What Does Project Governance Really Mean?

What Does Project Governance Really Mean?
Project governance is the set of activities and guidelines that determine how a project is planned, executed and managed. It is a framework to help oversee the right course for the project, providing consistency and stability. It defines the activities of an organization and who is responsible for what, including policies, regulations, functions, processes, procedures and responsibilities. The three pillars of project governance are structure, people and information. Project governance requires the right project manager to understand the project goals and tasks needed to get there, and the goals must be clear, reachable and sustainable.

Project governance is a sound process that requires open communications and the ability to share information. Three of the most important roles in project governance are the project owner, key stakeholders and the advisory group. The project owner is the person who represents the organization, while the key stakeholders are those who have a vested interest in the project. The advisory group is made up of those who have funded the project or the end-user for whom the product or service is being created. It is best to keep these key stakeholders at no more than six in order to run the process more efficiently.