What is Project Management Governance? Part 2

What is governance? What is Project Governance? What is Project Management Governance? Today, we address Project Governance in relation to a project management method.

Governance and CAM2P™

The reader is asked to reflect on the above definitions in comparison to what have been presented in this book so far. Can one relate how CAM2P™, the simulated project, and this book, have addressed these questions? Since some of the above points have not been addressed enough, or directly yet, the rest of the chapters in this Part will endeavor to deliver any gaps.

The Institute on Governance listed three key principles “authority, decision-making and accountability” (Defining Governance, 2015). CAM2P™ has addressed these through proper structure, well defined authority and accountability throughout the project life span and stages[1], and proper decision-making through the various process and stage gates.

CAM2P™ also place the final approval of funds – the point of no return on the project – after enough work is done (after preliminary engineering) to ensure that the project concept has been developed enough to enhance the chance of success and minimize the chance of failure.

The Project Management Wisdom site, reflected on “critical success criteria”, “project management processes”, “… change and risk management”, and “…project contingencies estimated and controlled …” (Wideman, 2015). Each of these topics have been addressed, or will be addressed, in this book.

  • Project success is a chapter in this part,
  • Project management processes is the organizational project management system discussed in Chapter 8,
  • Change and risk management are also in this part, each with a dedicated chapter,
  • Contingency has been mentioned in numerous places in this book and will be re-visited in the estimating chapter in this Part.

What is being said is this: the author views governance as critical for the success of any endeavor or strategic initiative. Consequently, project and project management governance is embedded in all aspects of the SUKAD Way™ through the Seven Elements of Project Management Maturity™[2], the Customizable and Adaptable Methodology for Managing Projects™[3], and the Four Dimensions of Project Success™[4].

To close, project management governance is about organizational control. It is through how the organization select and approve projects and funds, how to estimate and control, how to manage change and risk, and ultimate how to define and manage success. Yes, success has to be managed.

A better way of saying this might be: success and benefits realization must be delivered through effective and efficient processes, governance, and project leadership.

[1] Part of every Stage Management Plan and Stage Detailed Plan

[2] Refer back to Chapter 8 on the organizational project management system.

[3] Throughout this book

[4] Chapter 28

This article is from our upcoming book. The book is about simulation on the application of a large and complex, capital-intensive project. The article is part 2 of 3, from the Governance Chapter in the book.