Each node manages risks, actions, issues and decisions around their governance operation which are separate from the entity itself.
The process and the data that feed the governance nodes require information assurance to enable governance nodes to operate confidently on their Management Information (MI). Without this, executives can be questioning every report page.
The governance node has a standing agenda for progress/forecast business at which it takes regular inputs to review and engage on issues and risks – and steer/advise as appropriate. Using the specific entity information and the filtered MI it receives / accesses itself (including specific key performance indicators), it may make decisions and set actions through its agenda elements. The governance node also has irregular inputs forming ad hoc agenda items to enable choices, commitments, or policy.
The governance node attempts to complete its standing agenda and its ad hoc business items to a cycle to enable preparation of the regular and irregular inputs, scheduling time, and action follow up.
The outputs from 1:1 meetings, workshops, and their follow on work are updates to risks and issues, setting of actions and recording of decisions, all of which are communicated to peer superior and subordinate governance nodes, and internally/externally as appropriate.
For each governance node, the governance agenda (regular and irregular items) defines the MI structure and the business data contained. It is expected that each organisation can establish governance node types to enable the organisation to orchestrate fast and reliable information, and that each specific governance node can adapt the process and data to suit specific needs.
Each governance node is introduced below, with a link to the further information available within the Core P3M Data Club including the detailed materials underpinning the node definition, example management information examples, an example data collection spreadsheets, a data definition, an example data model and dashboard prototypes. This material is shared in the public domain for use ‘as is’ and for public, collaborative development which the voluntary Core P3M Data Club will manage. It is on a roadmap for release into Praxis.
Further work is expected to share implementation stories, capture further MI examples, and develop further example agendas, which depend on the contribution from volunteers (practitioners, consultants and tool vendors).