Project governance allows teams to deliver projects on time and within budget while keeping in mind client expectations. It works on a framework of best practices, roles, and governance models. In this article at Project Management Qualification, learn the basics of project governance.
Foundational Features of Project Governance
Project governance is a framework that streamlines the project decision-making process. It focuses on the rules and responsibilities, policies and procedures, and functions and processes. Find out here the basics of project governance:
Foundational Blocks: It creates the basic structure and ecosystem for projects as well as the organization. The top leaders create a vision that the project managers need to accomplish through the teams. People are the second tier of the project governance block. To allow the project managers and their team to achieve those goals, you must be clear and specific with your expectations.
Roles That Set the Tone: Project owners are business representatives. However, they are not necessarily the project manager. Project managers report to them at times.
The project board has all the chief stakeholders. They are either the sponsors, customers, or demand suppliers. For effective project governance, limit the committee strength to just six. Also, the project board must be separate from the central business committee to fast-track approvals.
The group of advisors is the other stakeholders that are not the prime decision-makers but are equally relevant.
The Governance Model: The project managers need to ensure that the project governance model is aligned with the corporate business model. Too strict, and the stakeholders might resist, too lenient, and the stakeholders feel disengaged. While the project owner oversees the business case and funds, the portfolio board approves the fund releases. The project board approves the critical documents, but the project manager makes the decisions for the team.
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