Project Management

5 Levels of Project Financial Management Maturity [Infographic]

From the The Money Files Blog
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A blog that looks at all aspects of project and program finances from budgets, estimating and accounting to getting a pay rise and managing contracts. Written by Elizabeth Harrin from GirlsGuideToPM.com.

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Categories: financial management


I put this infographic together to show the various different levels of project financial management maturity, as outlined by the P3O guidance from AXELOS. My view is that most companies should be looking to aim for Level 4. Level 5, with the implications that you are using Monte Carlo simulations and other types of advanced estimating tools, is probably overkill for most smaller projects or businesses without the exposure to risk that this helps mitigate. What are your thoughts? Is Level 5 where we should all be heading?

If you’d like to read more about the different levels, you can in this article.

Posted on: November 16, 2017 08:59 AM | Permalink

Comments (7)

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Good one Elizabeth, thanks for sharing. Its important to perform gap analysis periodically and rank the maturity level against different processes. This one is a good reference.

Simulations are indeed a great way of understanding and visualizing background data processes of each scenario. Major problem which is encountered in project estimation and analysis is, we can never get all the variables when starting a project but thanks to god after experience we get to know what major variables are there which effect a project's success.

I suspect you would be hard pressed reaching higher maturity levels in financial management, without matching the maturity in other areas.

Thanks for sharing.

Agree with you, level 5 is the mature organizational project management and it is must be targeted.

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