Developing the Practice of Governance is the Association for Project Management’s contribution to the Infrastructure and Projects Authority’s Project X to identify the real-world issues that affect projects and programmes... read more.
What is governance?
Definition
Governance is the framework of authority and accountability that defines and controls the outputs, outcomes and benefits from projects, programmes and portfolios.
The mechanism whereby the investing organisation exerts financial and technical control over the deployment of the work and the realisation of value.
Definition from APM Body of Knowledge 8thedition
Empowering
Governance empowers project professionals to execute their responsibilities by defining delegated limits of authority and establishing effective escalation routes for issues and change requests. Good governance also calls for the roles and responsibilities of the team and wider stakeholders to be clearly defined.
Governance provides confidence to the board of directors/trustees that investments in projects, programmes and portfolios are being well managed.
When governance is working well, it provides sufficient reporting and control activities to ensure that the sponsor and other senior leaders/stakeholders are kept informed of progress.
Assurance provides confidence to the governance board that the project, or wider programme or portfolio is on track to deliver the intended benefits.
- Assurance is independent, objective and proportionate to the work.
- Assurance is targeted where the greatest risks exist.
Watch: Governance, an enabler of project success
Governance board
A governance board is a body that provides sponsorship to a project, programme or portfolio. The board will represent financial, provider and user interests. Members of a governance board oversee deployment and make decisions through the chosen life cycle. Alternatively called steering committee, steering group, project board, programme board etc.
The sponsor plays a key role in establishing not only the structure of the board, but also its culture and working practices. Sponsors often chair governance boards.
Related reading
Good governance is the critical success factor in delivering successful outcomes. But how much is enough? Too much and you can stifle innovation and personal accountability; too little and anarchy can pervade... read more.
The only reason organisations exist is to meet the needs of stakeholders. Sometimes this can be a very limited group of stakeholders such as the executive management group, or the shareholders/owners... read more.
When asked about governance of projects, many of us think immediately of overly bureaucratic and long processes to get approvals... read more.
This study investigates the relationship between project governance and project success... read more.
It has been identified that a project needs to be governed from concept all the way through to delivery in order to be successful... read more.
APM Body of Knowledge 8th edition
The APM Body of Knowledge is a foundational resource providing the concepts, functions and activities that make up professional project management. It reflects the developing profession, recognising project-based working at all levels, and across all sectors for influencers, decision makers, project professionals and their teams.
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