Why Do Some Executives Refuse For Function As Project Sponsors?

1348 Words Oct 29th, 2015 6 Pages
1. Why do some executives refuse to function as project sponsors?
An executive is nothing but the person or group appointed and given the responsibility to lead the events of an organization and the authority to make decisions within particular boundaries. In an organization an executive is different from managers and supervisors in that they implement plans rather than look after their completion. Generally, executives can create long-term and short-term plans in accordance with the company’s strategies. The major responsibilities of an executive are to ensure the budget as well as expenditures, to evaluate the principal risks and make sure that they must be managed and monitored properly. Executive usually works in coincidence with a management team by obtaining the total approval for his work before he begins.
In the project, executives cannot divorce themselves from the project management, however they must be willing to function as project sponsor. The project sponsor is nothing but the senior management role that generally involves approving or supporting the distribution of resources for a venture, explaining its goals and evaluating the venture’s final success. Moreover, a project sponsor might also champion or a supporter of the project to be adopted by other members of senior management within the business. And also called an executive sponsor.
The roles and responsibilities of the executive as a project sponsor are, the executive sponsor maintains the close…
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