A Project Management Team’s Guide To Successful Project Governance

• Project initiation. Strategic decisions at the start of the project include a governance framework, establishing roles and responsibilities, and deciding on project stakeholder engagement and communication.
• Planning: Assessing risk, establishing clear protocols and "rules for engagement" for problems, such as missed milestones.
• Execution: First, ensure to communicate all strategic plans and decisions. As the project progresses, give regular updates and monitor for oversight.
• Completion: Assess what worked, what didn't and adjust for future projects.

Various people are responsible for strategic decisions, assessing the risk, reporting on progress and managing the project.

• The project owner is responsible for the direction, alignment, and overall success of the project. They are often a senior executive and accountable for the entire project lifecycle.
• Project stakeholders are invested in the project outcome, such as the directors or investors.
• The steering committee is responsible for oversight, risk management, quality control, and project goals.
• The project manager oversees the day-to-day management of the project.