Analysis of Strategy, Project Selection, and Corporate Governance

This report delves into the critical aspects of strategy and project selection within the context of corporate governance. It begins by exploring the relationship between corporate governance and multi-project environments, drawing upon the work of Too and Weaver. The report then examines portfolio management and its contribution to governance efficiency, highlighting how project management supports effective governance. Key roles of project sponsors are analyzed, alongside mechanisms for aligning sponsors to achieve smart project governance at the organizational level. The report also investigates the vital functions of the Project Management Office (PMO) and its necessity for project governance, concluding with insights into achieving optimal balance across various elements of project management. The report is supported by a comprehensive bibliography of relevant academic sources.

Running head: STRATEGY AND PROJECT SELECTION
Strategy and Project Selection
Name of the student:
Name of the university:
Author Note

1STRATEGY AND PROJECT SELECTION
Executive summary
The study considers the study of Eric Too and Patrick Weaver to understand various analysis
regarding corporate governance. Besides, the method of its contribution to the efficiency of
governance is also demonstrated here. Furthermore, the roles of project sponsors and activities of
projects management offices are also examined here.

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Table of Contents
Introduction:..........................................................................................................................................3
1. Corporate governance and its relevance in multi-project context:....................................................3
1.1. Corporate governance:................................................................................................................3
1.2. The idea of governance in multi-project context:.......................................................................4
2. Portfolio management and contribution towards governance efficiency:.........................................4
2.1. Portfolio management:................................................................................................................4
2.2. The ways in which project management has been contributing to the effectiveness of
governance:........................................................................................................................................4
3. Primary roles for project sponsors and mechanisms used for aligning project sponsors for smart
project governance at organizational level:...........................................................................................5
3.1. Primary roles of project sponsors:..............................................................................................5
3.2. Mechanism used for aligning the sponsors of projects for efficient project governance at the
organizational levels:.........................................................................................................................5
4. Important functions of project management office and reason why PMO is needed for project
governance:............................................................................................................................................6
4.1. Understanding project management:..........................................................................................6
4.2. PMO and project governance:....................................................................................................6
Conclusion:............................................................................................................................................6
Bibliography:.........................................................................................................................................7

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Introduction:
The strategy denotes the making of decision how businesses can compete. The fundamental
task is to assure that the projects can serve the corporate strategy.
In this study, various questions are answered regarding corporate governance and the ways in
which the projects can contribute to the effectiveness of governance. This also includes the roles of
project sponsors, functions of project management office.
1. Corporate governance and its relevance in multi-project context:
1.1. Corporate governance:
As per Eric Too and Patrick Weaver’s article “The management of project management: A
conceptual framework for project governance”, the idea of the current topic or corporate governance
has included various set of relationships. This has been taking place between the management of the
company, board, stakeholders and others. Corporate governance has been providing a specific
structure. This is helpful to set the objectives of the business and attain the expectations and
determining the controlling of the performances. Smart corporate governance must deliver suitable
incentives for the management and board. This is to pursue the aims that are in the company’s
interest and shareholders. This is to facilitate control. Thus the corporate governance is the ways in
which the organizations are controlled and directed. The board of directors is liable for the
governance of the organizations. The roles of the shareholders in governing is appointed. This is to
appoint the auditors and directors along with satisfying themselves that the proper structure of
governance has been in proper place. Here, different liabilities of the current board including the
arrangements of aims of the strategy of the business along with delivering the leadership. This is

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helpful to make them effective. This is to supervise the management and reporting the shareholders
over the stewardship.
1.2. The idea of governance in multi-project context:
The projects, before continuing the section must deliver few definitions of the value,
portfolio, program and project constantly as a part of a discussion, in search of generating value.
This is the temporary endeavor that is undertaken to generate the results, services and products. The
concept of project management is considered as the smart implementation of various techniques,
tools, skills and knowledge to diferent project requirements. Further, the authors have also proposed
that the portfolio, program and project governance is regarded as the sub-set of corporate
governance. Here, the focus has been to assist and assure that the programs and projects are
undertaken for effective change in delivering the utmost value of the business. Thus the project
governance is regarded as the subset of corporate governance. Here, it concentrates in the sectors of
corporate governance. This is related to project and program activities.
2. Portfolio management and contribution towards governance efficiency:
2.1. Portfolio management:
The portfolio manager is seen as the structure of governance. This is adapted for minimizing
the entire expenses of transferring input to output across projects. The portfolio management has
been focusing to select suitable projects and various programs. This is to maintain or beginning. This
is deferring or canceling. For minimizing the costs of transactions that is the sum of every expense to
deploy and govern projects.

