The critical elements of successful project execution are People, Process, Technology, and Governance. Success is consistently delivered when all of these dimensions are well defined, fully implemented, well-managed, and fully adopted. They must be both adopted individually and integrated together to enable each other for success.
This post will cover half of these, Technology and Governance.
In our Information Age, efficiency and efficacy is often defined by the Technology an organization has. It starts with picking the right technology for your organization. Click here to read an entire post dedicated to “Which Project Management Software Is Best for Your Organization.
Once the technology is selected, it needs to be implemented. This is the aspect that every organization knows to place an emphasis on. What often gets overlooked is adopting it within the organization, integrating it with the People and Process.
The business and functional requirements for a technology solution needs to be synchronized with the time-phased Maturity Model, as seen below:
Governance has two prongs of attacks:
- Successful execution of the projects themselves, and
- Compliance to the overall process for how projects should be executed and delivered. In other words, this the formal process of Change Management, or as we described in the Strategy section, how you “change the way you change.”
There needs to be a well-defined set of KPIs for ensuring alignment of results of execution against the business cases that were defined at the portfolio level. You might meet the specs, but the results still needs to be held against the business case—for example, if the market changes. There needs to be a on ongoing execution governance body, such as a steering committee, ensuring that the project is continuing to be held against the current environment, updating risk assessments, and so forth.
A well-articulated governance process does not automatically do the governing. The process of effectively governing a project during execution is also not a native competency for steering committees. The governance process and the governing body must harmonize for proper governance to take place.