The project steering committee is main governing body within an enterprise that looks after the proposal and execution of projects. They ensure that the proper deliverables are met and the project is in line with key company goals. This includes approval of budget, defining standards and goals, devising project strategy, risk assessment, quality checks and adherence to time-line. The project steering committee is the body to which a project managers report to. The project manager attends meetings and informs the committee regarding the status of the project along with addressing doubts and concerns.
Risk management is a critical aspect of project management that involves identifying, evaluating and mitigating any potential pitfalls associated with the task at hand. To put it in simpler words, project risk management is all about assessing what risks or hazards might come along during the process of achieving a specified goal and devising ways and procedures of dealing with the inevitable. Lack of proper risk management can lead to a number of issues including [...]