Project management (PM) competence is a very important ability for construction companies and for the successful realization of their projects. It has always been considered that, since construction is a project-based activity, most of construction companies would be well prepared to adopt and apply PM, mastering it. However, construction projects have many failures causing serious consequences to the organizations and most of these failures are related to project management deficiencies. Then, it is very important to achieve these PM capabilities, which requires a suitable organizational readiness for adopting PM, that is, the necessary cultural, environmental, and organizational conditions. This research addresses the organizational readiness of construction companies by proposing a framework to assess it, which is based on factors that are considered necessary to facilitate and assure the adoption of PM capabilities within an organization. These factors were identified through a literature review and an evaluation model was designed with them. This framework was applied to four domestic construction companies and one mining services company. The main result of the evaluation showed that these companies have a low level of organizational readiness, although they recognize the importance of adopting PM capabilities. In fact, they do not count with the appropriate conditions to promote and demand a formalization and standardization of the PM function at the organization. This condition produces that many project managers of these companies manage their construction projects based on their own knowledge and experience only, without a real PM organizational framework and support. Results obtained in this research allow companies to know how to evaluate their PM organizational readiness including their strengths, weaknesses, and opportunities for improving their current situation.