One of the main reasons why many projects fail is that they fail to get the project governance right. There are many senior project executives who will spend many hours in the governance roles but in the end, the results are not commensurate with the efforts that have been put in place. Very few people understand what their roles are and what they are supposed to do in project management roles.
This can create a dangerous scenario that could potentially lead to waste. Some projects are very critical to the business success and competitiveness and they are, therefore, too important to fail. There are many reasons why senior executives may be seeing red when it comes to the project management. In many cases, they lack the experience to manage projects of a particular size and complexity.Check out Ross Garland.
Without the requisite skill and experience in managing a PMO project, it is very easy for the project to run into a series of problems. It means you will be having frosty relationship with the system implementers, failing to keep the contractors engaged in the project, and an otherwise good project simply withers off under the weight of inexperience or possibly, incompetence. With proper project governance, you are going to grapple with a host of issues such as clashing of the project management roles, clash of personalities, general dissatisfaction amongst the team members with the direction of the project, lack of proper resources and talent on board for the project implementation and many others.
One of the top reasons why most projects will fail is due to the fact that they lack top level managerial support and guidance. Or in simple terms, the top managers are clueless about the specifics of project governance and how to steer projects to success.
The people engaged in steering the project should be trained in governance aspects of it. Projects, whatever their scale, are always geared towards introducing some change in otherwise static organizations. So there is always general inertia which hinders project execution. This inertia or unwillingness to change can only be overcome through leadership. You need a governance team that can put in place the rules and structures which will guide the project on its own momentum.
Project governance by a portfolio management service creates a system that will enable, facilitate, manage and steer the difficult process of the transition brought about by the introduction of the project. Governance systems smoothen the way for successful implementation of the projects. It does so in a way that maximizes the benefits that could be unlocked from the implementation of the project. This is the primary role of governance in the project. Then there is the secondary role which involves a little oversight on the implementation or operations of the project.
The governance of the project should be implemented in a more practical way. In a lot of organizations, it is only a cosmetic exercise that is mentioned but not directly applied in project execution. It is in place and seemingly operational but not effective in directing projects towards stated goals. A thorough project review needs to be initiated in order to come up with effective governance mechanisms which will insure the projects from failure.