Project governance framework
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| − | + | The PMI Guide on Project Management defines Project Governance as “the alignment of the project with stakeholders’ needs or objectives”. It is a critical function for the management of stakeholders and furthermore for the achievement of organizational objectives. Project governance provides the project managers and sponsors with a framework on how to make decisions to satisfy both stakeholder needs as well as organizational strategic objectives. A guide by the Association of Project Management (APM) does not only consider single projects but aims to align the organization’s project portfolio to its goals. A paper on a conceptual framework for project governance and the management of project management suggests that it has two key function. The first is to make decisions about which projects an organization should do and by this specify rights and responsibilities of project participants and define rules and procedures for making decisions in the projects. Secondly, project governance has an oversight and assurance function in order to support the organization’s strategy. | |
| + | According to P. Rentz, project governance closes the gap between corporate governance and the actual management of projects. It provides the project managers with more strategic and integrative solutions beyond standard project management methodologies and operationalizes the corporate governance strategy. | ||
| + | There is not one single definition and approach for a framework that can be taken for each and every specific case. This article will define aspects of a framework, which are presented in the literature on project governance. While the APM bases its framework on adhering to different principles, P. Rentz defines a Project Governance Model based on key responsibilities. This article will define elements of a framework for project governance from different perspectives. | ||
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Revision as of 18:10, 10 February 2018
Abstract
The PMI Guide on Project Management defines Project Governance as “the alignment of the project with stakeholders’ needs or objectives”. It is a critical function for the management of stakeholders and furthermore for the achievement of organizational objectives. Project governance provides the project managers and sponsors with a framework on how to make decisions to satisfy both stakeholder needs as well as organizational strategic objectives. A guide by the Association of Project Management (APM) does not only consider single projects but aims to align the organization’s project portfolio to its goals. A paper on a conceptual framework for project governance and the management of project management suggests that it has two key function. The first is to make decisions about which projects an organization should do and by this specify rights and responsibilities of project participants and define rules and procedures for making decisions in the projects. Secondly, project governance has an oversight and assurance function in order to support the organization’s strategy. According to P. Rentz, project governance closes the gap between corporate governance and the actual management of projects. It provides the project managers with more strategic and integrative solutions beyond standard project management methodologies and operationalizes the corporate governance strategy. There is not one single definition and approach for a framework that can be taken for each and every specific case. This article will define aspects of a framework, which are presented in the literature on project governance. While the APM bases its framework on adhering to different principles, P. Rentz defines a Project Governance Model based on key responsibilities. This article will define elements of a framework for project governance from different perspectives. 1
