Governance Notes: Definitions & Explanations PDF | Download eBooks
Study Governance lecture notes PDF with project management definitions and explanation to study What is Governance?. Study governance explanation with project management terms to review project management course for online MBA programs.
Governance Definition:
Governance is the framework within which authority is exercised in organizations.
A Guide to the Project Management Body of Knowledge by Project Management Institute
Governance Notes:
The general meaning of governance is the way of ruling or controlling. People responsible for running an organization must define some actions and controls in order to effectively run the business. Organizations tend to develop a governance framework for this reason. This governance framework enables the organization to exercise authority. The governance framework include rules, policies, procedures, relationships, norms, processes etc. Developing governance framework impacts the manner in which organization's objectives are set and accomplished, risks are identified, assessed, analyzed and monitored, and performance of the organization is optimized. No single governance framework is effective in all situations. Governance frameworks can be modified depending upon the organizational structure, culture and organization's needs.
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