What Is Corporate Governance & How Can it Impact My Project?

ProjectManager.com

While making money is the overriding mandate of any for-profit enterprise, each individual organization is governed by its own set of standards and practices. Those standards and practices are called corporate governance, and they are going to influence your project. All these factors are counted and calculated into corporate governance. Therefore, if you don’t know about corporate governance, you better learn what it is and what it can do to your project management.

The Three Things Every Project Manager Must Know about Project Governance

Ron Rosenhead

It covers the very important topic of project governance. Project Governance is often seen as getting in the Way. Good Governance Adds Value. But good governance is not about meddling. Project governance is an essential discipline. So, if you had to know just three things about project governance, what would they be? Good Governance Sets Direction. This is a governance role. Good Governance Makes Decisions. That is governance.

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Nudges might lead to better project governance

Kiron Bondale

If a survey of teams was conducted to find out what they hated the most about working on projects, governance is likely to rank fairly high. Ask a group of project managers working for a large organization the same question and governance is likely to receive the most votes.

Government Lessons in People Over Process

Leading Answers

I was working for IBM at the time and was able to persuade my account manager to pitch the approach on one of our government projects. We were all set for a big client success and who better than the British Government for good publicity! Something I was not aware of at the time is how the career development process works within the government. Opportunities to influence the change initiative.

Governance and Estimating

Herding Cats

If your business is not subject to any external governance process, you’re free to spend your money as you please. But you’re not free to suggest your approach is applicable to those who are governed by external frameworks of spending and accountability for that spend, without a testable confirmation this idea doesn’t violate those governance principles. Governance includes: Responsibility for a specific duty, task, or decision. Authority to influence behaviours.

Project Governance: Establishing an Effective Steering Committee

Strategy Execution | PMO Perspectives

Within the project management community, the concept of governance is seen as a fundamental project control, which is easy to grasp in principle. Getting the governance piece right requires insight and at times a few honest conversations about roles and responsibilities. Unfortunately, it’s not uncommon that I see projects with one of the following dysfunctions in the governance area: It’s unclear to the project manager who the sponsor is. Who influences the decision-makers?

Impacts of traditional project funding models on agile delivery

Kiron Bondale

A key enterprise partner is the Finance department and the organization’s model for project funding will have significant influence over successful agile delivery. Agile Project Portfolio Management agile project management Change management governanceIn one of my previous articles I’d written about the need for change across multiple areas of an organization when undertaking an agile transformation.

2018 153

How good are you at starting off your project?

Ron Rosenhead

I came across an interesting report published by the National Audit Office (NAO) – which exists to provide independent opinion and evidence to assist Parliament and hold government to account. We are therefore re-focusing our studies earlier in the project lifecycle to better assess the quality of, and to influence successful, project initiation. our examination of central government projects repeatedly shows that too few projects bring all of these factors together well.”.

2015 159

Are your project management success rates improving?

Ron Rosenhead

They use their position and authority to clear roadblocks, make quick and effective decisions, and influence executive leadership. project management governance governance project management project risks project sponsorThe latest PMI Pulse of the Profession Report said: “We are encouraged to see in this year’s Pulse of the Profession® that organizations are making progress—significant progress—as they are experiencing more success with implementing strategic initiatives.

2017 109

Does your company recognize “Here, there be (project) dragons”?

Kiron Bondale

Do governance bodies within most companies recognize when a proposed project or program is beyond its current capabilities and if so, how do they do this? The boundary between the first and the second zones tends to become clearer over time, and as a company matures, they will use that boundary to dictate staff assignments as well as the required level of governance. This is where the checks and balances of effective governance are crucial.

2018 146

Project Status Reporting – 6 Key Considerations

Project Health Check

The Project should then be reporting its status regularly to senior management via a Status Report, as part of its overarching Governance arrangement. We’ve recently been involved in a review and update to the Project status reporting and governance structure for a major organisation with circa 150 Projects live projects at any one time. So there you go, some basic high level considerations for Status Reporting and Governance that we’ve used.

2017 192

How to Build a Robust Project Risk Culture [8 Steps]

Online PM Courses

Some of my readers may hope to influence the risk culture of their whole organization. And the process for creating a robust risk management culture within your project can apply equally if you get a chance to influence your wider organization. Your biggest wins will come from better governance, with little or no extra cost and time overhead. And what about governance? A robust risk culture goes beyond having a strong basic risk management process.

Risk 102

A Compendium of Works to Increase the Probability of Project Success

Herding Cats

Project Governance. Agile Software Development for Government Software Intensive System of Systems (SISoS) , Boulder Agile Meetup, 27 July 2016. Governance. Program Governance Roadmap. Principles of Program Governance. Influences on IT Strategy: How IT Strategy Impacts the Development of Systems Based on COTS Products. Making Agile Development Work in a Government Contracting Environment, Measuring Velocity with Earned Value , Glen B.

