How does the PM² method help EU-funded projects?

Finland is currently implementing a significant EU-funded development initiative. The Innovation and Skills in Finland 2021–2027 programme has a public funding of over €3.1 billion – and every euro used needs to meet expectations related to results, transparency, and controlled delivery. This is where project management really matters.

What is the Innovation and Skills in Finland 2021–2027 programme about?

The programme brings together three major EU funding instruments: the European Regional Development Fund (ERDF), the European Social Fund+ (ESF+), and the Just Transition Fund (JTF). It covers nine thematic priorities ranging from innovation and green transition to employment, skills development, and social inclusion. Funding is granted by regional councils, Economic Development Centres, and the Finnish Food Authority.

Project implementers include universities, municipalities, associations, and companies across the country. Funding brings with it a host of requirements for all of them, including project monitoring, reporting, cost management, and communication.

Why is project expertise crucial?

Success in an EU-funded project doesn't depend on a good idea alone, but equally on how the project is planned, how changes are managed, and how results are properly reported to the funder.

This is precisely where PM² shines. It was built with the EU context firmly in mind.

PM² – Europe's own methodology

PM² was initially developed by the European Commission and published under an open licence. It was designed specifically for the needs of public sector organisations and EU-funded projects, and its structure supports directly the requirements of EU programmes.

Key benefits of PM² in EU-funded projects include:

1. A clear governance model. PM² defines project roles and responsibilities – from the project manager to the steering committee – supporting both small and large projects. From a funder's perspective, this means clear accountability at every level.
2. Structured planning and change management. Structural fund projects often span several years, and operating environments shift. PM²'s phased lifecycle and change management practices keep projects on track even when the unexpected happens.
3. Reporting and documentation. EU projects require systematic reporting. PM²'s ready-made templates and document structures support this directly – they are not bureaucratic overhead but a built-in feature of the methodology.
4. Monitoring and results. The programme's cross-cutting priorities include sustainable development, gender equality, non-discrimination, digitalisation, and innovation. PM²'s monitoring tools help project teams demonstrate concretely how their work advances these objectives.
5. Scalability. PM² works equally well in a small ESF+ project and a large ERDF investment. It is lightweight enough to adopt quickly, yet comprehensive enough to handle complex initiatives.

Where to start?

PM² is freely available: the PM² Alliance site offers an comprehensive guide as well as PM templates (artefacts), articles, videos, and webinars. A three-tier certification system supports the implementation of the methodology.

In Finland, the implementation of PM² is supported by the PM² Alliance’s regional coordinator, providing training, consulting, and a collaborative peer network for project professionals.

Would you like to share your experiences with EU project management with Finnish professionals? The PM² Finland LinkedIn group is just for you.

In the group, we discuss the application of the PM² method, share current news, and network among project stakeholders, funders, and project professionals.