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Guardians of Success - Project Governance and Compliance Essentials (S4E107)
Join hosts Merv Jersak and Tim Jerome as they discuss the significant positive impacts of adherence to compliance, including better risk management, legal compliance, and overall project success. Learn proactive strategies for integrating compliance into project timelines, the importance of staying current with regulations, and the benefits of maintaining clear governance structures. Discover how these practices protect your organization from legal and financial penalties while enhancing stakeholder trust and reputation, driving efficiency, and clarifying roles and responsibilities.
Main Take-Aways
Why do we implement governance and compliance on our projects? Some reasons include the following:
- adhering to laws, regulations, and performance standards
- preparing for compliance from the outset
- compliance monitoring and decision-making
- guarding clients’ reputations
- challenges of not having a clear governance structure
- consequences of non-compliance
- project efficiency resulting from compliance
Show Notes
Today’s Project Managers Coffee Chat: Project Governance and Compliance Essentials
00:27 Following the previous podcast episode on defining governance and compliance as human factors that project leaders need to develop and adhere to, this episode discusses the impact of having good governance and compliance to your project success.
00:56 The importance of compliance to managing project risk, especially as it pertains to laws, regulations, and performance standards.
03:50 Preparing for compliance from the outset of your projects.
04:26 Legal and regulatory adherence – factors beyond just the execution of the project.
06:08 Compliance monitoring and its role in decision-making, reporting, and assuring your clients of adherence to laws and regulations. Guarding your clients’ reputations.
09:38 Challenges of not having a clear governance structure (e.g., re-judicating past decisions, project delays, complacency, unclear roles and responsibilities, etc.).
12:00 Consequences of non-compliance with the governance structure (e.g., lack of direction, delays, financial penalties, loss of reputation, disbarment, etc.).
14:39 Importance of project efficiency resulting from proper governance in place, including considering quality assurance as a compliance measure. Having operational efficiency through implementing compliance.
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By Merv Jersak & Tim JeromeJoin hosts Merv Jersak and Tim Jerome as they discuss the significant positive impacts of adherence to compliance, including better risk management, legal compliance, and overall project success. Learn proactive strategies for integrating compliance into project timelines, the importance of staying current with regulations, and the benefits of maintaining clear governance structures. Discover how these practices protect your organization from legal and financial penalties while enhancing stakeholder trust and reputation, driving efficiency, and clarifying roles and responsibilities.
Main Take-Aways
Why do we implement governance and compliance on our projects? Some reasons include the following:
- adhering to laws, regulations, and performance standards
- preparing for compliance from the outset
- compliance monitoring and decision-making
- guarding clients’ reputations
- challenges of not having a clear governance structure
- consequences of non-compliance
- project efficiency resulting from compliance
Show Notes
Today’s Project Managers Coffee Chat: Project Governance and Compliance Essentials
00:27 Following the previous podcast episode on defining governance and compliance as human factors that project leaders need to develop and adhere to, this episode discusses the impact of having good governance and compliance to your project success.
00:56 The importance of compliance to managing project risk, especially as it pertains to laws, regulations, and performance standards.
03:50 Preparing for compliance from the outset of your projects.
04:26 Legal and regulatory adherence – factors beyond just the execution of the project.
06:08 Compliance monitoring and its role in decision-making, reporting, and assuring your clients of adherence to laws and regulations. Guarding your clients’ reputations.
09:38 Challenges of not having a clear governance structure (e.g., re-judicating past decisions, project delays, complacency, unclear roles and responsibilities, etc.).
12:00 Consequences of non-compliance with the governance structure (e.g., lack of direction, delays, financial penalties, loss of reputation, disbarment, etc.).
14:39 Importance of project efficiency resulting from proper governance in place, including considering quality assurance as a compliance measure. Having operational efficiency through implementing compliance.