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2.2. The ways in which project management has been contributing to the effectiveness of
governance:
Project portfolio management also supports the entire process by balancing the workload.
This is done against the capacity and capability of the organization for undertaking the tasks. This
assures the proper admixture of higher risks with a higher return of projects. This makes the business
compared to secure and important projects having a short period of payback. It assures the data
needed for suitable decisions for making is developed along with uncertainty or e\degree of risk.
This is included in the analysis to understand and has been accepted to the business while balanced
against various anticipated advantages.
3. Primary roles for project sponsors and mechanisms used for aligning project
sponsors for smart project governance at organizational level:
3.1. Primary roles of project sponsors:
The sponsors of the projects denote the clients. They have been acting for the sake of
commissioning at the daily project management. Here, the sponsors are liable for the tasks spanning
the overall life cycle of the project. This is useful for defining business necessities, deploying the
strategy of priorities, making an agreement with the definition of the project. This includes the aims,
making agreements with project definition that involves the objectives and defining the criteria of
project success, constant monitoring of the environment of the project’s business and identifying the
benefits. This also involves the delivery of project during completion.

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3.2. Mechanism used for aligning the sponsors of projects for efficient project governance at
the organizational levels:
This indicates the sponsors are accountable at the upper level of management to direct the
projects having the liabilities. This is to assure that the benefits are identified. The process of
governance is delegated for the project sponsors. Firstly, the process of governance is delegated to
the project sponsors. Next, it is helpful in providing feedback to the governing body and strategic
decision makers.
4. Important functions of project management office and reason why PMO is
needed for project governance:
4.1. Understanding project management:
The overall contribution of PMO is found to be connected to the provision of different
internal experiences of experiences, knowledge of project management and implementing the clear
set of a performance of project progress. With the rise of environments of multi-projects, the
strategic PMOs have come to create competence in a particular project and coordinate various
projects.
4.2. PMO and project governance:
The PMO’s consists of complicated governance support roles for assuring the proper data
available of executive management. These PMOs are vital to maintaining control and visibility of
trends and performances of projects for which they are liable. Any successful PMO has involved
enough discipline and strictness to gain the accuracy of reporting as required.

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Conclusion:
The authors show that smart project governance is thus all about gaining optimal balances
taking place between various elements at every business. This needs to invest to develop the smart
abilities for delivering the functions and seek the proper questions. Few governance processes have
been delegated for the portfolio management team. This is to provide the smart feedback regarding
different strategic decision makers. This includes the governing bodies. This take place on the basis
of particular type of knowledge. This is achieved through smart activities of portfolio management.
This also includes the governing body on the basis of efficiency of activities of portfolio
management. This includes the methods and criteria used in selecting, oversight and end of programs
and projects.

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Bibliography:
Binder, J., 2016. Global project management: communication, collaboration and management
across borders. Routledge.
Brasil, V.C., Gomes, L.A.V., Salerno, M.S. and de Paula, R.A.S.R., 2017. Multilevel approach for
Real Options in the innovation management process: integrating project, portfolio and strategy.
International Research Network on Organizing by Projects (IRNOP) 2017, UTS ePRESS, Sydney:
NSW.
Joslin, R. and Müller, R., 2015. Relationships between a project management methodology and
project success in different project governance contexts. International Journal of Project
Management, 33(6), pp.1377-1392.
Kaiser, M.G., El Arbi, F. and Ahlemann, F., 2015. Successful project portfolio management beyond
project selection techniques: Understanding the role of structural alignment. International Journal of
Project Management, 33(1), pp.126-139.
Too, E.G. and Weaver, P., 2014. The management of project management: A conceptual framework
for project governance. International Journal of Project Management, 32(8), pp.1382-1394.
ul Musawir, A., Serra, C.E.M., Zwikael, O. and Ali, I., 2017. Project governance, benefit
management, and project success: Towards a framework for supporting organizational strategy
implementation. International Journal of Project Management, 35(8), pp.1658-1672.
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scheduling with time-dependent budget limit considering time value of capital. In Proceedings of the

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2015 International Conference on Electrical and Information Technologies for Rail Transportation
(pp. 373-381). Springer, Berlin, Heidelberg.
Wang, X., Bai, S. and Li, S., 2016. Space enterprise strategy guiding-based study on project
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