Transformation Quality Management: Executive Oversight
Of the many factors that influence the value created by a project, executive oversight may be the single most important to shape behavior and drive outcomes. It seems intuitive, the need for executives to monitor project activity, and relatively easy as compared to other things like writing performance reviews. Research groups such as the Standish Group (2015) lists executive oversight among it’s four key skills that enable successful project execution: executive sponsorship skills, emotional maturity environment, user involvement, and optimization services.
Ok, we get it. Executive Oversight of projects is clearly important. But what does ‘good’ look like?
The Executive who sponsors a project is usually the person with the final responsibility for creating value through the project and ‘owns’ the Business Case throughout the life of the project. S/he has the following kinds of responsibilities:
- Oversee the commitments espoused in Project Summary, Project Charter, and Business Case
- Approve financial investments and establishing success measures
- Approve or reject changes to project conditions such as scope, time, quality while balancing value creation considerations
- Drive effective risk and issue management
- Serve as the executive project cheerleader and ensure other leaders maintain awareness of project conditions
- Approve formal closure of the project
- Ensure that lessons learned during the project are indoctrinated back into the organization to the benefit of other projects
- Continue to own value creation following the closure of the formal project