ABSTRACT
This chapter identifies the governance structures and relationships required to carry out the Project Risk Governance (PRG) processes. Detailed responsibilities for PRG are allocated to the board, project sponsors, steering committees, project managers and the Project Management Office. Project sponsors and project managers have direct responsibilities for PRG processes by providing project funding and project development respectively. Leadership for governance is often found to be the factor that most separates top-performing organisations from substandard-performing organisations. There should be a commitment by senior management to maximise the opportunities offered by project risk for the benefit of the organisation's shareholders and stakeholders. Programmes within the portfolio are identified and projects prioritised in terms of starting and completion dates, and possibly suspensions or terminations. The chapter concluded with a conceptual framework that links PRG processes and structures, either in a network of actors or through the project life cycle.
