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This study presents a methodology to systematically assess organizational Project Management (PM) maturity. This assessment is used to measure and compare organization's PM level quantitatively. A 5-level Model is introduced to position and determine an organizations current and relative PM maturity. A total of 38 organizations, including 15 Engineering and Construction, 10 Telecommunications, 10 Software Development, and 3 Hi-Tech Manufacturing companies have participated in this study.This study also suggests a step to estimate the return on PM investment (PM/ROI) on an order-of-magnitude basis. First, regression analysis reveals that the organizational PM level and actual cost and schedule performance data from projects representative of the companies are positively associated. The conceptual PM/ROI calculation procedure is then presented to encourage managers investing in PM processes, tools, and techniques.This research provides a solid and comparative analysis methodology on PM practices which in turn can help managers to improve their PM processes and its effectiveness.