property management sebastopol ca. Done for the right reasons, implemented using a well-designed plan, and measured against good quantitative success criteria, projects transform a business.
Good project have the right people doing the right things for the right reasons. Project Sponsors can sit back knowing that they’ll be kept informed of progress, and with the right controls, can be sure they’ll be made aware of any changes that will affect the project – along with the consequences. Project Management methodologies using AMP or PRINCE2 tools, or for those of us with greater experience, enough of their tools as the project and budgets warrant, improve still further the chances of success.
But there is a role which is crucial to project success: more of an unsung hero, but nonetheless vital to the organisation. That’s Project Assurance.
The whole purpose of Project Assurance is to make sure that someone independent of the Project Manager keeps an eye on progress, identifies potential problems in its management, and is authorised to report to the Project Sponsors if there are any problems which they should be made aware of. In their view…
So, why have Project Assurance? Surely, when a project is properly set up, for as we have noted above, all the right reasons, and the proper reporting channels and systems are set up – we can rely on the Project Manager. Or if not them, then the Project Executive who the PM reports to?
Because Project Sponsors will by definition not work on the project, they will place great reliance on regular reports from the Project Manager. However, from time to time, especially if the Sponsors pick up ‘whispers’ in the air, there may be questions at the back of their minds, including:
Because Project Sponsors are inevitably outside the project, they ought to consider how they manage those potential risks. The advent of the Companies Act 2006 means that directors, for example, are more likely to be held accountable for issues than before. Governance and Risk Management are increasingly important to business of all types and sizes – so how best to manage the risk without taking on the responsibility.