About Me
PMP
1 Introduction to Project Management
1.1 Definition of Project Management
1.2 Importance of Project Management
1.3 Project Management Framework
1.4 Project Life Cycle
1.5 Project Management Knowledge Areas
1.6 Project Management Process Groups
2 Project Environment
2.1 Organizational Structures
2.2 Organizational Process Assets
2.3 Enterprise Environmental Factors
2.4 Stakeholder Management
2.5 Project Governance
3 Project Integration Management
3.1 Develop Project Charter
3.2 Develop Project Management Plan
3.3 Direct and Manage Project Work
3.4 Monitor and Control Project Work
3.5 Perform Integrated Change Control
3.6 Close Project or Phase
4 Project Scope Management
4.1 Plan Scope Management
4.2 Collect Requirements
4.3 Define Scope
4.4 Create WBS
4.5 Validate Scope
4.6 Control Scope
5 Project Time Management
5.1 Plan Schedule Management
5.2 Define Activities
5.3 Sequence Activities
5.4 Estimate Activity Durations
5.5 Develop Schedule
5.6 Control Schedule
6 Project Cost Management
6.1 Plan Cost Management
6.2 Estimate Costs
6.3 Determine Budget
6.4 Control Costs
7 Project Quality Management
7.1 Plan Quality Management
7.2 Perform Quality Assurance
7.3 Control Quality
8 Project Resource Management
8.1 Plan Resource Management
8.2 Estimate Activity Resources
8.3 Acquire Resources
8.4 Develop Team
8.5 Manage Team
8.6 Control Resources
9 Project Communications Management
9.1 Plan Communications Management
9.2 Manage Communications
9.3 Monitor Communications
10 Project Risk Management
10.1 Plan Risk Management
10.2 Identify Risks
10.3 Perform Qualitative Risk Analysis
10.4 Perform Quantitative Risk Analysis
10.5 Plan Risk Responses
10.6 Implement Risk Responses
10.7 Monitor Risks
11 Project Procurement Management
11.1 Plan Procurement Management
11.2 Conduct Procurements
11.3 Control Procurements
12 Project Stakeholder Management
12.1 Identify Stakeholders
12.2 Plan Stakeholder Engagement
12.3 Manage Stakeholder Engagement
12.4 Monitor Stakeholder Engagement
13 Professional and Social Responsibility
13.1 Ethical Considerations in Project Management
13.2 Social Responsibility in Project Management
14 Exam Preparation
14.1 Exam Format and Structure
14.2 Study Tips and Strategies
14.3 Practice Questions and Mock Exams
14.4 Time Management During the Exam
14.5 Post-Exam Review and Feedback

2 5 Project Governance

Project Governance Explained

Project Governance Explained

Project Governance refers to the framework and processes that ensure the project is managed effectively and aligns with the organization's strategic objectives. It involves setting up structures, policies, and procedures to guide and control project activities.

Key Concepts

1. Governance Framework

The Governance Framework provides the structure and mechanisms for managing projects. It includes policies, procedures, roles, and responsibilities that ensure the project is aligned with the organization's goals and standards.

Example: A large corporation might have a governance framework that includes a Project Management Office (PMO) to oversee all projects. The PMO sets guidelines for project initiation, planning, execution, and closure, ensuring consistency across all projects.

2. Decision-Making Authority

Decision-Making Authority defines who has the power to make decisions at various stages of the project. This ensures that decisions are made by the appropriate individuals or groups, based on their expertise and authority level.

Example: In a construction project, the project manager might have the authority to approve minor changes, while significant changes in scope or budget require approval from a steering committee.

3. Risk Management

Risk Management involves identifying, assessing, and mitigating risks that could impact the project. Effective governance ensures that risk management processes are in place and are followed throughout the project lifecycle.

Example: A software development project might identify risks such as technical challenges or delays in delivery. The governance framework would include regular risk assessments and contingency plans to address these risks.

4. Performance Monitoring

Performance Monitoring involves tracking the project's progress against its objectives and timelines. This ensures that the project stays on track and any deviations are promptly addressed.

Example: A marketing campaign project might use key performance indicators (KPIs) such as reach, engagement, and conversion rates to monitor performance. Regular reports and dashboards help in tracking these metrics and making necessary adjustments.

5. Compliance and Ethics

Compliance and Ethics ensure that the project adheres to legal, regulatory, and ethical standards. This includes following industry best practices and organizational policies to maintain integrity and trust.

Example: A healthcare project must comply with regulations such as HIPAA for patient data protection. The governance framework would include policies and procedures to ensure compliance and ethical handling of sensitive information.

© 2024 Ahmed Baheeg Khorshid. All rights reserved.