APMP STUDY NOTES

1.2 PROGRAMME MANAGEMENT

COORDINATED MANAGEMENT
COMMON
STRATEGIC GOAL
BAU
PM PM
Contribute
Project Project
Inter-related
PM
Project

Strategic
Programme Tool
Manager
Corporate Project
Projects
Management
PM PM PM
 1.2 PROGRAMME MANAGEMENT

BENEFITS
RESPONSIBILITIES
Irreckon

I Interdependencies SB Strategic Benefits

R Resources BiRD Benefits to achieve

Requirements to be met
R - Risks Deliverables to be produced

E - Economies of Scale I Integration of projects + Interdependencies

C - Communication Routes RPC Resources, Priorities, Conflicts

RIC - Risks, Issues, Changes

 1.3 PORTFOLIO MANAGEMENT

SELECTION & MANAGEMENT off ALL

May NOT be inter-related

Programme And When
BAU Programme

Project Project
Project
Management of Resources R RvR ITR

R Resources

R - Risks vs Returns BAU profit or project

I - Improvements lessons leant, feedback

T Technology same throughout

R- Responsiveness closer to customers, market,

react quicker
 1.3 PORTFOLIO MANAGEMENT
Portfolio management is the selection and management of all of an organisations projects, programmes
and related business-as-usual activities, which may not be interrelated. If defines when they take place
and is particularly interested in the management of resources

A portfolio is a group of projects and programmes carried out under the sponsorship of an organisation.

4 Commom Aspects

Screening, analysis and financial appraisal of project and programme characteristics in relation to the
organisation strategy;

Prioritisation and/or selection of projects or programmes, given the resources available, and likely
returns and risks;

Continued monitoring as projects and programmes develop;

Adjustment of the portfolio in the light of developing circumstances around the portfolio.

Portfolio management is particularly concerned with the interdependencies between projects and
programmes in terms of:
scarce or limited resources;
balance within the portfolio between risks and return;
Timing;
capacity bottlenecks.
 1.4 PROJECT CONTEXT

Government Policies Other factors to consider are :

P Political organisational capability and
TAXation
maturity,
structure and processes ,
E Economic Credit Crunch individual resource
Exchange Rates/ Interest Rates capability and availability.

S Sociological Fashion
Population changes

T Technological New, obsolescence,

eCommerce

L - Legal / Regulatory new laws,

employment laws and restrictions

E - Ethical/Environmental Pollution
Job losses
3rd World exploitation
 1.4 PROJECT CONTEXT

Projects do not exist in a vacuum , the environment in which they are

undertaken is known as the CONTEXT. An appreciation of the context the project
is being performed in will assist the management of the project.
The context can have Internal and External influences on the project.

4 Elements

Internal - Resource availability

External - Technology , new, obsolescence, e-Commerce

- Legal new laws, employment laws and restrictions

- Economic Exchange Rates, interest rates, credit crunch

 1.5 PROJECT SPONSOR
Is an active Senior Management role. Responsible for indentifying the business need.
Ensure project remains viable & benefits are realised, resolving issues outside the control
of the PM.
Sponsor is Primary Risk taker, acting on behalf of the project stakeholders

Owns Business Case, responsible for its completeness and thoroughness so

the board can sign it off.

Ensures Benefits are achieved & ensures obstacles are dealt with

Authorises Phases and Changes

Provide strategic Link to Corporate management

Business leader and decision maker who is able to work BLARB

across functional boundaries within an organisation;
Advocate for the project and the change it brings about; Business Case
Commits sufficient time and support to undertake the role; Link to Corp
Authorises
Experienced in project management to be able to judge Risk Taker
whether the project is being managed effectively. Benefits Realised
 1.6 Project Office

A project office serves the organisations project management needs. A project

office can range from simple support functions for the project manager to
being responsible for linking corporate strategy to project execution.

Allocates PM resources to projects and is responsible for the development of

the PMs

Provide expertise to projects on tools, techniques and provides information

Enables / Drives lessons learnt and improvements

Provides support to enable the Sponsor to focus on business decisions & to

concentrate on exception management.

Develops and maintains standards, processed & methods

 2.1 Project Success & Benefit Management

Success factors is the project a success ? Met Time

To Quality
To Cost
elements of context that increase likelihood of success

Benefits Does it benefit the Business, make a profit ?

normally comes later after project finished,
e.g. market share, improving security, increasing staff satisfaction

Success Criteria is the Qualitative or Quantitative measures by which the success of

the project is judged.

