Compliance Projects: Fragile, Please Handle with Care!
Compliance projects involve implementing change within an organization—or more broadly, in a social setting—to confirm to rules, laws, policies and standards of governance that may be imposed by regulatory bodies and government agencies.
Examples of compliance projects range from implementation of employment laws to setting up processes and structures for meeting and reporting statutory tax and audit requirements to ensuring compliance with industry standards such as health and safety regulations.
Compliance projects differ from regular projects. While regular projects are triggered by a choice or a necessity based upon some business imperative or aspiration, organizations implementing compliance projects have little choice but to fall in line with imposed requirements and to execute appropriate projects. By their very nature, compliance projects should be regarded as strategic—as non-compliance could lead to far-reaching implications for business survival and continuity management.
Challenges and problems specific to compliance projects
Given their nature, compliance projects pose unique challenges for project management…
1. Unconventional PLC. Compliance projects typically have a project lifecycle (PLC) that may not fit with conventional PLCs. Instead of the typical cycle of business requirements, solution design, execution and handover,
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