Project Governance and the importance of having a decision making framework

T

he goal of project management is for a successful and effective completion of usually a short-term project. Ultimate success depends on the team's ability to meet the objective, technically define and address the risks without any of the negative implications desired by the stakeholders, and perform the actions necessary to prepare documentation and deliver the deliverables on time and within budget.

There are certain generic steps within valid governance that are applied to both planning and executing projects:

Assessing the Impact of Project:

The assessment process enables a definition of all project activities and within the knowledge of the team, typically five stages are identified:

  1. Evaluation of Alternatives: The alternatives are evaluated to determine which of the selected alternatives is best for the current actions being taken, considering all relevant risks, or more importantly, the support needed by the organization to understand the cost and effort requirements and most importantly, implement and operate the project with minimal or no impact on the organization or its entities.
  2. Ancillary Outcomes: Organizations will determine the steps necessary to continue the program after the evaluation of all alternatives have been made.
  3. Monitoring and Control: Ongoing key performance indicators will provide management with the information necessary to provide regular feedback and manage programs on a timely basis.

The key is for an organization to retain control over projects and allow internal knowledge and expertise to make informed decisions. Prior to the initiation of any project, organizations should identify the "what ifs" and "hows", as well as "whys". Knowing what you want to achieve is often the hardest part, however it is also the most enjoyable part.  By keeping in mind your organization's comfort level, it will be easier for the team to focus on the most important areas or steps of the project, keeping them in the " zone."

During the initiation of a project, the team may be lacking in skill or resources and the team leader or the project manager should take the lead in gaining these important resources. In addition, the end goal should be that all team member resources are fully utilized and do not waste valuable time and skills, thus resulting in a successful project management outcome for the team.

Using Your Team Members' Expertise:

It is often said that the right people are hard to find, but once they are identified they are worth their weight in gold. In a project, their ability, and their willingness, to contribute to the team work well with any member/s brought in to work on the project. The challenge of  amassing the right team is two-fold:

  1. 1. Identifying candidates who will be available to "go with the flow" without the complete resources they need and
  2. 2. Contracting the resources that are needed to get the work done, realistically, and within a budget.

Regardless of the number of team members and the amount of the project, the ultimate goal within the Six Sigma business mindset is to engage all of team members to actively engage their skills where most needed, so they can offer the team valuable feedback and appropriate direction. The Six Sigma mentality calls for everyone, no matter how little time or involvement is involved, to work together as a team, supporting one another's efforts, to successfully complete the project. It can be as simple as "if you are not going to implement a measurement or a gauge, (goes back to costing, time, etc) there are many ways to waste".

When you’re running a company, it can be hard to keep everyone on the same page. There are so many things going on at once that it’s easy for people to forget about important decisions or get off track. This is why we specialise in Project Governance – an online decision making tool that helps teams make better decisions and stay focused on what matters most when working together.

Get in touch with us today to discuss terms that will benefit you, take Gemraj Technologies with you along your business journey and discover a more efficient business model!

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