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Level: Advanced
TCM Section(s):
7.1. Project Scope and Execution Strategy Development
4.1. Project Implementation
Venue: 2020 AACE International Conference & Expo
Abstract: “Effective project governance, within corporate governance framework, has become a serious concern for organizations” (Crawford, Cooke-Davies, 2005). A research was conducted to evaluate the current understanding of project governance in the construction industry, recognize the current governance practices, and evaluate the existing project governance structures. Findings of the research revealed various levels of understanding of project governance and a range of governance structures in practice within industry. In this paper a new project governance model is proposed. The model recommends project owner organizations to reorganize their project governance structures, improve their policies and procedures, develop tools that support project governance, make it mandatory for project personnel to follow governance procedures, improve the governance role of project management office (PMO), do audits for compliance, keep processes updated, and use lessons learned. The results of the focus group survey, conducted to validate the new governance model, revealed an overall agreement from industry professionals. The researcher concludes that the new governance model applied proficiently will help project owners improve governance, oversight and project predictability for major construction projects.
TCM Section(s):
7.1. Project Scope and Execution Strategy Development
4.1. Project Implementation
Venue: 2020 AACE International Conference & Expo
Abstract: “Effective project governance, within corporate governance framework, has become a serious concern for organizations” (Crawford, Cooke-Davies, 2005). A research was conducted to evaluate the current understanding of project governance in the construction industry, recognize the current governance practices, and evaluate the existing project governance structures. Findings of the research revealed various levels of understanding of project governance and a range of governance structures in practice within industry. In this paper a new project governance model is proposed. The model recommends project owner organizations to reorganize their project governance structures, improve their policies and procedures, develop tools that support project governance, make it mandatory for project personnel to follow governance procedures, improve the governance role of project management office (PMO), do audits for compliance, keep processes updated, and use lessons learned. The results of the focus group survey, conducted to validate the new governance model, revealed an overall agreement from industry professionals. The researcher concludes that the new governance model applied proficiently will help project owners improve governance, oversight and project predictability for major construction projects.