2003 45

How good is project sponsorship in your company?

Ron Rosenhead

develop your influencing skills – sometime your sponsor simply has no interest or no time. Use your new found skills to try and influence them or…. project sponsors courses in project management project management project management governance project management training project risks project sponsorI was talking with a prospective client (let’s call him Bob) on the telephone and he asked me what I thought was the biggest problem for project sponsors?

2016 147

Compendium of Works to Increase Probability of Project Success

Herding Cats

Governance (#Governance). Six Business System Rule - defines the assessment of the integrated business systems for Federal procurement and their integrity in providing information to the Government contracting office. . Managing Government Grant Projects at Arizona Public Service - APS management process for Department of Energy grant for algae CO2 capture project. Governance.

2003 37

What is Stakeholder-led Project Management?

Girl's Guide to PM

In these projects, stakeholders are identified and communicated with in the ‘normal’ way, but their power and influence is relatively low. The final type of project at the other end of the continuum is where stakeholders have a lot of power and influence over the project.

2020 333

Project Management System: The Basics

Clarizen

The project team structure subsystem governs how project teams are organized into hierarchies. government agencies). The project planning subsystem governs all aspects of project planning across the portfolio. They are integrated and influence each other.

2020 88

The PM Skills You Can Forget About (And the Ones You Really Need to Know)

LiquidPlanner

We’ve moved on from the idea that a few impact and influence grids can actively manage other people’s behavior. The model of working with stakeholders today is more around how we engage people to support the project’s goals and use influencing, negotiating, teamwork and conflict management to effectively get work done through others. What are the project management skills that you really need to focus on today?

2018 499

DDSTOP The Saga Continues

Herding Cats

We were one of the first users of eXtreme Programming, long before Scrum was around and presented that early work in 2003, " Making Agile Development Work in a Government Contracting Environment, Measuring velocity with Earned Value." . Developing the estimate without contractor influence. Satisfy the governance and oversight requirements of the firm providing the money.

7 Ways to Sell Agile to Project Stakeholders

LiquidPlanner

Here are some tips to get the word out that the business influencers are going Agile: Send them links to articles and blog posts that mention your competitors’ move to Agile. For example, the United States federal government adopting Agile has meant a rise in job openings requiring Agile project management expertise.

2018 577

Two Parallel Processes of Project Success - Both Value and Delivery are Needed

Herding Cats

Macroeconomics is the study of how people make decisions influenced by tax rates, interest rates, foreign policy, and trade policy. NoEstimates Estimating Fallacy of the Week Governance Performance-Based Project Management® PrinciplesThere's a popular phrase in some parts of the agile community that goes like this. We focus on value production, not delivery. This willfully ignores the principle of all business decision making in the presence of uncertainty.

2018 39

DDSTOP The Saga Continues

Herding Cats

We were one of the first users of eXtreme Programming, long before Scrum was around and presented that early work in 2003, " Making Agile Development Work in a Government Contracting Environment, Measuring velocity with Earned Value." . Developing the estimate without contractor influence. Satisfy the governance and oversight requirements of the firm providing the money.

How effective is your benefits management framework?

Kiron Bondale

This is especially true with discretionary investments as the benefits from mandatory projects are usually related to risk reduction and are usually immune to changes in strategic objectives or external environmental influences. This can be quite challenging with enterprise portfolios containing multiple interdependent projects and programs where a single Key Performance Indicator (KPI) might be influenced by a collection of projects.

2017 139

Don’t ignore appetite when it comes to risk response!

Kiron Bondale

Stakeholders with a low appetite for a particular type of risk might influence a stronger risk response than is warranted which can impact efficiency. Risks can be positive or negative, but risk appetite usually has a greater influence on how we handle threats rather than opportunities.

Risk 139

Risk Management in Five Easy Pieces, with Apologies to Jack

Herding Cats

Although each uncertainty type is distinct, a single project may encounter some combination of four types: Variation – comes from many small influences and yields a range of values on a particular activity. Foreseen Uncertainty – are uncertainties identifiable and understood influences that the team cannot be sure will occur. Managing Cost, Schedule, & Technical Performance Risk Is The Basis Of Good Project Management.

Risk 37

DDSTOP The Saga Continues

Herding Cats

We were on of the first users of eXtreme Programming, long before Scrum was around and presented that early work in 2003, " Making Agile Development Work in a Government Contracting Environment, Measuring velocity with Earned Value." . Developing the estimate without contractor influence. Satisfy the governance and oversight requirements of the firm providing the money.

Concept of Operations

Herding Cats

Describe those aspects of the physical environment, safety, security, and privacy that exert influence on the operation or operational environment of the proposed system. Agile Architecture Decision Making Governance Principles Project Management Systems TheoryOne of the root causes of project failure is the failure to apply the first principle of the five principles of project success. What does done look like in units of measure meaningful to the decision maker?

