Each day, hundreds of projects are executed and launched, some successful, others not so. Because projects are the lifeblood of a business, organization or government body, one has to wonder, will portfolio governance service become more relevant as the months go by? Experts say that as the world grows more competitive, success becomes more and more mandatory, and because of this, project governance services are here to stay.
The Basics of Project Governance
Before, when organizations and companies plan and launch projects, they divide their best people into teams and then delegate tasks. There is a hierarchy, with the members reporting to their team leaders, while the team leaders report to their supervisors, etc. Usually, the organization or company is solely responsible for overseeing the project until its completion and success.
However, nowadays companies and organizations are seeking the help of third-party companies that offer p3o assistance. These companies help manage anything involving planning and project management. They work hand-in-hand with the organization as advisers, assessors and other roles.
Is Project Governance Important?
Asking if today’s portfolio governance service is important is akin to asking if food is important for humans. Organizations big and small seek the help of third-party companies in developing a project governance framework and ensuring that this framework is followed throughout the course of the project. After all, it doesn’t matter how good your project is; if it is executed poorly, then you are destined for failure.
This is not to say that organizations, companies and government bodies nowadays are inept at creating their own project governance framework. Sometimes, it’s just better to bring in people from the outside who have a fresh perspective of the project at hand. Sometimes, with all the weeks you spend on brainstorming about a project, it’s difficult to be open to other options because you have a set mindset on it already. Check out at Ross Garland