A P3O model provides the structure, governance, functions and services required for defining a balanced portfolio of change and ensuring consistent delivery of programmes and projects across an organisation or department. It could successfully take many forms, all of which are explored within the P3O guidance – from a single all-encompassing physical office to a complex model made up of a permanent Portfolio Office supported by permanent hubs and temporary Programme/Project Offices.
P3O is aligned to PRINCE2, MSP, and M_o_R and brings together a set of principles, processes and techniques to help deliver projects or programmes within an organisation or department.