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Project governance is the management framework within which project decisions are made. Project governance is a critical element of any project since the accountabilities and responsibilities associated with an organization's business as usual activities are laid down in its organizational governance arrangements; seldom does an equivalent framework exist to govern the development of its ...
In business and project management, a responsibility assignment matrix [1] (RAM), also known as RACI matrix [2] (/ ˈ r eɪ s i /; responsible, accountable, consulted, and informed) [3] [4] or linear responsibility chart [5] (LRC), is a model that describes the participation by various roles in completing tasks or deliverables [4] for a project or business process.
Project sponsorship is the ownership of projects on behalf of the client organization. [1] There are two main differences between project sponsorship and project ...
The term project owner is sometimes used for describing the project executive. However, the term project owner is ambiguous, since it can refer to various different roles, such as the project sponsor , or a team including the sponsor, project champion and the owner's project manager, or simply the customer.
Executive sponsor (sometimes called project sponsor or senior responsible owner) is a role in project management, usually the senior member of the project board and often the chair. The project sponsor will be a senior executive in a corporation (often at or just below board level) who is responsible to the business for the success of the project.
The owner (usually the public sector) operates the facility. This model is in the middle of the spectrum for private sector risk and involvement. [75] Design–build–finance–maintain–operate (DBFMO) Design–build–finance–operate is a project delivery method very similar to BOOT except that there is no actual ownership transfer.
Project finance is the long-term financing of infrastructure and industrial projects based upon the projected cash flows of the project rather than the balance sheets of its sponsors. Usually, a project financing structure involves a number of equity investors, known as 'sponsors', and a 'syndicate' of banks or other lending institutions that ...
Psychological ownership is a feeling by the developer of ownership and pride in the particular element of the project; [3] Corporeal ownership is a set of formal or informal rules defining responsibility for a particular software piece. The rules depend on the development approach taken by the team, but generally can be partitioned along the ...