This research has studied the maturity of PM in the construction industry of developing countries; in the course, the research has also identified two major gaps in the existing maturity models and, proposed a PM maturity model to address the gaps and adapt it to the developing countries context. Using the model, maturity assessment of contractors in Ethiopia is undertaken and, low level of PM maturity (Informal practice of the basic processes) is found. Further, the research found ISO certified contractors' PM maturity to be higher than those which are not. Similarly, the PM maturity of contractors which took part in Capacity Building Program is found to be higher than those which did not take part .Likewise, Road contractors PM maturity is found to be higher than Building contractors. Moreover, the research found higher maturity level for material, procurement, cost, financial, time, and human resource management. Risk and safety management are found to be the least matured PM areas.