We’re making changes to both the Standard for Project Management and A Guide to the Project Management Body of Knowledge (PMBOK® Guide) to reflect the range of different project approaches and your need for flexibility. We’ve heard questions about how the 12 principles evolved for the Standard for Project Management and how we developed the Guide to the Project Management Body of Knowledge. We’re here to answer them.
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The importance of governance in Portfolios, Programs, and Projects (3P) is reflected in part by the development of standards for governance (PMI, 2016) as well as by the increasing attention being paid to governance in management/academic literature, and in practice. At the same time, organizations increasingly aim to improve their innovation capabilities, enabling them to survive in today’s dynamic, competitive environment. However, there is little guidance in research literature on whether and how 3P governance can be designed to support and promote innovation. The escalating importance of project delivery in organizations, especially for innovation, further highlights the need for better understanding of the relationship between governance, innovation, and success in 3P. Governance is of increasing importance for 3P success from an organizational perspective, and multiple studies have highlighted the need for it to be appropriate for the environment. Large-scale studies show that effective oversight by executive management promotes and nurtures innovation. However, some studies also suggest that this could also cause negative tension, as innovation requires flexible and adaptable approaches. To better understand innovation as applied to 3P, and how governance approaches can be tailored for best outcomes, we conducted an in-depth, exploratory, multiple-case study. This report outlines the background, our research question, our methodology and our main findings. We also identify the outputs of this research that are designed to disseminate the findings to both academic and practitioner audiences. We emphasize our implications for practice, providing guidance to industry for the development of governance approaches to best support innovation in 3P.