Governance of Project Management

Revision as of 10:39, 22 February 2019

Abstract

It appears that project governance is an ambiguous concept that suffer under a lack of an agreed on, generally accepted definition. This leads to the organisations developing their own understanding or interpretation of the concept, project governance, which fit their individually perspectives^[1]. To investigate a common definition or use of project governance, the concept can be looked at from a bottom view or a top-down perspective. This article will focus on investigating the top-down perspective and look at governance starting at the corporate level and being implemented in project management through governance of project management. At the corporate level in an organisation, governance begins with the Board of Directors defining the objectives of the company and the role of projects in attaining these objectives^[2]. Corporate governance also involves the relationships between the organisation’s board, management, shareholders, and other stakeholders^[1][3]. The link between the corporate governance and the activities of project management within an organisation is called the governance of project management. It ensures that the project portfolio of an organisation is aligned to its objectives and is sustainable and delivered efficiently^[3]. Different frameworks, principles and models has been established to guide project governance in an organisation. The three addressed in this article are; the thirteen principles of project governance which will help an organisation to avoid project failures developed by Association for Project Management (APM)^[3], a guide to project governance framework implementation provided by Project Management Institute (PMI)^[4], and the Project Governance Model for non-profit organisations proposed by Dr. Patrick S. Renz^[5].

^{[6] [7] [5] [2] [3] [1] [4]}

^{[6] [7] [5] [2] [3] [1] [4]}

Project Governance

Corporate Governance

Multiple Corporate Governances

Governance of Project Management

Governance of Portfolios, Programs, and Projects

Implementing Governance in Project Management

Project Governance Framework

13 Principles to Avoid Project Failure

Project Governance Model

Limitations

Annotated bibliography

3-10

References

1. ↑ ^{1.0 1.1 1.2 1.3} Kelly, É. V. (2010). Governance rules! The principles of effective project governance. Paper presented at PMI® Global Congress 2010—North America, Washington, DC. Newtown Square, PA: Project Management Institute.
2. ↑ ^{2.0 2.1 2.2} Müller, Ralf (2011). Project Governance. Volume 12, Issue 5, Upgrade: The European Journal for the Informatics Professional
3. ↑ ^{3.0 3.1 3.2 3.3 3.4} Association for Project Management (2011). Directing Change – A guide to governance of project management. 2nd edition, APM
4. ↑ ^{4.0 4.1 4.2} Project Management Institute (2016). “Governance of Portfolios, Programs, and Projects: A Practice Guide”. PMI
5. ↑ ^{5.0 5.1 5.2} Renz, Patrick S. (2007). Project Governance - Implementing Corporate Governance and Business Ethics in Nonprofit Organizations. Physica-Verlag HD
6. ↑ ^{6.0 6.1} Project Management Institute (2017). A guide to the Project Management. Body of Knowledge (PMBOK guide). 6th Edition, PMI
7. ↑ ^{7.0 7.1} AXELOS (2017). Managing Successful Projects with PRINCE2. 6th edition, TSO (The Stationery Office)