EU urban policy has consolidated around mission-oriented, place-based governance: the New Leipzig Charter (2020), Urban Agenda for the EU, Cohesion Policy 2021–2027 (incl. the 8% ERDF earmark for sustainable urban development), and the European Urban Initiative (EUI). The Cities Mission (112 ‘Mission Cities’) with NetZeroCities as platform marks a step-change: Climate City Contracts, investment plans, and the EU Mission Label are creating pipeline discipline and attracting blended finance. Digital interoperability has matured via Living‑in.EU’s Minimal Interoperability Mechanisms (MIMs Plus v7.5/v8.0), enabling replication of solutions across cities and supporting digital twins, data spaces, and open APIs. Yet implementation gaps persist: (a) pilot‑to‑scale lock‑in (‘projectification’), (b) fragmented procurement and vendor lock‑in, (c) capacity constraints in small/medium cities, and (d) weak benefits realisation and equity metrics in programme dashboards. PM² offers a pragmatic baseline for public‑sector project/programme/portfolio governance. When paired with benefits management and MIMs‑aligned procurements, it can translate mission goals into durable, institutionalised outcomes.