The Importance of Project Governance in Project Success
(Project Management Tip)
We hear a lot about the importance of project governance and its role in project success, particularly on complex projects. But what is good project governance?
Project governance is about providing a structure around the decision making on projects and to ensure that the project team is delivering the agreed objective.
Often, we see project governance structures, if they exist at all, built around existing organisational approval structures, and rely on the project team to carry out its own assurance on how they are performing.
This is an efficient approach to take, however, issues around probity, self-assurance, and misuse of authority, arise where projects are managed within these types of project governance structures, and the opportunity for diverse thinking is lost.
A good governance structure will draw on the strengths of different key stakeholders involved in the project, and independent third parties where required.
Drawing on this diverse experience and expertise enables projects to identify and plan for various risks and other eventualities that may not otherwise have been thought of. It also provides an opportunity for alternative solutions to be considered from a group that focuses on the bigger picture rather than on delivering.
We live in a rapidly changing world, and the ability to draw on a wider range of experience and expertise is highly important when pursuing project success.
So next time when you are establishing the project governance structure, consider the diversity of key stakeholders involved and the expertise, experience and independence they can provide to your project.
To find out more about Core Project Advisory and the services we can offer, take a look at the Services page on our website, or contact us to discuss your project governance needs.