6 Key Steps to Implement an effective project governance process

November 09, 2023
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To scale their activities, companies have no other solution than tooptimize their project management. Improving day-to-day operations is essential to gaining competitiveness and conquering new markets.

 

This is where project governance comes in, not to be confused with project management, whose scope and issues are more limited. Indeed, project governance process involves definingproceduresandestablishing human as well as financial resources. As a result, it positions itself as anessential methodfor the sustainability of businesses.

 

In this three-part article, we'll explain what is involved in project governancethe issues and present you with the key key factors to help you implement it in your company.

 

1. What is project governance process?

 

     A) Differentiating between project governance and project management 

While project management and project governance both involve the realization of implementation of projects within a company, they differ, however, in their dimension.

Project governance being a global global methodologyuses project management as a tool to achieve its strategic objectives. its strategic objectives.

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     B) A management method

Defined by corporate sociologist Jean-François Chantaraud (2012) as 

" the set of rules and methods organizing reflection, decision-making and the monitoring of the application of decisions within a social body "In practice, project governance remains a management management method and and organization.

Made up of aset of processes, it defines the organizationat the overallcompany level. Project governance makes it possible to establish the appropriate environment foreffective project portfolio management.

     C) A strategic dimension

One of the main characteristics of project governance is its strategic dimension. strategic dimension. Indeed, defining project governance implies taking the lead in vision. Management teams then have a heavy responsibility: that of choosing projects that align with the company's overall strategy.

 

2. Why set up project governance?

 

Guaranteeing a certain level of quality thanks to structuring and organization project governance meets real challenges. What's more, its implementation offers many advantages.

      A) Aligning operations with strategy

Aligning projects with corporate strategy can be complex. However, setting up a precise project governance structure will enable you to work towards this coherence, while taking into account the company's development objectives development objectives.

In addition, project governance is particularly useful for reconcile the sometimes of an organization's various stakeholders.

     B) Facilitating decision-making

The definition of project governance is based on concrete concrete figures from operational activities activities.

A reliable analytical vision will help provide all the elements needed for informed decision-making. It should also be noted that this analysis must be based on relevant relevant financial indicators to be defined strategically.

     C) Optimizing resource management

Visit resource management is often a particularly complex issue for companies.

Indeed, the lack of visibility sometimes complicates the smooth running of projects.

By defining project governance upstream, you will improve your long-term visionwhich will enable you to better prioritize development projects.

Would you like to maximize your resource management? This article detailing the 5 steps to effective resource management should help.

     D) Ensuring sustainability 

Project governance is a major investment for any company, since it requires the involvement the involvement of teams and managementthe benefits are nevertheless considerable.

The implementation of project governance contributes to a company's company's long-term viability by facilitating the smooth running of activitiessmooth operation, which in turn generates productivity gains and improved profitability. What's more, it helps loyalty by simplifying their day-to-day activities, thanks to increased greater autonomy and visibility.

     E) Improving communication

Project governance helps to streamline the flow of information. Each role is defined in advance and, above all, transparent. Obtaining information becomes accessibleevery employee knows exactly who to contact. Communication flows are thus simplified and considerable time savings.

 

The siloing of project and finance departments makes it difficult to manage projects optimally. In contrast, Stafiz brings project management control tools from finance to project management in the field. What's more, access rights to the platform are fully configurable, providing the right level of information to your various collaborators. So everyone has the keys to act at their own level.

Discover project management with Stafiz