Governance and Financial Controls of Projects
| Module title | Governance and Financial Controls of Projects |
|---|---|
| Module code | BEM1037DA |
| Academic year | 2023/4 |
| Credits | 30 |
| Module staff |
| Duration: Term | 1 | 2 | 3 |
|---|---|---|---|
| Duration: Weeks | 10 |
| Number students taking module (anticipated) | 50 |
|---|
Module description
This module will enable you to evaluate and establish appropriate project governance through the incorporation of policies, regulations, processes, roles and structures in different project types and organisational structures, accepting that different sizes of organisation require different levels of control.
It will also enable you to manage project budgets and costs within appropriate financial frameworks and how to report project performance, tailoring reporting requirements to comply with governance norms in the business. In addition, it will cover constructing robust project business cases that demonstrate the benefits and value expected from project deliverables.
Module aims - intentions of the module
This module will enable you to develop the skills and knowledge required for successful governance and financial controls of projects in both academic and employment contexts. This will be achieved be exploring the role and importance of successful governance and financial controls processes and systems in ensuring projects are delivered effectively. You will also engage in practical, employability-orientated skill sessions focused on: planning, resource allocation, budgetary profiling, risk management and management & control procedures. Stakeholder management will also be included. Once completed, you will be able to recognise your own skills and the roles you can perform in bringing a successfully governance framework and financial control to fruition to enhance the project delivery outcomes.
Intended Learning Outcomes (ILOs)
ILO: Module-specific skills
On successfully completing the module you will be able to...
- 1. Compare and establish appropriate project governance through the incorporation of policies, regulations, processes, roles and structures in different project types and organisational structures, demonstrating that acceptance of different sizes of organisation requires different levels of control. (Knowledge 1)
- 2. Explain effective management of project budgets and costs within appropriate financial frameworks and how to report project performance, tailoring reporting requirements to comply with governance norms in the business. (Knowledge 1)
- 3. Construct robust project business cases that demonstrate the benefits and value expected from the project deliverables. (Knowledge 1)
ILO: Discipline-specific skills
On successfully completing the module you will be able to...
- 4. Apply leadership techniques to constructing and taking responsibility for the project management plan as required by the governance structure. (Skills 1)
- 5. Apply techniques and project management methodologies as appropriate, dependent upon project complexity and criticality to the organisational environment in which a project is being delivered. (Skills 1)
- 6. Explain how to maintain, review and communicate a project business case for approval through the stages of a typical project lifecycle ensuring continued value for money and continued alignment with organisational objectives. (Skills 1)
ILO: Personal and key skills
On successfully completing the module you will be able to...
- 7. Apply collaboration techniques to build rapport and trust, develop networks and maintain relationships. (Behaviour 2)
- 8. Exemplify resilience and determination when managing difficult situations and influence the behaviours of others to agree and meet required project outcomes. (Behaviour 3)
- 9. Explain, communicate and issue project-related reports and statements in an objective and truthful manner. (Behaviour 4)
Syllabus plan
Participate in and manage the impact of governance, structures and processes on projects.
- how principles of project management are implemented (types of organisation setting, such as functional matrix and projectized organisation; maturity level of an organisation)
- how principles of programme management are implemented (characteristics such as goals, inputs, outputs, outcomes, benefits)
- how principles of portfolio management are implemented (characteristics such as critical success factors and key performance indicators)
- the role of supporting functions available to a project manager (such as a project office or IT support)
- how to align a project to an organisation’s decision making and reporting structures
- how to align a project to an organisation’s quality requirements
- how to align a project with human resource processes and functions
- how to align a project with finance and control processes and functions
How to implement, monitor and review the organisation of a project.
- how to define the structure, roles and responsibilities within a project
- how to establish infrastructure, processes and systems for information flow
- the benefits of regularly reviewing the temporary organisation of a project during the project life cycle
Ensure that financial resources are budgeted, monitored, reported and properly used during the project.
