Governance Flashcards

1
Q

Components of Project Governance

A
  1. Portfolio Direction
  2. Project Sponsorship
  3. Project Management Effectiveness & Efficiency
  4. Disclosure & Reporting
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2
Q

Portfolio Direction Components includes

A
  • Is portfolio aligned with key business objectives
  • Is project portfolio prioritised, refreshed, and maintained
  • Does the organisation discriminate correctly
  • Does the organisations engagement with customers and sources of finance
  • Is the portfolio consistent with organisations capacity
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3
Q

Project Sponsorship Component includes:

A
  • Do all major projects have a competent sponsor at all times?
  • Do sponsors devote enough time to the project?
  • Are sponsors accountable?
  • Do project sponsors provide clear and timely direction and decisions?
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4
Q

Project Management Effectiveness & Efficiency Component includes:

A
  • Clear KPI and Decision Making?
  • Board assured?
  • Are PM encouraged to develop outcomes?
  • Are key governance roles in place?
  • Is authority delegated?
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5
Q

Principles of Governance Component includes:

A
  • Having clear roles and responsibilities
  • Approved project plans
  • Project Board agrees
  • Having a realistic Business Case
  • Board decides when a project audit is required
  • Consistent and agreed status reporting
  • Continuous engagement with stakeholders
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6
Q

Elements of Good Methodologies

A
  • Having a process and a defined structure for each stage of the project life cycle
  • Creating an organisational structure with defined roles and responsibilities
  • Producing and following templates for documentation
  • A guideline to adapt methodology to different situations
  • Creating, following and continually optimising ‘how-to’ policies and procedures
  • Standard report structures
  • Information management systems to capture and share lessons learnt
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7
Q

Benefits of Methodologies

A
  • Consistent terminology
  • A common understanding of the responsibilities associated with roles
  • Consistent documentation across projects
  • Structure for development of new project managers
  • Greater mobility of staf between projects, locations, organisations and industries
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