Project Governance

Project Governance refers to the framework, functions, and processes that guide project management activities to ensure projects are completed successfully and align with organizational goals. It establishes clear accountability, decision-making authority, and oversight mechanisms throughout a project's lifecycle. Project Governance includes: 1. Defining roles and responsibilities: Clarifying who makes decisions, who provides approvals, and who is accountable for various project aspects. 2. Strategic alignment: Ensuring projects support the organization's strategic objectives and deliver intended business value. 3. Decision-making processes: Establishing transparent procedures for key project decisions, including escalation paths when issues arise. 4. Resource allocation: Determining how people, budget, and materials are distributed across projects based on organizational priorities. 5. Risk management: Creating protocols for identifying, assessing, and mitigating project risks. 6. Performance monitoring: Setting up systems to track project progress against defined metrics and KPIs. 7. Quality assurance: Implementing standards and review processes to maintain deliverable quality. 8. Stakeholder management: Defining communication channels and engagement protocols with all project stakeholders. Effective Project Governance provides several benefits: - Increased likelihood of project success - Improved alignment with organizational strategy - Enhanced transparency and accountability - Better resource utilization - More consistent project delivery - Clearer escalation channels for issue resolution For CAPM certification, understanding Project Governance means recognizing how it creates the structure within which project managers operate. While project managers focus on day-to-day execution, governance provides the overarching framework that guides their actions and decisions toward organizational success.

Project Governance refers to the framework, functions, and processes that guide project management activities to ensure projects are completed successfully and align with organizational goals. It est…

Concepts covered: Risk Management, Procurement Management, Project Integration Management, Resource Management, Schedule Management, Project Governance Framework, Cost Management, Communication Management, Project scope management, Project Quality Management, Change Management, Human Resources Management