The Central Bank of Nigeria (CBN) embarked on its project management transformation journey in 2009 with the establishment of its Enterprise Program Management Office (EPMO). In 2015, CBN engaged iCentra to assess, enhance, and establish a robust EPMO framework. At the time, the Bank’s project management maturity was at Level 1, characterized by ad-hoc processes and limited standardization.
Leveraging PMI’s Organizational Project Management Maturity Model hashtag#OPM3, iCentra collaborated with CBN’s Strategy and Innovation Management Department and key stakeholders to develop capabilities, institutionalize best practices, and create a sustainable system for benefits realization and continuous improvement.
By 2023, an Enterprise Project, Program, and Portfolio Management Maturity Assessment conducted by iCentra confirmed CBN’s advancement to Maturity Level 3. This milestone reflects the successful standardization of project management processes, ensuring strategic alignment and measurable outcomes. It also underscores iCentra’s decade-long partnership in fostering sustainable capacity development within the Bank.
Global Trends in PMO Maturity
The global average PMO maturity level typically ranges between Level 2 and Level 3 on a common five-level PMO maturity scale. Studies, including PMI’s Pulse of the Profession and Gartner’s research, indicate that:
Level 2 maturity is characterized by partial standardization and limited organizational influence.
Level 3 maturity reflects well-defined processes, consistent methodologies, and improved alignment with organizational strategy.
Insights on Achieving Higher PMO Maturity
Reaching higher PMO maturity levels (Level 4 and Level 5) remains a challenge for many organizations due to factors such as resistance to change, lack of executive support, and insufficient resources.
Level 4: Managed – Metrics are used to manage and optimize the PMO’s contribution.
Level 5: Optimized – The PMO functions as a strategic partner, driving organizational value.
CBN’s Global Recognition
In a historic achievement, CBN became the first central bank in the world to join the Project Management Institute’s Global Executive Council (GEC), an exclusive network dedicated to advancing excellence in project management, governance, and strategic execution.
iCentra is proud to have been a trusted partner in designing and implementing scalable enterprise project, program, and portfolio management systems while building institutional capacity for sustained excellence.
Looking to Build a High-Impact PMO?
Does your organization aspire to achieve PMO excellence like CBN? iCentra’s PMO Solutions empower organizations with enterprise PMO setup, project governance, and strategic execution frameworks.
Learn more here: https://youtu.be/lUkw3ZNwRdU
