Governance has become a more widely used term in recent years to the point that common usage now implies a strong personal responsibility as well as a role of authority. Governance refers to a set of policies, regulations, functions, processes, procedures, and responsibilities that define the establishment, management, and control of projects, programs, and portfolios. As per PMI-PMBOK: "Project governance provides a framework in which the project manager and sponsors can make a decision that satisfies both stakeholder needs and expectations and organizational strategic objectives or address circumstances where these may not be in alignment."
With project governance in place, the decision-making and escalation steps to resolve issues are easier to follow. It describes the flow of information between the project and all stakeholders...
