8 Principles for Good Governance - pmo365 | Project Portfolio Management Solution

We all know governance is critical to successfully manage a project portfolio. An effective governance framework assists your organisation in making the right decisions quickly. Conversely, poor governance can lead to project delays, communication breakdown and increased risk exposure. From our industry experience, we’ve utilised these eight principles for good governance. Here’s what they are, and how you can apply them. Defining Good Governance Governance has different connotations in different fields. Though we’re referring to governance in project management, the concept of has universal roots. The Australian Institute of Company Directors suggests that “good governance is the framework that ensures the organisation can meet its mission.” In project management, good governance has the further application of establishing processes that promote effective decision-making and implementation. Therefore, a key principle of good governance is forming a clear framework. Ideally, this shoul...