Dedicated project governance stream -
project management governance models Source:
Choose the right project. In today’s turbulent environment organisations are advised to adopt a flexible, complementary and collaborative approach to project governance to gain most benefits from projects they initiate. Such an arrangement would enable organisations to realise value from projects instead of restraining their contribution by emphasising project control.
PROJECT MANAGEMENT GOVERNANCE MODELS RELATED ,
Deliver projects efficiently. Project governance requires the alignment of project activities with organisational activities. It can therefore be viewed as a set of formal principles, structures and processes for undertaking and managing projects within the broader principles of corporate governance.
Project governance is the framework which ensures that the project has been correctly conceived and is being executed in accordance with best project management practice and within the wider framework of the University's governance processes.Project governance is not about micro-management, rather it is about setting the terms of reference and operating framework, defining the boundaries and ensuring that planning and execution are carried out in a way which ensures that the project delivers benefits.Effective project governance is about ensuring that projects deliver the value expected of them. An appropriate governance framework helps save money by ensuring that all expenditure is appropriate for the risks being tackled. Peter Weill has been studying project governance for years. Weill is Chairman of the Center for Information Systems Research and Senior Research Scientist at MIT's Sloan School of Management. In his epic MIS Quarterly Journal article in March 2004, "," he said IT organizations with good governance practices have "up to a 40 percent greater return than their competitors for the same IT investment."The 46 core templates are divided into two groups, Basic (18 templates) and Advanced (28 templates). Basic templates define the core set of processes all project managers need to understand. Advanced templates focus on more complex project governance, work breakdown structure, scheduling, performance reporting, and program management issues.Every CIO needs a solid governance strategy that incorporates a set of robust processes enabled by a solution that is proactive, predicts key indicators for project success, and promotes teamwork among key stakeholders. If your IT organization is experiencing project governance challenges, and you are not willing to accept a 25 percent to 35 percent project failure rate as the norm, heed the lessons learned by the GTA.