Final answer:
Firms at the lowest levels of project management maturity models usually lack standardized processes and rely heavily on individual efforts. At the highest levels, firms have sophisticated, optimized project management systems and can attract financial capital due to the availability of comprehensive business information. This growth in maturity aligns closely with the firm's ability to attract investment and handle projects strategically.
Step-by-step explanation:
The student is asking about the project management maturity models and wants to understand the characteristics of firms at the lowest and highest levels of these models. Firms at the lower levels of the project management maturity models such as ESI, SEI, Center for Business Practice, and Kerzner, typically lack formal processes and may have ad hoc project management practices. There is often a reliance on individual heroics, and the firm's strategy may not be clearly defined, making personal knowledge of managers and their plans critical.
On the other hand, firms at the highest levels of maturity have well-defined, repeatable, and optimized project management processes. There is a strategic approach where information is readily available regarding the company's products, revenues, costs, and profits. These firms are attractive to external investors like bondholders and shareholders, who are willing to provide financial capital even without a personal relationship with the management. Moreover, these firms typically show continuous improvement practices, strong alignment between projects and organizational strategy, and a capacity for measured risk-taking.
In general, firms' advancement in project management maturity models correlates with their ability to attract investment and demonstrate predictable, profitable outcomes through refined processes and strategic planning. This evolution of a firm from lower to higher levels of project management maturity typically represents a shift from an individualistic and reactive approach to a standardized and proactively managed business environment.