The Framework of Project Governance

Revision as of 16:35, 12 February 2018

Abstract

Project governance is the establishment of organizational comprehension and circumstances under which delivering and organizing successful projects.^[1] Establishing project governance for all projects is an essential element in defining responsibilities and accountabilities in organizational control. Project governance provides a framework for consistent, robust and repeatable decision making which is the governing factor of corporate capital investments. Hence, this offers a structured approach towards assuring businesses to conduct project activities, "business as usual" activities, as well as organizational changes.^[2] Project success is the primary objective of all projects; thus the systematic application of suitable methods and a stable relationship with project governance is of vital importance to reach an optimal project success.^[3] According to the research article "Project Governance – The Definition and Leadership Dilemma"; a majority of authors on project governance have a background in project management, where they attempt to create the project governance framework through a bottom-up approach. Due to a variety of projects in the industry, the range of stakeholders interest, different values and types, and complexity spectrum, the bottom-up strategy has its limitations when providing concise guidance to managers when executing and enforcing project governance.^[4] Based on these observations, the objective of this article sections into three parts, firstly the big idea of project governance will be investigated including the three pillars of project governance. Secondly, practical guidelines of the project governance framework will be illustrated together with the core principles. In conclusion, the structure of limitations concerning the bottom-up approach will be analyzed.

Introduction

Project Context

Areas of Organizational Governance

Big Idea

The background of project governance will be explained including the three pillars of project governance.

Three Pillars of Project Governance

Structure

People

Information

Practical Guidelines

Practical guidelines in relation to the six core principles of project governance.

Core Principles

Limitations

Limitations of the framework will be discussed.

Reference

1. ↑ Rod Beecham. (2011). Project Governance : The Essentials. IT Governance Ltd
2. ↑ Xuan Liu and Hai Xie. (2014). Pillars and Principles of the Project Governance. Trans Tech Publications. http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.835.6802
3. ↑ Werner Robbert Titus DEENEN. (2007). Project governance - phases and life cycle. Universitaria Press Craiova. http://www.mnmk.ro/documents/2007/2007-24.pdf
4. ↑ Michiel C Bekker. (2015). Project Governance – The Definition and Leadership Dilemma. Procedia - Social and Behavioral Sciences. http://findit.dtu.dk/en/catalog/2279869142