2014 34

The Death of Project Management

Girl's Guide to PM

Leadership is that branch of management concerning the development, nurturing and utilization of influence as way of motivating others to some end or objective. Bryan Barrow. This is a guest post by Bryan Barrow. After several years we seem, at last, to be over our fixation with zombies.

2020 247

INVEST, Scrum and Enterprise IT

Herding Cats

The direction of influence from one element to another is captured by an arrow in place of a simple link. NoEstimates Decision Making Estimating Governance Management Planning Principles Product Management Project Management Requirements Strategy Systems Theory Technical Performance MeasuresThe term INVEST is an acronym for good User Stories. I ndependent (of all others). N egotiable (not a specific contract for features). V aluable (to the business or the project).

SCRUM 31

Value, Cost and Business Decision Making

Herding Cats

The best choice depends on our type of business, what influences our customers to buy and the nature of our competition. NoEstimates Business Decision Making Estimating Fallacy of the Week Governance Logical Fallacy Management Planning Principles Product Management Project ManagementIn Software Value of something is totally unrelated to Cost. This is a popular fallacy in the #Noestimates advocates vocabulary.

2018 34

From Laying the Foundation to Completion: The Basics and Challenges of Project Management in Construction

Inloox

The success of a construction project is sometimes recognizable even to amateurs and influences the lives of everybody. Especially in the case of government-financed large-scale projects, the pressure from outside is enormous.

2021 151

INVEST, Scrum and Enterprise IT

Herding Cats

The direction of influence from one element to another is captured by an arrow in place of a simple link. NoEstimates Decision Making Estimating Governance Management Planning Principles Product Management Project Management Requirements Strategy Systems Theory Technical Performance MeasuresThe term INVEST is an acronym for good User Stories. I ndependent (of all others). N egotiable (not a specific contract for features). V aluable (to the business or the project).

SCRUM 28

Economics of Software Development

Herding Cats

Macroeconomics is the study of how people make decisions influenced by tax rates, interest rates foreign policy, and trade policy. NoEstimates Economics Estimating Governance Mathematics PrinciplesMaking decisions in the presence of uncertainty with limited resources is the domain of Macro and Micro Economics. Making decisions in resource-limited situations at the national or global scale is macroeconomics.

2017 36

Fallacy of the Day

Herding Cats

An Open-Loop system, is a non-feedback system, where the output – the desired state – has no influence or effect on the control action of the input signal. . Restoring the Balance – when a decision is made, it needs to based on the principles of microeconomics , at least in a governance based organization. "On spec" is open loop control on value.

Stakeholder-led Project Management [Book Review]

Girl's Guide to PM

In these projects, stakeholders are identified and communicated with in the ‘normal’ way, but their power and influence is relatively low. The final type of project at the other end of the continuum is where stakeholders have a lot of power and influence over the project. Worsley also excludes steering group members from ‘engagement’ saying that the governance process is enough for them.

2016 288

What is a Stakeholder in Project Management?

Planio

This could mean partners, users, competitors, or even government groups who will be impacted by what you’re doing. While anyone who is impacted by the project is technically a stakeholder, key stakeholders are those who have influence and authority to dictate whether a project is a success is not. These are the people who will make or break your project—like the sponsor, funding groups, or government agencies. Who wants to influence this project (positively or negatively)?

2018 244

Value, Cost and Business Decision Making

Herding Cats

The best choice depends on our type of business, what influences our customers to buy and the nature of our competition. NoEstimates Business Decision Making Estimating Fallacy of the Week Governance Logical Fallacy Management Planning Principles Product Management Project ManagementIn Software Value of something is totally unrelated to Cost. This is a popular fallacy in the #Noestimates advocates vocabulary.

Are you an unbeliever?

Kiron Bondale

If so, this is the time to use your powers of influence and persuasion to convince the sponsor, governance committees and other decision makers to do the right thing. I was asked a very unique question by one of the learners in a project management course I taught this week: “ How do I motivate my team members when even I don’t believe in the project? “ While I’d been posed this question for the first time, it is not an uncommon challenge.

2020 165

An Introduction to Project Steering Groups

Girl's Guide to PM

You might use the term Project Board or Governance Committee, or something else that means a similar thing. Here’s an introduction to project steering groups as part of the governance framework so you can get yours set up and working on your project. The objective of the Project Steering Group is to provide executive oversight and governance for the project. The Governance Framework. The group is a key part of your project governance framework.

2018 181

How Leadership Affects Projects (And How You Can Lead Yours)

Girl's Guide to PM

Managing upwards to the sponsor, governance committee and client, as well as looking at the performance of the project team. Sarah Coleman is co-author of Project Leadership, a book in its third edition exploring how leadership and project management intertwine.