Projects, like anything that involves many people working together, demand governance. Effective project governance in an organization ensures that the projects run smoothly concerning structure, people, and information. So, why should you, as a manager, include governance in project management methods? This article at IT Toolkit explains how to prepare actionable plans for project governance.
Significance of Governance in Project Management Methods
“Project governance is made up of the practices, steps, strategies, and decisions used to direct project execution,” explains the author. To achieve expected technical or business outcomes, governance in project management methods must include processes such as:
- Change management
- Issue management
- Communication management
- Resource management
- Risk management
- Quality control
- Status reporting
- Procurement
- Project closure
How to Prepare Actionable Plans for Project Governance
A well-defined governance structure increases a project's chances of success. Here are some tips you must follow to create a robust project governance structure:
- Create a governance plan format that is flexible. Consider different project sizes and their complexities while developing an action plan.
- A Governance framework must be clear and concise and include key governance variables—financial management, project communication, resource management, and other related factors.
- Develop specific procedures and provide solid justification for each component’s inclusion and exclusion.
- Seek stakeholder approvals and buy-in.
Furthermore, while developing a governance framework, answer the following questions:
- What are the goals and objectives of the current project?
- What are the expected governance outcomes?
- Who are the stakeholders, and what are their roles and responsibilities?
- Are governance procedures necessary? How will they contribute to project success?
Purpose of Governance in Project Management Methods
- Governance in project management methods helps stakeholders make strategic decisions and manage project oversight as the timeline unfolds.
- A project governance framework allows you to outline roles and responsibilities among key stakeholders.
- It ensures a single point of accountability.
- The governance framework is highly helpful in limiting team micromanagement and empowering employees.
To read the original article, click on https://www.ittoolkit.com/articles/project-governance-plans.