Project Governance

Project governance refers to the framework, functions, and processes that guide project management activities to ensure projects align with organizational objectives, meet stakeholder requirements, and deliver expected benefits. It encompasses the oversight, control, and support mechanisms established to manage projects effectively from initiation to closure. Key components of project governance include:

Governance Structure:

• Steering Committee: A group of senior executives and stakeholders who provide strategic direction, approve major project decisions, and ensure alignment with organizational goals.
• Project Management Office (PMO): A centralized unit that provides support, methodologies, standards, and tools for project management across the organization.
  • Supportive: Provides consultative support to projects, including templates, best practices, and training.
  • Controlling: Enforces project management standards, policies, and procedures, exerting a higher degree of control over projects.
  • Directive: Directly manages projects, providing project managers who report to the PMO rather than to functional departments.

Roles and Responsibilities:

• Project Sponsor: An executive responsible for championing the project, securing funding, and ensuring that the project meets its objectives.
• Project Manager: The individual responsible for planning, executing, and closing the project, managing the project team, and ensuring that the project delivers its intended outcomes.
• Functional Manager: Oversees a specific department or function, such as marketing, finance, human resources, or production.
• Project Team: A group assembled to achieve specific project goals and objectives within a defined timeline.
• Project Customer: An individual, group, or organization that has commissioned the project and will benefit from its deliverables.
• Stakeholders: Individuals or groups affected by or involved in the project, providing input and feedback throughout the project lifecycle.

Processes and Procedures:

• Project Charter: A document that formally authorizes the project, outlining its objectives, scope, stakeholders, and governance structure.
• Stage Gate Reviews: Formal checkpoints at the end of each project phase to assess progress, make decisions, and authorize the continuation of the project.
• Change Control: Processes for managing changes to the project scope, schedule, and budget, ensuring that all changes are reviewed, approved, and documented.

Performance Monitoring and Reporting:

• Key Performance Indicators (KPIs): Metrics used to measure project performance, such as budget variance, schedule variance, and quality metrics.
• Regular Reporting: Scheduled reports to stakeholders on project status, progress, risks, and issues, ensuring transparency and accountability.
• Audits and Reviews: Independent assessments of project performance, compliance with governance standards, and identification of areas for improvement.

Risk Management:

• Risk Register: A tool for documenting identified risks, their impact, likelihood, and mitigation strategies.
• Regular Risk Reviews: Ongoing assessment and management of project risks, ensuring that mitigation plans are implemented and effective.

Quality Assurance:

• Quality Management Plan: A document outlining the quality standards, criteria, and processes to ensure project deliverables meet the required standards.
• Quality Audits: Periodic reviews to ensure that project processes and deliverables comply with defined quality standards.