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.