The “Business Integrated Governance” (BIG) methodology within the Praxis framework is a comprehensive approach designed to ensure that the management and governance of projects, programmes, and portfolios are seamlessly integrated with the governance structures of the parent organisation. This methodology is a crucial aspect of the Praxis framework, which is a free, community-driven framework that blends guidance on projects, programmes, and portfolio management into a single integrated guide.
Components of BIG
Key components of the Business Integrated Governance methodology in the Praxis framework include:
- Alignment with Organisational Objectives: It emphasises aligning project, programme, and portfolio management with the strategic objectives of the organisation. This ensures that all initiatives contribute effectively to the overall business goals.
- Stakeholder Engagement: Central to this approach is the engagement of stakeholders at all levels of the organisation. This includes not only the project team and management but also executive-level stakeholders, ensuring that decisions are made with a comprehensive understanding of their impact across the organisation.
- Governance Structures: The methodology advocates for clear and effective governance structures. These structures should facilitate decision-making processes that are both agile and robust, allowing for rapid response to change while maintaining control and alignment with strategic objectives.
- Integrated Processes: It calls for the integration of processes across different levels of project, programme, and portfolio management. This integration ensures that practices and procedures are consistent and that information flows smoothly across different levels of management.
- Performance Management: A strong emphasis is placed on performance management, including the use of key performance indicators (KPIs) to monitor and measure the success of projects, programmes, and portfolios in alignment with business objectives.
- Risk Management: The methodology incorporates comprehensive risk management strategies to identify, assess, and mitigate risks at all levels, ensuring that they are managed effectively within the broader context of organisational governance.
- Resource Optimisation: It emphasises the efficient and effective use of resources across projects, programmes, and portfolios, ensuring that they are allocated in a way that maximises value and supports organisational priorities.
- Continuous Improvement: The Business Integrated Governance approach promotes a culture of continuous improvement, encouraging regular reviews and adaptations of governance practices to ensure they remain effective and aligned with the evolving needs of the organisation.
In summary
In summary, the Business Integrated Governance (BIG) methodology is about ensuring a harmonious and effective relationship between project-level management and the broader organisational governance.
It strives to align projects, programmes, and portfolios with the strategic goals of the organisation, ensuring effective use of resources, stakeholder engagement, and risk management, all within a framework of continuous improvement and adaptive governance structures.
