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2.3 Having effective governance arrangements

By their nature projects are time-limited activities. This means that they can be more complex to govern, as they may fall outside the normal governance arrangements of an entity. The planning and approval of projects is likely to be assisted by having governance arrangements suited to all stages of the project lifecycle discussed in Chapter 1 – planning, approval, implementation and operations. Relevant issues include:

• approval roles and processes being appropriately defined, and involving suitably broad representation, to provide effective assurance and accountability during assessment and decision-making;
• project priority-setting, to help make decisions – including between different projects in the context of limited resources;
• accountability and authority arrangements for projects;
• data stewardship arrangements to protect and make good use of this important asset;
• support for projects in the entity’s financial management arrangements; and
• entity arrangements for monitoring and reporting of projects.

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