I am taking my APMP exam in 3 weeks time. Have started exam papers and looking for feedback please. This is taken from an example paper.
Explain the overall aim of project governance ?
Project governance fills the void
between the board of the organisation and the project environment. It ensures
that the project does not proceed to far or to fast and that the organisations
exposure to risks are managed reducing the exposure of threat based risks to
the organisation. It ensures that only justified projects with a justified
business case can proceed and facilitates the ability to terminate those
projects which no longer align to business strategy.
Explain what each of the 4 components of project governance
seek to ensure ?
Portfolio direction explains how an organisation lifts and
sifts through its projects and programmes to ensure that only those that are
aligned to business strategy of the organisation can continue. For example
within our organisation we hold an annual review of projects and programmes in
which typically 25% of projects / programmes are stopped, which are then
replaced with new projects. Without portfolio direction projects / programmes
may no longer align to business strategy so for example an introduction of a
new product may not meet new green values or standards that the company is
looking to introduce.
Project sponsorship is the commitment and proactive
involvement of those within the sponsoring group or the board of the organisation. Have we got a valid and
justified business case agreed with the sponsoring group. Does the sponsor play an active role in communications.
Are decisions relating to risk made in a timely structured manner. Without
project sponsorship it is likely that the project will drift, risks are not
managed effectively and the project will not delivery to time, cost or quality.
Project Management Efficiency and Effectiveness
Are the project managers qualified to manage the projects on
which they are working. Do they have the pre requisite knowledge of the subject
area (e.g. Construction) and level of experience commensurate with the size and
value of the projects on which they are working. Do they have have the
experience to manage the risks associated with the complexity and importance of
the projects. Failure to ensure this happens can lead to project failures.
Disclosure and Reporting
Across our projects do we have a culture of open and honest disclosure
of facts to the stakeholders. Effective decision making can only be made if all
relevant facts are available. A reluctance by any members of the project to
report issues or changes can lead to poor decisions being made exposing the
organisation to increased risk and potential for project failure.