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06.13.06
IT Project Governance And Prince2 Project Management
 By
Alan Calder
In today's fast-changing information economy, IT project governance has emerged as one of the most vital corporate responsibilities.
The relentless pressure to innovate whilst simultaneously driving down costs means that organisations are increasingly 'betting the farm' on the successful development and deployment of new IT systems.
However, the business environment now evolves so quickly that the original assumptions on which projects were based can often become fatally undermined prior to the projects' completion. With technology at the heart of most businesses, the ability to maintain tight executive and board control over such projects throughout their lifecycle has become a deciding factor in determining which businesses thrive and which founder. In response to this challenge, Prince2 project management has emerged as the world's leading methodology for ensuring that IT projects stay on track and deliver real value.
No large scale or business critical project should ever be managed on a standalone basis. The need to involve and secure buy-in from functions right across the organisation means that a project governance approach is essential. While project management is the key discipline within this, project governance is broader in scope and has six interlinked objectives:
1. Ensuring real business value through project and business alignment.
2. Controlling costs through centralisation.
3. Maximising resource allocation, particularly of high value resources.
4. Risk management through portfolio balancing.
5. Uniform application of best practice.
6. Organisational coherence.
IT decisions expose an organisation to significant risks - financial, operational
and competitive - so it is essential that project governance be a concern for
the board as a whole, rather than any one individual. The board must insist that
project risks are assessed within the organisation's strategic planning and risk
management framework and ensure that the right investment and management decisions
are made, so that competitive advantage can be enhanced and measurable business
value delivered.
Read
the Full Article
About
the Author:
Alan Calder is CEO of IT Governance
Limited, which is the world's most comprehensive publisher and distributor
of books, tools, information and advice on governance, risk and compliance. |
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