ABSTRACT
This chapter covers project governance best practice and how business governance can be improved by using project governance as a vehicle to improve internal processes and disciplines. It explains how early equipment management (EEM) support improved strategic control. Project governance and business governance capabilities are closely linked. Both involve planning and leadership activities, organizational development, execution, and action/review processes. That means that weaknesses in business governance contribute to weaknesses in project governance. When an international manufacturer was acquired by a US company, it was given access to funds to restore part of its product range to the United Kingdom from China. This had been a pet project of the management team for some time, but their previous venture capital owners were not prepared to make funds available to do it. The process of updating the equipment management master plan highlights knowledge and competency gaps and, as part of that, where resources need to be targeted.
