Project governance is a term that is used to describe a management framework that will guide the decision-making during the project execution. It is a very important thing to have in any project as it will provide you with framework for accountability as well as responsibility when implementing projects with large capital investments. The project governance structures which are used in the decision making process must be robust, logical and also repeatable so that these can guide your organization’s capital investments over the long term. It gives the organizations a very structured mechanism through which they can conduct the business and get the projects accomplished. It can also be a good guiding mechanism for organizations that have a problem with managing change. There is no doubt that project governance is a fairly complex management concept and businesses can as a result hire project governance consulting services to help them with the implementation of this framework.
In the absence of any project assurance framework, businesses might find themselves grappling with a lot of problems such as mismanagement, lack of accountability, lack of responsibility, open-ended deadlines and many other fraudulent activities. The governance framework imposes some semblance of order and repeatable system into the implementation of the organizational projects. Project governance consulting is, therefore, key to the control as well as the success of any project.
Developing a Project Governance Framework
The right project governance framework should allow your project to move ahead and be fluid. The last thing you want during the project implementation is something which is riddled with too much red tape, bureaucracy and other rigidities which hinder successful implementation. Once you have a framework in place, you do not have to worry about the need to scrutinize details frequently. The process becomes a systemized and automated procedure which delivers the results. Ross Garland
A good framework will be a robust and logical process which is also repeatable in all aspects of decision making when it comes to handling those projects. It is also generally advisable that the framework is very simple and also straightforward. When drafting the project governance framework, it is important for the project consultants to factor in the vision as well as the objectives of the business since the framework needs to align to that.
A good project governance consulting company will analyze the governance processes which should be implemented in the business and then measure them against the business value that you hope to unlock during the implementation and monitoring of these. The framework should be aligned with the overall business strategy and as a result, it should be business oriented. It should account for the larger picture and not just focus on the technical aspects of the project.
Project framework can also come with the Project Office or p3o assistance. This refers to a system that guides your business on the establishment, development and maintaining of a decision making structure for the business at all levels when the business is managing change. It generally offers an enabling management environment where organizations can successfully manage change.