What is Project Governance and why is it important?
Posted on 25th April 2019 at 11:37
To start with, Project Governance is not the same as Project Management. Here is a definition.
According to the Association for Project Management “Governance refers to the set of policies, regulations, functions, processes, procedures and responsibilities that define the establishment, management and control of projects, programmes and portfolios.”
Project governance contains all they key elements that lead to a successful project. It is, however, important to tailor these elements to the needs of the company as project governance needs to be aligned with the business’ governance. It provides the framework for project management. Project management on the other hand focuses on delivering the project within budget, on time and at the right quality
So, why is it important to set up a Project Governance framework?
Governance in project management gives a structure to the whole process. It ensures that the project is aligned with business goals; and the right project is undertaken at the right time. During the lifetime of the project, good governance safeguards that the project stays on target, reducing the risk of failure.
Important considerations for successful Project Governance
In order to ensure the success of your projects, it is important to have the following aspects in place:
A clear reporting structure
Who is responsible for which decisions? Who receives which reports? Do the decision makers have all the information they need?
A solid plan
This includes the time plan, but also how to manage resources, risk, change and quality.
Your stakeholders are anyone affected by or participating in the project. The more engaged the relevant parties, the easier they are to work with. You can achieve this by keeping people informed and involved.
Clear roles and responsibilities
These avoid miscommunication and duplicating of work.
Implementing lessons learned
Striving for a culture of continuous improvement and trying to avoid frustration by repeatedly making the same mistakes
It is also a part of project governance to decide the conditions under which a project needs to be abandoned.
How Green Giant Consulting can help
We provide help with designing, building and implementing an appropriate level of project governance. This will ensure that you achieve successful outcomes without placing undue burdens on your organisation.
If you would like to talk to us about your projects, please get in touch to book a complimentary initial 2-hour consultation. You can call us on 0844 259 6210 or visit our Contact page.
Share this post: