What does the target/desired maturity level for a function mean?

Thetarget/desired maturity levelfor a function represents the level of sophistication or performance that the organization aims to achieve by the end of a specific evaluation cycle. This maturity level is set based on the organization's strategic goals, resource capabilities, and the PMO's roadmap for growth.

By defining the desired level of maturity, the organization ensures that it has a clear objective for improvement and can track progress over time. Achieving this level requires addressing gaps in processes, people, and technology​​​.