Portfolio, programme & project governance
Project, Programme & Portfolio Governance (P3G)?is a critical aspect of ensuring successful project delivery, however it is not without its challenges.?
Let’s delve into some of the challenges associated with P3G:
Complexity & scale:
- Managing governance across multiple projects, programmes and portfolios can be intricate due to their varying sizes, scopes, and interdependencies.
- Balancing consistency with flexibility becomes challenging when dealing with diverse initiatives.
Stakeholder alignment:
- Ensuring alignment among stakeholders with differing interests and priorities can be daunting.
- Decision-making boards may become clogged with stakeholders, leading to slow and inefficient processes.
Behavioral aspects:
- Governance isn’t just about structures; it also involves human behavior.
- Addressing behavioral issues, such as resistance to change or lack of commitment, is crucial for effective P3G.
Implementation gap:
- Despite theoretical understanding, practical implementation remains a hurdle.
- Many projects still suffer from inadequate governance, resulting in late deliveries, overspending, & underperformance.
Adaptability:
- P3G principles should be adaptable to different organisations and contexts.
- Striking the right balance between rigidity and flexibility is essential.
Lack of comprehensive guidance:
- Until recently, there was comparatively little practical advice available on P3G.
- The new guide,?Project, Programme & Portfolio Governance (P3G), fills this gap by providing actionable guidance.
The take-away
Effective P3G requires a delicate balance between structure, behavior and adaptability. It’s a dynamic field that demands continuous improvement and responsiveness to changing project landscapes.
Article author: Gina Barlow