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P3O® is based upon the principle of developing a standardised framework in which to model projects from, to ensure that projects add business value and are aligned with the business’s objectives. A successful P3O® model encompasses and provides:
Governance - projects should be meticulously scrutinised to assess their business value and whether they should be continued or stopped immediately
Transparency - ensure that decisions are made publicly and based upon justified and informed data
Delivery Support - encourage consistency and delivery of punctual projects
Accountability - all decisions and activities should be traceable to ensure individuals take responsible actions
Reusability - lessons and knowledge gained between projects should be exchanged between departments and within the portfolio
Traceability - document the transformational changes and project operations
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