From Corporate Governance to Enterprise Project Governance
Enterprise Project Governance helps fill the voids left in loosely woven corporate governance policies, primarily with respect to transparency, accountability, and responsibility. Effective EPG ensures that corporate initiatives and endeavors are appropriately defined with respect to policies and accountability.
More importantly, EPG is a natural evolution in organizations that wrestle with countless demands for new projects to be completed within tightened time frames, at lower cost, and with fewer resources. Indeed, the pressures from faulty corporate governance have influenced companies' trends to include EPG policies. But in fact the need for EPG is simultaneously becoming apparent as the world becomes increasingly projectized, with more and more projects clamoring for attention. The demand to undertake, manage, and complete multiple projects creates a need to provide greater governance and structure.
Whereas corporate governance also includes the concerns of the on-going organization with its status quo activities and operational issues, EPG focuses on new and changing factors, and thus on the projectized parts of organizations facing the future.