Governance Flashcards
What is the APM Definition of Governance?
Governance is the framework of authority and accountability that defines and controls the outpus, outcomes and benefits from Projects, Programmes and portfolios.
It is the mechanism whereby the investing organisation exerts financial and technical control over the deployment of the work and the realisation of value.
What are the aspects of governance?
-Regulations
-Policies
-Processes & Procedures
-Delegated responsibilities
How do regulations affect project governance?
Regulations are often imposed on an organisation and the organisation has to determine how this will be controlled.
e.g Employment Law and various regulations that relate to treatment of employees means that an organisation has to decide how to cater for these regulations. In most cases an efficient method is to create a HR dept. This effects the organisational structure and therefore the Project.
How do Policies affect the Project Governance?
Policies ensure that clear direction is provided to all members of Projects.
e.g Company environmental policy may provide direction to project members on environmental targets projects must meet.
How do Processes and Procedures affect Project Governance?
They enforce on the project a standardised way of working to ensure uniformity in approach that makes comparison between projects easier.
e.g Standardised project investment appraisals could make comparison between investment pin two different projects easier.
How do Delegated Responsibilities affect Project Governance?
They make sure it is clear who is accountable and responsible for work. It means that people can continue their work within their known area up to their known boundaries and management can understand that work will progress to those boundaries.
