A project governance framework is a set of principles, policies, roles, responsibilities, and processes that guide, direct, and control the initiation, planning, execution, monitoring, and closure of IT projects. A project governance framework can help the enterprise address the problems of poor project performance, lack of accountability, and inconsistency in execution by:
Providing a clear and consistent structure for managing IT projects across the enterprise
Aligning IT projects with the strategic objectives and priorities of the enterprise
Defining the roles and responsibilities of the project stakeholders, including the board of directors, senior management, project sponsors, project managers, project teams, and end-users
Establishing the criteria and methods for selecting, prioritizing, approving, and funding IT projects
Setting the standards and expectations for project planning, execution, quality, risk management, communication, and reporting
Implementing the mechanisms and tools for monitoring, controlling, evaluating, and reviewing IT project performance and outcomes
Ensuring the accountability and transparency of IT project decisions and results
[References:, According to the CGEIT Review Manual 2022, "Project governance is a subset of IT governance that provides a framework for managing IT projects. Project governance ensures that IT projects are aligned with business objectives; are delivered on time, within budget, and with acceptable quality; and are managed in a consistent and transparent manner."1, According to the ISACA article on Project Governance: An Essential Element of Project Management Success2, “Project governance is an empowering aspect of the project management office (PMO) infrastructure management. It enables effective decision making by providing clarity on roles and responsibilities; it also provides a framework for escalation management.”, According to the PMI article on Project Governance: What You Need to Know3, “Project governance is a critical element of any project since it provides a framework for accountabilities and responsibilities associated with an organization’s capital investments (projects). It is defined as an integrated framework of processes and tools that address matters essential to successful project delivery.”, , , , , , , ]
