Project Governance : Project Management

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Meghana Vuppu IT 463 Fall 2015 HW4
A1) Project Governance provides the project manager and team with structure, process and decision making models and tools for managing the project and ensuring its success. It includes a framework for making project decisions, designing roles responsibilities and accountabilities for the success of the project and determines the effectiveness of the project manager. Good governance can be demonstrated through the adoption of a disciplined life cycle governance that includes approval gates at which viability is reviewed and approved; recording and communicating decisions made at approval gates.
The application of good governance minimises risks arising from change and maximises the benefits. It also assures the continued development of the profession and disciplines of project, programme, and portfolio management. Project Governance must define:
• Structure: Each organization creates its own PMO. A project management office, abbreviated to PMO, is a group or department within a business, agency or enterprise that defines and maintains standards for project management within the organization. The PMO strives to standardize and introduce economies of repetition in the execution of projects. Also steering committee is created to represent interests of different stakeholders.
• Authority: Stakeholders must have a clear understanding of their authority. The work authorization
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