The AMA Handbook of Project Management by Dinsmore Paul C. Cabanis-Brewin Jeannette & Jeannette Cabanis-Brewin

Author:Dinsmore, Paul C.,Cabanis-Brewin, Jeannette & Jeannette Cabanis-Brewin
Language: eng
Format: epub
Publisher: American Management Association, AMACOM Division
Published: 2014-09-14T04:00:00+00:00

In fulfilling the EPG role, the key activities for project sponsors and steering committee members to address are strategic alignment, risk management, portfolio management, organization and stakeholder management, performance evaluation, and business transformation. Implementing project governance requires a framework based on these major components, as presented in Figure 27-1.

Strategic Alignment

The responsibility of EPG is to ensure that projects are consistent with company strategies and goals and that the projects are implemented productively and effectively. All investment activities are subject to the governance process in that they need to be resourced and financed adequately. For mandatory projects, the decision is not whether to undertake the project but how to manage it in order to meet the required standard with minimum risk. For discretionary projects, more focus is required on the go/no-go decision and whether the project supports the strategic objectives and the investment gives best value compared with other alternatives.

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