Benefit is the measurable improvement resulting from project

KPI Measures of success that can be used throughout project to ensure it is

progressing successfully.
2.1 Project Success & Benefit Management - 5 uses of Success Criteria & KPIs
Success Criteria are developed during
the Concept phase and support the They provide focus for the planning of
Business case. the project and setting realistic
They are agreed with by Stakeholders objectives.
and represent what constitutes success.
They support project Authorisation. They aid the flow down of objectives

Concept
Planning

Reviews
During stage reviews they are used to Handover
determine/measure how the project is & Closeout
performing against its objectives, During Handover & Closeout they can
providing feedback to Upper be used to demonstrate success. And
Management & Stakeholders. Changes to achieve progress sign off.
Support go/no go checks They can be used later to ascertain
whether planned benefits were
achieved.

They can be used for change

evaluation, the impact of a change
must be established & understood by
all stakeholders. If accepted a formal
change control process must be
followed
 2.2 Stakeholder Management
5 Elements of a Stakeholder Analysis Process
1) Identify Identify Stakeholders with an interest in the project. May be internal or external to the
business.
Brainstorm & research

2) Levels Establish levels of interest & influence/power on the project.

3) Priorities The various interests and power levels need to be evaluated to establish their potential
impact on the project.
Against For
high

Power

low
- Interest +
Establish blockers and backers and prioritise those who have the greatest power & interest (
whether +ve or ve.

4) Action Plans Develop an action plan and implement it to deal with each stakeholder appropiately.

5) Monitor These plans are monitored and controlled to ensure effectiveness.

The process is continuously applied, especially at phase boundaries where stakeholders
interest & power can change
 2.2 Stakeholder Management
Stakeholder management is the systematic identification, analysis and planning of
actions to communicate with,
negotiate with and
influence stakeholders.

Stakeholders are all those who have an interest or role in the project or are impacted by
the project.

Potential stakeholders may identify:

resources needed for the project;
organisations or people who will be affected by the project;
organisations or people on the sidelines of the project who will influence
attitudes and behaviours;
statutory and regulatory bodies.

Questions to consider are as follows:

Do they have an interest in the project succeeding?

Will they be openly supportive of the project as it progresses?
Is the stakeholder ambivalent about the project?
Could the stakeholder have a negative view about what the project will deliver?
What are their expectations and how can these be managed
 2.4 Project Management Plan

The PMP provides a baseline definition of how a project will be managed. The PMP
contains various plans on how the project will be implemented, success criteria, role &
responsibilities and many more factors.
It is owned by the PM, authorised by the Sponsor and developed with the project team,
aiding their buy in.
It is the Why, What, How, Who, When, Where and How Much

4 policies Change Control

Project Plan
Communications Plan
Procurement

5 actions a PM takes to prepare a PMP

1. Why. To understand business case and why the project is needed
2. What. To define What has to be achieved, Scope, success criteria, KPIs, deliverables
3. How. Develop the strategy of How the project is to be undertaken, WBS,PBS, Tools &
techniques, project control, plans.
4. How Much. To produce estimates and budgets.
5. Who. Define Roles and Responsibilities
 2.4 Project Management Plan

The PMP provides a baseline definition of how a project will be managed. The PMP
contains various plans on how the project will be implemented, success criteria, role &
responsibilities and many more factors, and is a reference document for the project.
It is owned by the PM, authorised by the Sponsor and developed with the project team,
aiding their buy in.
It is the Why, What, How, Who, When, Where and How Much

4 policies Change Control

Project Plan
Communications Plan
Procurement

5 actions a PM takes to prepare a PMP

1. Why. To understand business case and why the project is needed
2. What. To define What has to be achieved, Scope, success criteria, KPIs, deliverables
3. How. Develop the strategy of How the project is to be undertaken, WBS,PBS, Tools &
techniques, project control, plans.
4. How Much. To produce estimates and budgets.
5. Who. Define Roles and Responsibilities
 2.5 Risk Management

Initiation step to define scope & objectives

INITIATE M
A
Identification to identify all significant risks that may N
impact the project objectives and gather information A
for analysis IDENTIFY G
E
Analysis Qualitative Quantitative
methods to methods to ASSESS P
determine determine
probability & combined effects R
impact of each of uncertainties O
risk. Can and risk PLAN C
prioritise them. RESPONSES E
Response S
Appropriate responses are considered and selected on S
the basis of overall benefit. Responses aim to Avoid,
IMPLEMENT
Reduce, Transfer, Accept the risks with a contingency
action. RESPONSES
Reviews,
Execute agreed responses. Audits,
learning,
Improvements
Is an Iterative process
 Workshops Useful for integrating inputs
2.5 Risk Management
5 Techniques for Identification
Workshops
Post Project Reviews
Check lists & Prompt list
Brainstorming
Assumptions analysis
SWOT analysis
Interviews
Cause & Effect
SWOT This is a specific brainstorming
activity using Strength,
Weaknesses, Threats and
Opportunities as main focal Interviews with stakeholders & experts to
points. This technique
encourages big picture view.
from different stakeholders & experts.
Deals with complex situations with
interdependencies between risks
Brainstorming This is an open forum where
group members identify risks and then
rank them.
Useful for similar situations, and good
for team building
Check lists Team go through checklists to
identify risks. The lists consist of
structured questions and is useful for
gathering information.
Reduces the need for experts.
identify risks and possible responses.
This is relatively quick and
inexpensive and often provides
information on preventative actions
 2.5 Risk Management

4 Responses to Top Priority Risks

Avoid - An alternative approach is taken to avoid the risk

Transfer - Assign contractual responsibility to another stakeholder who is

better place to manage the risk.

Reduction - Proactive measures to reduce likelyhood, impact or both. Ideally

reduction measures should be taken for high level risks.

Acceptance - Where the risk impact is low or the cost of mitigation is too high.
NOT FOR TOP PRIORITY RISKS !

Contingency - A fallback plan that will be implemented if the risk occurs.

Additionally we can add an allowance in estimates for events that
cannot be predicted.
 2.5 Risk Management

4 Actions of a PM in Preparing Responses to Top Priority Risks

1. Involve team and experts to generate responses to risks

2. Cost out the actions and analyse the benefits

3. Apply resources & establish ownership of actions

4. Obtain authorisation if necessary

All projects are inherently risky, because they are unique, constrained, complex, based
on assumptions and performed by people.

Exploit, enhance, share or accept opportunities,

 2.6 Project Quality Management

Is the discipline that is applied to ensure that both the outputs of the project and the
processes by which the outputs are delivered meet the stakeholders needs.

Project Outputs & Processes thereof meet stakeholder needs

Quality Planning Identifying which Q standards are relevant and how to

apply them to ensure required quality is achieved.
Output is Q Plan ( part of PMP ), provides guidance
to stakeholders on how Q management will be performed.
Includes :- Stakeholder expectations
Success Criteria
Standards
How Q will be Assured

Quality Assurance Verifies work is being done in accordance to procedures

Pre planned Reviews and Audits
Provides confidence to stakeholders that project will satisfy Q
requirements & standards
Provides valuable information for lessons learnt & improvements.
 2.6 Project Quality Management

Quality Control. Checks projects results comply with standards & specifications.
Take corrective action to eliminate causes or address unsatisfactory
performance.
Conforms to spec, fit for purpose and meet stakeholder needs.

Inspection, testing, trials - verify deliverables fir for purpose, meets

stakeholder needs.

Continuous Improvement The process of improving Q by incremental changes, from

lessons learnt.
Focus is on specifying requirements tightly and meeting them
effectively & efficiently as possible.
Approaches include TQM, 6 Sigma.

Quality is broadly defined as fitness for purpose

Quality management : Outputs of Project and process by which the outputs were
delivered meet stakeholder needs.

3 Tools to help :- risk management, modelling and testing , and configuration

management
 2.6 Project Quality Management

How a PM ensures Q Requirements are met

1. Standards Ensure team know standards, specifications

2. Procedures Ensure team know procedures, train them

3. Roles & Responsibilities Make team aware of their roles & responsibilities for
carrying out Q Management actions.

4. Monitoring and Control To ensure product quality is being adhered to as per Q

Plan.
Ensure outcomes of audits are acted upon

5. Change Control in place

 2.7 Health & Safety & Environmental Management

Health, safety and environmental management is the process of determining and

applying appropriate standards and methods to minimise the likelihood of accidents,
injuries or environmental impact both during the project and during the operation of
its deliverables.

5 PM actions to comply with Health & Safety Legislation

1. Training Awareness of safe working practices & safety information

2. Safety Equipment Staff awareness & training on using safety equipment

3. Tools & Equipment Regularly checked and safe to operate

4. Risk Assessments Identification, analysis & responses to hazards

5. Accident Book Accidents & Incidents involving safety are

Documented,
Reported,
Evaluated &
Acted upon
 2.7 Health & Safety at Work Act 1974

To secure To protect OTHERs from risk

Health arising from activities of
Safety People at Work
Welfare of
People at Work

AIMS

To Control emissions To Control the Use &

into atmosphere of Storage of Dangerous
noxious or offensive Substances
substances
 2.7 Health & Safety & Environmental Management

4 Specific Duties of Care

1. Training Staff given adequate training to do their job

2. Safety Equipment Staff aware of after

equipped with & extra
trained to time
use appropriate safety & protective equipment

3. Tools & Equipment Regularly checked and safe to operate

4. Risk Assessments Are conducted Identification, analysis & responses to

hazards
 3.1 Scope Management

Scope Management involves the identification and definition of the deliverables and
work to produce them.
IN / NOT IN
The scope must define what is included and what is not included

Scope management is continually applied throughout the project life cycle.

4 Actions a PM takes to produce Scope

1. Define deliverables -> PBS

2. Establish WBS to achieve above. Define inputs & outputs, determine resource
3. Cost up each WP, with team.
4. Identify and evaluate assumptions made
 3.1 Scope Management

PBS Product Breakdown Structure Hierarchical breakdown of products

produced by project

WBS Work Breakdown Structure Hierarchical structure showing tasks to

be undertaken by project.
Lowest elements are called work
packages.

OBS Organisation Breakdown Structure Shows role titles

PM

TL TL

TM TM TM
SL

TM TM TM

RAM Responsibility Assignment Matrix Accountability, role,

responsibility of team

CBS Cost Breakdown Structure

Diagram of WBS

Work Packages are lowest

level of any branch

Benefits of Structures in Planning and Controlling Projects

1. Helps define Schedule on which whole project is built

2. Defines objectives and maintain focus
3. Assigning Resource & responsibility
4. Managing Cost
5. Monitoring Progress
 3.2 Scheduling

Process to determine overall project duration and when activities and events
are planned to happen.

2 Methods :- Gantt Chart

Network Diagram

PERT - Programme Evaluation Review Technique uses 3pt estimates

3.3 Resource Management

Resource Levelling :-
Two Types of Resource:-
Resource Allocation
Resource Smoothing
Resource Aggregation
Schedule work not to exceed resource limit, may extend
duration
Replenishable fresh supplies, eg. Raw materials
Re-usable When finished, become available, eg. People
Mapping resources to tasks
Resources used efficiently, does not affect duration
Summation of resources against time
 3.4 Budgeting & Cost Management

Estimate Cost, Agreeing budget, management of actual vs forecast

Commitment:- Value of orders placed for work to be done

Accrual:- Work done, payment is due
Actual Expenditure: Actual costs, money paid
Forecast out-turn cost:-
CAC = Total of Actuals + Accruals + Committed + Estimated CTC

Phase budget over time used in project financing and funding: allows cash
flow forecast & drawdown of funds to be agreed.

Concept Definition Implementation

Estimate
Initial refined (=BAF ) Monitored
Estimate Risks & Estimate EVA
Contingency agreed by
Business Case added Sponsor
Investment Budget Set
Appraisal Allocated to
WPs
 3.5 Change Control
Is the process that ensures all changes made to a projects baselined Scope T,Q,C or agreed
benefits are Identified
Evaluated
Approved, Rejected or Deferred
5 Features of a Change Control Process

1. Request Come form any stakeholder

Entered in a log
Changes may be External stakeholders, may be subject to
contract conditions
2. Initial Evaluation Reviewed to consider if it is worth while evaluating in detail
Evaluation of change as a deviation itself from project plan.
Change may be rejected.

3. Detailed Evaluation Consider impact on Scope, T, Q,C, agreed benefits. T

4. Recommendation To Approved, Reject or Defer

Q C
Sponsor has authority, Communicate outcome

5. Update Plans If change approved, all plans are updated to reflect the change

6. Implement Necessary actions to implement change are undertaken

 3.6 Earned Value Management
Prerequisites

1. A work breakdown structure (WBS) to define the work.

2. Responsibilities for work defined in an organisational breakdown structure (OBS)
3. The budget distributed in the WBS.
4. All authorised work scheduled.
5. A method of measuring achievement.
6. The budget phased over time against the schedule to provide a profile of
expenditure.
7. Baselined plans
8. Costs Recorded , coast identified as either direct or indirect costs, and all direct costs
recorded.
9. Performance data collected and analysed on a periodic basis.
10. Forecasts for the remaining work produced.
11. Changes to the baseline managed through a change control process
 3.6 Earned Value Management
Five Benefits from using Earned Value Analysis in projects

1. Performance Measurement Provides ongoing performance measurement.

Useful for PM to focus attention.
Can compare with other projects

2. Variance and trend analysis Shows deviations from baseline, in terms of cost
and schedule ( good and bad )
Can plot SPI & CPI and others to show trends in
performance

3. Predicts CAC & End date Gives advance notice of possible over/
under spend useful for financial management
Gives a predicted end date, useful for resource
management

4. Improves Estimates History of actual spend on tasks helps improve

estimating accuracy of current and future tasks

5. Provides triggers for escalating problems & highlighting successes. Upward Feedback
Could use trend lines.
6. Information to assess whether corrective actions are required.
 3.8 Issue Management

Is the process by which concerns that threaten the project objectives

and cannot be resolved by the project manager are identified and removed.
Escalate to sponsor or higher. If not project may fail or effect objectives.

4 Actions Two Common Failings:

Capture 1. Wrongly identifying project problems as issues that

T are the responsibility of the project manager. This
diverts attention away from handling genuine
Impact on issues;
Q C 2. Failing to FURTHER escalate an issue when not
resolved.
Escalate
Issue = Threat to project objectives that cannot be
resolved by PM
Monitor
Issue resolution -> Project Steering group
 4.1 Requirements Management

Process of capturing, analysing and testing the stakeholder and user wants and needs.
Requirements should be comprehensive, clear, well structured, traceable and testable.

The primary factors:

Value Size of the benefit associated with each requirement.

Priority Stakeholders agree the priority ordering of requirements.
Time Time imperatives drive the ordering of the requirements.
Process How the solution is to be built, particularly important where subcontractors
will be used to build some components

CADET

Capture needs
Analyse value, priority, time, process
Define, resolved conflict, document
Evaluate design meets requirements
Test meets requirements
 4.3 Estimating Techniques

Bottom Up Estimating
This method is based on the WBS. All the individual lower level tasks in the WBS are
estimated independently and then rolled up to produce the project estimates. Time
consuming. Accurate. Best done in definition phase when information more accurate.

Comparative Estimating
It takes the overall costs and timescales for similar projects and adjusts them for size and
complexity simply involves using experience. Needs historic data. E.g. time taken to lay
pipe. The danger is that previous projects may have been inefficient, badly managed, or
circumstances may be different e.g. laying pipe in different terrains.

Parametric Estimating
Parametric estimating uses a mathematical model or formulae to produce project
estimates based on input parameters. It is usually based on historical data. Quick to
produce once set up.
 4.3 Estimating Techniques

How estimates vary through project lifecycle.

Concept
Definition
Implementation
Handover
Accurate Better Estimates Estimates
estimates estimates refined by almost
difficult due when performance certain since
to lack of planning feedback mainly based
information takes place on actual /
known
information

An Estimate is an approximation of time and cost

3pt estimates allow for variation in estimates

 5.1 Business Case
Provides justification for undertaking a project, in terms of evaluating the benefit, cost
and risk of alternative options and rationale for the preferred solution.
Its purpose is to obtain sign off ( management commitment and approval for investment
in the project). Owned by the sponsor.

JCBDIG

J Justification for project, explains link to corporate strategy. Used to optain

authorisation
C Criteria details project success factor, used to judge success by stakeholders
B Benefits details the benefits anticipated as a result of the project
D Deliverables details a schedule of key deliverables, their purpose and a high
level description of project scope
I Investment Appraisal analysis of different options, including do nothing.
Provides financial benefits, costs, payback.

Schedule
Risks
Assumptions
Constraints;
Dependencies;
 5.1 Business Case Investment Appraisal
Payback Time taken to recover initial investment. Longer Payback, increased
risk. Shows cash flow situation. Useful for comparing options
where levels of initial investment and time taken to recover are
important. Can compare projects with different paypack.

NPV Net Present Value Provides a realistic estimate for future returns
and profit using discounted future values to bring them into present
day values. Can compare projects or options with different levels of
Investment,
Cash flow profiles
Timescales

IRR Internal Rate of Return Discounted Rate that produces an NPV of

Zero.
Used to compare value of project with alternative returns on
investment, such as bonds.
Needs adjustment to allow for different levels of risk in projects.
 5.1 Business Case
Why Sponsor must own business case

The project manager will usually hand over responsibility for the project when the
deliverables have been formally accepted. At this stage the business benefits, defined in
the business case, have yet to be realised. As the sponsor owns the benefits realisation
he should also be responsible for making the business case for the project

The sponsor provides the link between the project and corporate management who
determine corporate objectives. Every project must be aligned to corporate objectives
hence the sponsor is best placed to ensure that the business case supports corporate
objectives.
 5.1 Business Case Investment Appraisal
5 limitations of Investment Appraisal techniques

Financial methods will not address:-

1. Operational Survival - a project may be needed for operational survival, e.g.

cheaper manufacturing costs, millennium bug.

2. Competitive Survival may need to defend or improve competitive edge to survive,

regardless of financial benefit. Or an new opportunity may arise, = life tag.

3. Quality of Estimates. The investment appraisal techniques are based on estimates of

future in terms of sales, revenue, savings etc. These are a judgement of people and
may not reflect actual outcome.

4. Environmental Factors - Financial methods cannot determine factors in the

environment that may change. PESTLE, legislations, obsolete technology.

5. Stakeholder influence not all stakeholders may be interested in financial aspects,

for instance a new hospital.
6.1 PROJECT LIFE CYCLES
 6.1 PROJECT LIFE CYCLES

MMERR

Benefits MMERR

Manageable Chunks

Major Review Points

Estimating Accuracy

Rolling Wave Planning

Risk
 6.5 Handover and Closeout
Explain the Handover Process

1. Marks the end of the Implementation stage, where the project enters into its
operations environment. The process of handover starts with defining a plan which
will state the process, objectives and may include training, support.

2. The achievement of deliverables are demonstrated, making sure they match

acceptance criteria and that they are accepted.

3. The sponsor formally accepts responsibility for the project and must then ensure
business benefits are achieved.

4. Deliverables are physically delivered to operations and users, including

documentation and are accepted.

5. Training and Support Infrastructure are set up and provided. Ensure product start up
and commissioning.
 6.5 Closeout

Finalising all project matters.

Carry out Post Project Reviews.
Re-deploy team

PM Should:

Surplus material should be disposed of

All contract and Purchased orders are finalised
All project accounts are finalised
All documentation archived
Carry out Post Project Reviews.
Performance appraisal of team.
 6.6 Project Review
Checks likely or actual achievement of objectives specified in the PMP and benefits in
business case.
Reviews include : Gate Reviews, Post Project Reviews, Benefits Realisation Review

Post Project Review - Independent facilitator chairs

HELPP

History - what went well, what went wrong

Estimates How did actuals compare with plan, how good were estimates

Lessons Learnt Draw up lessons learnt, recommendations for improvements

T
Performance against success criteria and
Q C
how well did team perform recognition

Performance of PM - Risk, change control, quality, co-ordination

 6.7 Organisation Structure

Functional Organisations

Advantages
 6.7 Organisation Structure

Project Organisations

Advantages
 6.7 Organisation Structure

Matrix Organisations

Advantages
 6.7 Organisation Structure

Strong Matrix Organisations

Advantages
 6.8 Organisational Roles
5 ROLES IN PROJECTS

Corporate Management Authorisation

Risk Exposure check
Strategic Overview

Sponsor Owns Business Case

Delivering Benefits
Link to Corporate management

PM Controls & Coordinates

Produces deliverables
Achieving TQC

Users Requirements & Definition

Product Review

Team Does the work

Help plans the work feas report.
 6.10 Governance
Ensures that an organisations project portfolio is :-
aligned to organisations objectives
delivered efficiently
sustainable

Governance of Project Management is a subset of Corporate governance