Project management’s core function is integration. Therefore, the project manager is the single point of integrative accountability’ in achieving the outcome desired by the sponsor.
The front-end is the most important part of the project offering the greatest opportunities to add or destroy value.
The project manager needs to be competent both at managing front-end development as well as downstream execution.
In the front-end, we are inventing the future: As we move into execution, there is a shift to a more being, realist position.
Of the many stakeholders influencing the front-end and downstream execution, the sponsor is the most critical. It is their money (or budget) that is being drawn on.
The sponsor represents the governance engine that defines the way the project is to be managed.
The sponsor potentially can have the most influence on the conduct of the project yet probably has had the least amount of formal training in the discipline of managing projects/ project management of any senior on the project.
The two ‘essential’ project stage-gates are where approval is given, one, to initiate development work, and two, at sanction, to proceed with the execution.
The Institute’s renowned Stakeholder Management and Communications diploma program ensure that candidates understand the effectiveness (what the sponsor really wants to get) and the efficiency measures (cost, schedule scope goals) that constitute project management.