What is Project Governance? Project Management in Under 5

The video tutorial explains project governance by exploring its roots and defining its three main roles: setting direction, making decisions, and providing oversight. It further details the four components of project governance: project board, project sponsor, terms of reference, and stage gate process. The importance of project governance in ensuring transparency, accountability, and organizational safety is emphasized.

What is one of the primary roles of project governance?

• To design the project logo

• To manage the project's budget

• To set the strategic direction of the project

• To hire project team members

Who typically makes the day-to-day decisions in a project when there is no project board?

• The project manager

• The project sponsor

• The project team

• The project client

What is the purpose of the terms of reference in project governance?

• To list the project's milestones

• To define the roles and responsibilities of governance players

• To describe the project's technical requirements

• To outline the project's budget

What is a stage gate process in project governance?

• A method to allocate project resources

• A strategy to market the project

• A process to review the project at key points

• A technique to train project team members

Why is project governance crucial for an organization?

• It guarantees the project aligns with organizational goals

• It reduces the overall project cost

• It ensures the project is completed on time

• It helps in recruiting the best project team