Evaluating Project Governance Guidelines ( Such As As8016 And 6q Governance

902 Words Nov 15th, 2014 4 Pages
Q1 GOVERNANCE
Evaluate project governance guidelines (such as AS8016 and 6Q Governance™) to determine whether they have more potential to overcome the problem of IT project failure than project management methodologies (such as PMBOK and PRINCE2).

Over the last three decades, coping with large information technology(IT) projects has been a difficult and important problem for both practitioners and academic researchers(Ika 2009, Toomey,2009:Weill & Ross,2004:Bekker & Steyn 2009). Research studies show that organisations with effective project governance increase profits by at least 20% when compared to organisations with no governance support (Ross and Weill,2004; Wilson & Pollard,2009).
Project governance can be defined in simple words as a set of policies and rules established to govern or control the progress of any project in an organization. Project management on the other hand can be described as the process of determining and evaluating the various key parameters required for the execution of any project namely resources, finances and strategy. Therefore it can aptly be said that project governance is a subset of project management which has been introduced to overview the progress and stages of development of any project in an Organization. Project governance not only provides the organisation with a framework of responsibilities and decision making capabilities’ it also ensures that the project implementation and execution will go smoothly. Project governance lays…

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