“Good corporate governance is about ‘intellectual honesty’ and not just sticking to rules and regulations...”
– Mervyn King, economist
People are fallible, and because of this fact, projects can get out of control. Try as we might, schedules can fall apart and budgets can burst. These things usually happen, however, for some predictable but more importantly preventable reasons. These elements that can derail a project can be predicted during risk management reviews with project managers and program managers. The problems can be avoided by enacting a clearly thought-out and well-communicated governance process.
The truth is that governance happens in projects all the time, and a well thought-out governance process can be a powerful project tool. In this article, we will examine why governance is necessary, where governance is most effective and how we as project and program managers can use governance to powerful effect.
Governance Board, and Project Scope
“The beginning is the most important part of the work.” – Plato, The Republic
Promoting governance is most important at the beginning of projects. The reason for this is simple: All rework is more expensive as projects proceed. The farther along a project is in its lifecycle, the more costly any changes will be. Therefore, setting up a governance board
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