When a company embarks on a transformation program, project governance is paramount in order to stay on course and ensure continued alignment with the overall strategy. Some companies create new entities to manage the transformation, while others use existing departments. Whatever the selected solution, governance is a key issue for every company when it comes to successful transformation.
The first session of the 2019 Inside Success Lab once again gave our members an opportunity to discuss good practice with respect to steering bodies, managing multiple projects and measuring performance.
Below you will find a summary of these discussions.
1. Steering committees: challenges and requirements
Amongst the examples of good practice that were presented regarding steering bodies, we noted the following initiatives:
- Meeting frequency: weekly
- Members: at least one member of the management or executive committee, the transformation management team, project sponsors, project managers, HR and IT department
- Purpose: to steer the portfolio of projects, establish a connection between them, set out the success criteria, escalate any problems and record project-related decisions
Project steering committee
- Meeting frequency: monthly
- Members: project sponsor, project team and possibly transformation management team
- Purpose: steer project and analyze any signs of weakness