Guide on Project Governance Framework following PMBOK Guide Seventh Edition

Importance: Project Governance Framework is an essential part of project management, providing guidance, decision-making boundaries, and support to ensure that project objectives align with company strategy and goals. It is significant to ensure consistency, coordination, and risk control across all projects.
What it is: It's a set of guidelines and principles on how to manage, govern, and make decisions about projects. It covers aspects like roles and responsibilities, decision-making processes, risk management, reporting, and communication procedures, among others.
How it works: It provides an overall framework that guides the project teams for decision making and project delivery by setting up principles, policies, procedures, roles and responsibilities, and performance measures.
Answering Questions in the Exam: Understand the main components and principles of the project governance framework. Know how project and portfolio management are interlinked and their relationship with governance. Be aware of the decision-making process and how it contributes to successful project management.
Exam Tips: When asked questions on Project Governance Framework, think from an organizational perspective. Understand how the framework can improve project outcomes and support strategic alignment. Always relate the project governance framework to standards, policies, and procedures. Lastly, read questions carefully, remember key project governance principles and apply them to real-life scenarios given in the questions.