Corporate Governance, Governance of Projects, and Project Governance, what’s the difference? Are your Lean Six Sigma projects governed?
Darya Duma, Member of Procept Associates Ltd. Management Advisory Board and Senior Trainer and Consultant, clearly defines the differences and provides the requirements for Governance of Projects.
At the macro level, Corporate Governance outlines the rules by which an organization conducts its operations. Project Governance, on the other hand at the micro level, is the framework for controlling a single project.
Governance of Projects, the main focus of the video, is the overall organizational framework for directing and controlling all projects. It must be aligned with Corporate Governance, and is concerned with the following elements for all projects:
- Business Justification
- What is the business case for the project?
- Executive Accountability
- One project sponsor accountable at the executive level
- Decision-making Structure
- Defined rules and responsibilities
- Transparent Communication
- Reporting, Reviews, Lessons Learned
- Direction for Efficient Use of Resources
- Project objectives match resource availability and capability
You can view Darya’s presentation here.
As you watch the video, compare your Lean Six Sigma deployment structure to the guidelines covered. What is the role of a Champion in your organization? Do your projects meet the requirements mentioned in the video?