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Excel Vlookup using max

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Last Modified: 2020-11-23
Hi, I am trying to write logic in Excel to look at a column of value based on another value and find the max value in a third column.  I don't know how to incorporate the max function into Vlookup or maybe I should be using a different formula?  

Here's my current formula:
=IF(ISNA(VLOOKUP(N2,$L$1:$M$500,2,FALSE)), "Not Found", VLOOKUP(N2,$L$1:$M$500,2,FALSE))

Here's an example of data below.  My current formula returns what's in column O but I want the results to return the values in P (I hard-coded these values for this example).  The value in cell P2 should be 4 because, of the 3 rows with Section "Material Characterization" under col L, the number 4 is the highest value in col M.

For each of the 6 section name values (col N), I want to find the highest Hidden Residual Risk # value from col M where the section in L matches the section in N.
 

I appreciate any help you can offer.  Thanks, Alexis
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