Without Governance it's like learning to fly without an Instructor[dropcap]T[/dropcap]o us, Governance is about creating and adding value. Ideally governance is established at the start, however, formal governance processes can be added at any time to help focus the future.
Corporate or Project Governance
Exists for a purpose and that is to help the company/project achieve it's fundamental purpose as articulated and subscribed to by the stakeholders and shareholders.
An example of how effective governance can help:
a Client approached us to discuss a project that had spend 75% of its budget but was only 55% complete. We formed a project board and systematically reviewed status, financials, controls, effort, the objectives, roles/responsibilities and project charter. The Project Board was given the right to define the path forward and/or cancel the project. Cancelling would right-off $2.7m, so was going to have consequences. The Project Board saved the project, however, everything changed:
- A new Project Charter was developed
- Everyone on the project was accountable and agreed to take the right levels of ownership
- The project deliverables were refined and focused on measurable outcomes
- The budget was controlled and expenditure managed
- Some project resources changed
- The project was completed on budget suggesting that the initial budget was overly generous
Successful Governance is borne of experience
We are often asked if a manager would make a good board member (both company and project), our response is always the same (quoting the Institute of Directors):
"Effective and successful directors need to combine entreprenurism and risk taking with professionalism and integrity. Legal compliance and pursuit of best practice in all aspects of their governance role is the basis which the director provides leadership and adds value"
Better Business by Design staff are all governance practitioners. As professionals we cannot afford to employ team members who do not reach the standards consistent with our Corporate objectives. Contact us to discuss how our Governance services can help your business,