A Centre of Excellence (COE) is a specific P3O model primarily focused on developing, maintaining, and embedding portfolio, programme, and project management standards across an organization. Its key function is to be the central source of best practices, guidance, and assurance. The COE model provides the necessary frameworks, methodologies, and tools to ensure a consistent and high-quality approach to managing change initiatives, which directly corresponds to the role of a "standards office".

A. Organization Portfolio: This refers to the collection of all programmes and projects an organization undertakes to achieve its strategic objectives, not the office that sets standards.

B. Hub Portfolio: This is a type of P3O office that supports a specific department or business unit, which is a more decentralized model than a central standards office.

C. Programme: This is a temporary organizational structure created to manage a set of related projects and activities to deliver strategic benefits, not a standards-setting body.

1. AXELOS. (2013). Portfolio

Programme and Project Offices (P3O). The Stationery Office.

Section 2.3.2

P3O Models

Page 14: Describes the Centre of Excellence model as being focused on "developing and owning the P3M methods and standards" and providing "standards

assurance

training and tools". This directly defines it as a standards office.

Table 2.1

Summary of P3O Models

Page 14: Explicitly lists the focus of a Centre of Excellence as "Standards

assurance

training and tools".