- how to estimate project costs (such as comparative, analytical, parametric, three-point)
- how to establish a project’s budget
- how to secure project funding
- how to maintain a financial management and reporting system for the project (such as cost to complete, earned value)
- how to monitor project financials to identify and correct deviations from plan (such as earned value management, Schedule Performance Indicator (SPI), Cost Performance Index (CPI))
Learning activities and teaching methods (given in hours of study time)
| Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
|---|---|---|
| 34 | 60 | 206 |
Details of learning activities and teaching methods
| Category | Hours of study time | Description |
|---|---|---|
| Scheduled teaching and learning activities | 34 | 4 masterclass days and 4 webinars |
| Placement | 206 | Project management in the workplace - Work activities including for example project team meetings, discussions, stakeholder engagement, project planning and implementation |
| Guided Independent study | 60 | Reading, research, web based activities on ELE |
Formative assessment
| Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|
| Essay plan with supporting annotated bibliography | 1000 words | 1-9 | Verbal peer review in master class |
| Produce a table showing how to set governance and reporting for different types of projects | Equivalent to 1000 words | 1-6 | Written in ELE |
Summative assessment (% of credit)
| Coursework | Written exams | Practical exams |
|---|---|---|
| 100 | 0 | 0 |
Details of summative assessment
| Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|---|
| Essay | 50 | 3000 words (+/- 10%) | 1-9 | Written |
| Produce Project Profile Report with RAG Status update | 50 | 2000 words (+/- 10%) | 1-9 | Written |
Details of re-assessment (where required by referral or deferral)
| Original form of assessment | Form of re-assessment | ILOs re-assessed | Timescale for re-assessment |
|---|---|---|---|
| Essay | Equivalent to 3000 words | 1-8 | 6 weeks |
| Produce Project Profile Report with RAG Status update | Equivalent to 2000 words | 1-9 | 6 weeks |
Re-assessment notes
Deferral – if you miss an assessment for certificated reasons judged acceptable by the Mitigation Committee, you will normally be either deferred in the assessment or an extension may be granted. The mark given for a re-assessment taken as a result of deferral will not be capped and will be treated as it would be if it were your first attempt at the assessment.
Referral – if you have failed the module overall (ie a final overall module mark of less than 40%) you will be required to sit a further examination. The mark given for a re-assessment taken as a result of referral will count for 100% of the final mark and will be capped at 40%.
Indicative learning resources - Basic reading
Basic reading:
- Dittmann K, Dirbanis K, & Meier T (2021) Project Management (IPMA) Study Guide for Level D and Basic Certification (GPM), Haufe Lexware
- Maylor, H. (2010) Project Management Harlow, Essex, Pearson Educations Ltd
- Burke, R. and Barron, S. (2014) Project Management Leadership: Building Creative Teams , J Wiley and Sons
- Newton, R. (2006) Project Management Step by Step, How to Plan and Manage a Highly Successful Project, Pearson Education Ltd
- Kersten Mik (2019 Project to Product: How Value Stream Networks will transform IT and Business: How to survive and thrive in the age of Digital Disruption with the flow, IT Revolution Press
- Smart, Jonathan (2022) Sooner, Safer, Happier: Antipatterns and patterns for Business Agility, IT Revolution Press
Indicative learning resources - Web based and electronic resources
Web-based and electronic resources:
- ELE
- Association of Project Management http://www.apm.org.uk/
- ISO 9000 http://www.iso.org/iso/iso_9000
- Prince 2 http://www.prince-officialsite.com/
- Scaled Agile Framework (SAFe) https://scaledagileframework.com/
| Credit value | 30 |
|---|---|
| Module ECTS | 15 |
| Module pre-requisites | BEM1036DA |
| Module co-requisites | None |
| NQF level (module) | 4 |
| Available as distance learning? | Yes |
| Origin date | 14/04/2023 |
| Last revision date | 14/04/2023 |
