research produced both good and bad news, said Jim Pennypacker, Director of the Center for Business Practices. "The bad news is that more than two-thirds of companies surveyed scored at the lowest levels of competency in project management," he said. "The average maturity level score was 2.38 on a five-point scale, where five was the highest score obtainable. "But the good news is that PMMM pointed out companies' specific weaknesses, giving them a benchmark against which they could measure their own performance and identify actionable steps to improve their project management competency." "This model is not about measuring maturity for measurement's sake," adds J. Kent Crawford, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of PM Solutions. "This model was built so that organizations can clearly understand the strengths and weaknesses of their project management processes and logically develop a path to the level of competency they require. The beauty of this product is that it allows companies to keep the elements of project management that are working while identifying areas that could be strengthened." Supporting materials being released at Project World Boston include a PM Solutions' white paper on Project Management Maturity and the Center for Business Practices' Benchmark Report on Project Management Maturity. About PM Solutions PM Solutions, Inc., headquartered in Havertown, a suburb suburb, a community in an outlying section of a city or, more commonly, a nearby, politically separate municipality with social and economic ties to the central city. In the 20th cent. of Philadelphia, PA, is a full-service consulting and training organization supporting project management initiatives at Fortune 1000 firms. Since its founding, PM Solutions has distinguished itself by focusing on improving corporate project performance through project office development, streamlining processes, just-in-time training and mentoring programs, and corporate project management implementations. The company's holistic approach holistic approach A term used in alternative health for a philosophical approach to health care, in which the entire Pt is evaluated and treated. See Alternative medicine, Holistic medicine. integrates critical business elements with processes, enabling sound management decision-making decision-making, n the process of coming to a conclusion or making a judgment. decision-making, evidence-based, n a type of informal decision-making that combines clinical expertise, patient concerns, and evidence gathered from . PM Solutions has built its reputation by providing premier service to clients through the most knowledgeable and expert consultants in project management, and by creating innovative and creative approaches to transfer that knowledge. The PM Solutions World Wide Web site can be found at http://www.pmsolutions.com. About the Center for Business Practices PM Solutions' Center for Business Practices (CBP CBP competitive protein binding. ) is a knowledge center created to capture, organize, and transfer business practice knowledge to project stakeholders Project stakeholders are those entities within or without an organization which: a) Sponsor a project or, b) Have an interest or a gain upon a successful completion of a project. to help them excel in their competitive environments in today's rapidly changing business world. The CBP harnesses project management knowledge and expertise and integrates it into all products to deliver the maximum amount of fact-based information to customers. By adding information from external knowledge databases, original research, and other knowledge-based services to internally developed knowledge, the CBP provides comprehensive, accurate, and timely information on the most effective business practices. The Center for Business Practices publishes print newsletters, including the Project Management Best Practices Report and People on Projects, an e-mail newsletter, the Best Practices e-Advisor, and project management books (in cooperation with Marcel Dekker Marcel Dekker is a well-known encyclopedia publishing company with editorial boards found in New York, New York. They are part of the Taylor and Francis publishing group. Initially a textbook publisher, they went to encyclopedia publishing in the late 1990's. ). The CBP also makes information available on its website (www.cbponline.com) through the CBP KnowledgeBank and the CBP Management Bookstore. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion