3rd Party Project Governance

Governance

3rd Party Project Governance

“4 eyes” concept is one of the most important practices I learned in my career. It means that all formal communication should be reviewed by another person before sharing it with the intended person. The more I practiced this concept, the more benefits I experienced. 

The “Project Governance” is based on the same  concept of the “4 eyes”. Project Governance ensures that you are not only being reviewed for all the activities but also getting advice and support at every step. It is just like passing every activity through a reliable filter. 

One question is often raised: why 3rd Party Governance? Why not get the same benefit internally from the PMO or a senior resource? There are often two reasons I highlight for hiring the 3rd party consultant for the Governance role; the first one is that all the internal resources are always bound to follow the company strategy and thus are inclined towards the employer. As compared to that the Consultant is solely focused on processes and best practices. 

The second reason I share is that the experience, in terms of industry domains and working on different projects with different dimensions and challenges, of the consultant is always by far the most important and unique factor that often is missing or exists at much lower level if we consider the internal resources. 

Having 3rd party Governance is just like having an elder brother to guide and look after you during each step as well as to support you if anything doesn’t go as planned and also to guide and help you to get out of that situation. Another good thing about having a good consultant, by your side, is that they are generally not just a single person but actually a group of experienced specialists working for you even on the things which a manager is generally performance alone. The most important agreement of having a consultant is that it helps in effectively managing those risks as well which lacks attention or visibility when an internal manager is managing the project. 

For example, Organizational Governance Management Consultants (OGMC) has experience of working in both Public and Private sector, They have worked in many verticals for local as well as International clients. They not just have experience but also full command over the multiple methodologies, processes and frameworks. So hiring such a consultant, for any of their services, will mean that you are actually using all the experience and exposure they possess. Another practical aspect of having a consultant is that you can always use their services as per your need and will be only billed for those services only. 

Some experts may argue that having an external consultant may add reasonable cost to the budget. But my argument is that the cost added to the budget, due to engaging an external consultant, is the direct cost that is visible to everyone upfront. When you compare that cost, for a completed project, you will agree that utilizing services of a professional external consultant actually had much more savings as it effectively saved from the unplanned costs that occurred due to things which the consultant helped save. 

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