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Essential product management skills
How to work effectively with cross-functional teams
How to identify and prioritize customer needs
Effective project governance
Effective project governance is about making good decisions and being accountable for them.
Project governance involves:
- ensuring the project's direction is in line with the rest of the organisation
- making strategic decisions
- managing oversight
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The main purposes for project governance
- Aligning the project's strategic direction with the organisation. Every product should move toward the organisations' goals and visions.
- Finding the sweet spot of project governance case-by-case. Every project will need some governance. A quick project with a narrow scope and low risk may need less governance, while a complex and important project will need more governance.
- As the timeline unfolds, it will help to make strategic decisions and manage project oversight.
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How project governance shifts through a project's lifecycle
- 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.
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Establishing roles and responsibilities
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.
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CURATED BY
CURATOR'S NOTE
A strong foundation with the right structure, people, and information-sharing can ensure that projects align with your organization and result in good decisions.
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