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The Crucial Role of Project Governance

Achieving success isn’t solely about completing tasks; it’s about adhering to a structured framework that guides the entire project lifecycle. Enter project process governance: a strategic approach that ensures projects align with organizational objectives, adhere to best practices, and maintain transparency throughout their journey. 

Understanding Project Governance

Project governance refers to the set of policies, procedures, and practices that govern how projects are initiated, planned, executed, monitored, and closed within an organization. This governance framework acts as a guiding light, ensuring that projects are executed consistently and in alignment with the organization’s overall strategy.

Key Elements of Project Governance

  1. Standardization: A well-defined governance framework standardizes project management processes. It establishes a common language, tools, and templates, which improves collaboration and reduces confusion.
  2. Roles and Responsibilities: Clearly defining roles and responsibilities for project stakeholders fosters accountability and minimizes role ambiguity. This clarity ensures that everyone knows their contribution to the project’s success.
  3. Decision-Making Authority: Governance outlines the hierarchy of decision-making authority within a project. This prevents delays caused by indecision and empowers the right individuals to make crucial choices promptly.
  4. Risk Management: An effective governance structure integrates risk management strategies. This proactive approach identifies potential risks, outlines mitigation plans, and encourages risk monitoring throughout the project lifecycle.
  5. Communication Channels: Well-defined communication channels facilitate the flow of information. This prevents information bottlenecks, keeps stakeholders informed, and enables swift issue resolution.

Benefits of Effective Project Governance

  1. Alignment with Organizational Goals: Governance ensures that projects are aligned with the organization’s strategic goals and objectives. This alignment increases the likelihood of project success and maximizes return on investment.
  2. Consistency and Quality: A standardized approach leads to consistent project execution. This consistency enhances the quality of deliverables and reduces errors caused by ad hoc practices.
  3. Risk Mitigation: By embedding risk management into project processes, governance minimizes the impact of unforeseen challenges. It allows for timely responses and reduces project disruptions.
  4. Efficient Resource Allocation: A governance framework enables efficient allocation of resources such as time, budget, and manpower. This optimization prevents wastage and overextension.
  5. Transparency and Accountability: Clearly defined roles and responsibilities enhance transparency, enabling stakeholders to monitor progress and hold accountable parties responsible for their contributions.

Implementing Effective Project Governance

  1. Customization: Tailor the governance framework to suit the organization’s unique needs and industry requirements. A one-size-fits-all approach might not yield the desired results.
  2. Leadership Support: Obtain buy-in from top leadership for the governance initiative. Their support demonstrates the importance of adherence to the framework.
  3. Training and Awareness: Ensure that all project stakeholders understand the governance framework. Conduct training sessions to familiarize team members with the processes and expectations.
  4. Continuous Improvement: Regularly review and update the governance framework. As projects evolve, so should the governance structure to accommodate lessons learned and changing circumstances.

Conclusion

Project process governance is the compass that guides projects towards successful outcomes. By establishing standardized processes, clear communication channels, and a structured approach to decision-making, organizations can navigate the complexities of project management with confidence. Embracing project process governance is not just about achieving project success; it’s about cultivating a culture of excellence, accountability, and strategic alignment across the organization. Completix can assist your practice in attaining appropriate governance and ensuring its adherence.
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Changelog

Apr 20, 2024

  • New – Document search is indexed and fully integrated with external drives (OD. GD. etc).
  • Improved – Schedule and RAID filters have been improved 
  • Improved – Milestones in gantt chart are placed in different level when colliding
  • Improved – CSV exports data improvement
  • Improved – Dashboards columns are also customizable “per user” and can be set directly in the dashboard.
  • Fix – Fixed bugs in schedule and RAID where resources couldn’t be copied via context menu

Mar 16, 2024

  • New – OneDrive Integration (2-way) 
  • New – Google Drive Integration (2-way)
  • New – Schedule Kanban view
  • New – Tracking and Operational initiatives have been simplified and add the ability to migrate to a full project
  • Improved – Document templates can now be organized into folders

Jan 29, 2024

  • Improved – Site Settings’ UI has a new look with explanation and guide
  • New – Portfolio status can now be exported unified 
  • New – Jira Integration (2-way)
  • New– MS Project Integration (2-way)
  • New– Simplified view – Record is committed automatically

Dec 22, 2023

  • New – Introduced a FREE plan
  • New – Introduced a new trigger-based Warning engine
  • New – Added charts for budget’s status
  • New– Added Portfolio Manager role
  • New– Added Portfolio view in My Dash for assigned Portfolio Managers
  • New – Project type can be hidden if not in use
  • Improved – Status reports now export in PDF landscape for better readability

Nov 25, 2023

  • Fix – Bugs and UI tune-ups
  • New – RAID Cards in Kanban mode have an updated look
  • New – Added 5 custom budget fields. You can track your own custom financial targets and display them in the various dashboards and status reports
  • New – Budget templates can now be created by importing directly from MS Excel
  • New– When, in a project, components are hidden, all related options are also hidden
  • New– Added a Resource view for Portfolios

Nov 5, 2023

  • Fix – Bugs and UI tune-ups
  • New – Introduced Operational and Task Tracking as type of initiatives
  • New – Project type tags are now colored differently for a better experience
  • New – Project types are now tracked in the Dashboards
  • New– Added ability to show/hide all details’ components separately in the Overview page 
  • New – Added a “Note” field in vendor expenses.

Oct 5, 2023

  • Fix – Bugs and UI tune-ups
  • New – Introduced Financials lock
  • New – Dashboards: added alert icons for values over the baseline 

Sep 6, 2023

  • Fix – Fixed FY calculation in PM Dashboard
  • New – Introduced a new Trial start Welcome guided setup
  • New – Table’s headers have a new and improved look
  • New – Added option to include/exclude any given project in the overall Budget and/or Financials calculations
  • New – Added option to enable/disable the budget fiscal on a per project basis

Aug 25, 2023

  • Fix – Bugs and UI tune-ups
  • Update – We updated all internal libraries to the latest version 
  • New – Introduced a Simplified project type to be used for task tracking type activities
  • New – Increased the number of components that can be turned off separately
  • New – Tasks can now be added directly from the dashboards
  • New – The Trial plan has been simplified by turning off, by default, all advanced components. All features can be turn back on in the Site settings
  • New – Individual users can now customize their dashboards by show/hide columns of data. Go to “My Account” to customize it.

Aug 10, 2023

  • Fix – Bugs and UI tune-ups
  • New – Grouping of resources in MyTeams
  • New – Pre-built budget “Estimates vs Actuals”
  • New – Status report now has a new widget: Summary bar
  • New – More components can be turned off separately
  • New – New tasks can be added directly from the dashboard

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