Project management Governance

IT governance is a framework that ensures your organisation's IT infrastructure supports and enables the achievement of the corporate strategies and objectives. 

Project management governance: The governance of project management concerns those areas of corporate governance that are specifically related to project activities. Effective governance of project management ensures that an organization’s project portfolio is aligned to the organization’s objectives, is delivered efficiently, and is sustainableIt is important to note that there is a difference between governance of individual projects and governance of project management. The former concerns how a specific project is governed and the latter concerns how the project management capability of the organization is governed as a whole.

Methodologies: PRINCE2 , Agile, MSP (managing successful progrmmes), MoV (management of value), PMO, PMBOK (The Project Management Body of Knowledge )

Best management practices

1.  Alignment to organizational objectives: what is important is that each and every project is able to demonstrate (typically through its Business Case) its contribution to the organization’s objectives. It enables effective decision making. It keeps projects outcome-focused rather than activity-focused. PRINCE2 addresses the alignment to organizational objectives element through the Business Case theme, which in turn is driven by the business justification principle. The Business Case theme requires that a project must have a formally documented and up-to-date Business Case. The Business Case defines the reasons for the project, which ‘should be linked to the organizational context and should explain how the project will enable the achievement of corporate strategies and objectives’. The business justification principle includes the concept of ‘continued’ justification. This means that it is not enough to assess the alignment to organizational objectives only when the project first starts; this should be done all the way through its life.
2.  Accountability:  direct chain of accountability from the most senior responsible person all the way down to the individuals responsible for undertaking work on behalf of the organization. This chain is often referred to as the golden thread. The golden thread not only needs to be based on an unbroken chain from top to bottom, but it should also be clear to everyone in that chain what their authority is and which powers are reserved for higher levels of authority. The purpose is to ensure effective decision making by defining at what level of the organization the various decisions should be made. PRINCE2 addresses the golden thread of delegated authority through the organization theme, which in turn is driven by the define roles and responsibilities principle and the management by exception principle.The management by exception principle requires that a project has ‘defined tolerances for each project objective to establish limits of delegated authority’.
3.  Reporting: An essential element of good governance is that those who are delegated authority should:

■ Periodically report progress against the responsibilities delegated to them (their accountabilities)

■ Report if they are unable to meet their accountabilities within the authority they have been granted

■ Report if there are any conflicts of interest that may affect decisions and actions they undertake using the authority they have been granted.

The frequency, content and format of reporting should be agreed at the time when authority is granted.

PRINCE2 addresses the reporting element through the progress theme, which in turn is driven by the management by exception principle. The purpose of the progress theme is to establish mechanisms to monitor and compare actual achievements against those planned; provide a forecast for the project objectives and the project’s continued viability; and control any unacceptable deviations.

• Time-based reporting involves reporting progress against the agreed plan at periodic intervals, such as weekly and daily. This typically involves producing and issuing Checkpoint Reports and Highlight Reports.
•  Event-based reporting involves reporting specific information based on certain events, such as when completing a stage, raising a new risk, a request for change or exceptions. This typically involves producing and issuing End Stage Reports, Issue Reports and Exception Reports.

1. 4. Independent Assurance: Assurance is the activity of reviewing whether objectives will be met.It is an independent check that the structure and systems put in place are adequate to fulfill the responsibilities that have been delegated and that decisions and actions taken have been in accordance with the authority granted.

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