Governance Frameworks for Public Project Development and Estimation

Download or read book Governance Frameworks for Public Project Development and Estimation written by Ole Jonny Klakegg and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Governance framework-an organized structure established as authoritative within the institution, comprising processes and rules established to ensure projects meet their purpose. The increased use of projects as a way to organize and perform various tasks, not only in the business or industry environment but in all sectors of society, is challenged by a current focus on problems associated with the major projects. Despite the emphasis placed on improved methods to analyze and manage projects, the track record of projects reveals fundamental problem such as inadequate needs assessments, initial poor designs, tactical budgeting by authorities, inadequate cost estimation an risk assessment. Governance Frameworks for Public Project Development and Estimation includes a thorough investigation into theoretical perspectives and theories, mainly from economy and social sciences. Thirty-two aspects of theory are assessed, and it is indicated whether each framework design seems to have put weak or strong emphasis on each of these aspects. The purpose of the report is to seek better understanding of how the governance framework and the projects interact and how the framework influences the project. Governance frameworks help to improve the initial and fundamental design of projects as well as avoid some of the common problems related to the implementation of projects. Implementation of governance frameworks represents a potential for considerable savings and added value by making cost estimation and time planning more effective. Governance frameworks may be characterized by describing their: development process (the story) embedded governance principles (the values) structure of the framework (the content) detailed governance elements (adaptable to the purpose of analysis) This report offers a wide range of different perspectives on governance of projects in general and governance frameworks for public investment projects in particular. It gives useful insights and some tools for the design and implementation of governance frameworks. Book jacket.