Question

What is project governance? What is its purpose?

What is a project management office (PMO)? What purpose does it serve?

What is business process outsourcing?

What is offshoring or offshore outsourcing?

Answer 1

Answer 1 - Project governance makes the projects run smoothly, on budget, with on time deliveries and client satisfaction. An overall framework that oversees the project in order to do these things is known as project governance.

Project governance is the framework as to how project decisions are made. It provides information regarding the organization activities and the responsibility of people. It therefore covers all the following aspects:

• Regulations
• Policies
• Procedures
• Processes
• Functions
• Responsibilities

Importance of Project Governance

• Project governance helps in directing and defining the decision-making procedures and metrics for the validation of impacts to the project.
• It enables the project team to make the delivery as per requirements
• It also  creates a forum for resolving issue that may to occur in a timely manner
• It gives a proper structure to the whole process.
• It aligns the project with business goals;
• Helps in selecting the right project at the right time
• Helps in safeguarding the project so that it stays on target, which allows it to reduce the risk of failure.