1. Business CaseThe strategic basis for the project such as a business case or business plan.
2. Funding & ResourcesSecuring the funding and resources for the product.
3. CommunicationRepresenting the project at the executive level and to impacted business units. The sponsor plays a critical role in gaining acceptance for the project and managing resistance to change.
4. Project GovernanceMonitors the progress of the project and project risks to ensure that the project aligns to strategy and the interests of the sponsoring business unit. Accountable for delivering the business benefits of the project as stated in the business case.
5. RelationshipsManages relationships with the program manager, project manager and stakeholders.
6. Performance ManagementManages the performance of the project, clears issues and arbitrates disputes. Supports the project manager to overcome hurdles in a timely manner.
7. Decision MakingMakes decisions as business interpretations, project approaches and strategies are refined over the course of the project. In many cases, the sponsor doesn't directly make all decisions but provides a decision making framework.
Accountability & ResponsibilityA sponsor needs the visibility and authority required to champion the project. It tends to be a time consuming role and it's common for the role to be divided between an executive level individual who is accountable and a working level individual who is responsible. In many cases, these two roles are known as Executive Project Sponsor and Project Sponsor.
|Overview: Project Sponsor|
Executive Project Sponsor Definition
The person who is accountable for representing the sponsoring business unit in a project.
Project Sponsor Definition
The person who is responsible for representing the sponsoring business unit in a project.