The management of project management: a conceptual framework for project governance

Too, Eric G. and Weaver, Patrick (2014) The management of project management: a conceptual framework for project governance. International Journal of Project Management , 32 (8). pp. 1382-1394. ISSN 0263-7863

Abstract

For an organization to create optimal value from its investment in projects there must be a clear link between the outputs created by the projects and the requirements of the organization's business strategy. This means that organizations that have a structure in place for aligning the project deliverables with their organizational goals will be better placed to realize their investment in projects, and achieve the value defined by their business strategies. This paper examines existing research, ideas and concepts of project governance and enterprise project management, and offers a framework to build on current theory development and practice. Synthesizing existing literature of project/program management, governance and portfolio management, this paper proposes four key elements to improve the performance of projects and hence create value for organizations.
These four elements are (1) portfolio management: focused on selecting the right projects and programs to support the organization's strategy, and terminating ones that no longer contribute to the business success of the organization; (2) project sponsorship: providing the direct link between the executive and the project or program manager, focused on the whole project lifecycle;(3) Project Management Office (PMO): providing oversight and strategic reporting capabilities; (4) projects and program support: the effective support and management of projects and programs are the measures of an effective governance system. The purpose of the framework described in this paper is to provide guidance to organizations in the development of effective project governance to optimize the management of projects.


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Item Type: Article (Commonwealth Reporting Category C)
Refereed: Yes
Item Status: Live Archive
Additional Information: Permanent restricted access to published version due to Publisher copyright policy.
Faculty / Department / School: Current - Faculty of Business, Education, Law and Arts - School of Management and Enterprise
Date Deposited: 09 Sep 2013 01:20
Last Modified: 24 Feb 2015 02:50
Uncontrolled Keywords: business value; enterprise project management; multi project environment; project governance; strategic alignment
Fields of Research : 15 Commerce, Management, Tourism and Services > 1502 Banking, Finance and Investment > 150205 Investment and Risk Management
15 Commerce, Management, Tourism and Services > 1503 Business and Management > 150303 Corporate Governance and Stakeholder Engagement
12 Built Environment and Design > 1202 Building > 120201 Building Construction Management and Project Planning
Socio-Economic Objective: B Economic Development > 91 Economic Framework > 9104 Management and Productivity > 910402 Management
Identification Number or DOI: 10.1016/j.ijproman.2013.07.006
URI: http://eprints.usq.edu.au/id/eprint/24031

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