What Is Project Oversight?

Project oversight acts as a safety net against the susceptibility that a project will failed to be accomplished within a specified time, financed with a definite budget and with the specified parameters for completion (Evenstac, 2015). In other words, project oversight is a watchdog that enables the project completion in accordance with the set out plan, timeframe, financial budget as well as the procurement process (Office of Administration, n.d). As a guide to show a business the path it ought to follow, project oversight plays a governance responsibility thereby helping in mitigate a project s risk and improve outcomes. Moreover, it plays a major improvement role in helping curb recurring frauds and mistakes from resurfacing and in this way, consistency in accomplishment of the project is achieved.

Impact of project oversight to the organization

Project oversight incorporates myriad quality control inspection, test measurement as well other observation processes meant to ensure that the planned aims are attained in accordance with an approved plan. Project oversight may be viewed using a technical and management perspective. Project oversight has the potential of impacting the organization positively in the sense that it will help the organization counter the challenges faced from the onset to the completion of the project.

The ability to unearth the impending dangers expected to be faced will enable the organization to be in a position of addressing and resolving the impending dangers before they turn out to be disastrous in the end or which might end up consumer much more funds in the end (Larson Gray, 2013). Furthermore, adopting project oversight will enable the organization to be in a position to monitor project risks, issues, schedules and budgets. Since the projects will be completed in time, the organization will reap the benefits of projects including increased returns, efficiency in production as well as a boost in the company s image. In this way, the organization will not have a backlog projects lying idle with other resources lying unexploited.

How project oversight impact the project manager

A project manager benefits a lot from project oversight in that the project manager is in a position to formulate the relevant project management policies, processes, and methods all with an aim of ensuring that the project is on course, within the scope and budget and time frame (Axiom technology group, 2015). Through risk management, the project manager is sees to it that issues attributed to a project are solved in a timely basis and in a reasonable manner. Moreover, the manager is a position to conduct a performance management through the assessments and auditing errands conducted on projects.

Given the fact that oversight renders immediate feedback especially when the project is not on track, the project manager is always vigilant with the particulars of the project. Ideally, the project manager is mandated to always make communication concerning the progress of the project and this implies that the status reports should be drafted on a timely basis. The success of the project lies with the manager (Evenstac, 2015). It is upon the manager to create long lasting effective relationship with the concerned parties for the project to be realized. A good manager will ensure that all the due process and procedures are followed.

Importance of project oversight to the future of project management

Project management entails the application of knowledge, expertise, strategies and experience in undertaking project activities and organization of resources all with an aim of achieving management projects (McGrath, 2001). The resources utilized in completing projects involve finances and people. Nevertheless, project management is undertaken during the commencement of the project when planning and organization are underway. A project s initialization stage is indispensable especially due to that fact it is involves critical budget, time, money, labor, and machinery as well as resource allocations. Project management overlaps with project oversight as the project is in progress. As the project is in progress, project oversight enables the verification and validation of the progress step.

Realizing a project involves a mammoth of procedures which ought to be undertaken sequentially and systematically (Larson Gray, 2013). After appraising the project, planning, coordination, organizing and controlling functions follow suit. The implementation of the project is essentially one of the most important stages since it has a great bearing towards the realization of the project. Project oversight has everything to do with close monitoring of the performance and progress. In this way, project oversight and management complement each other (Office of Administration, n.d). It goes without saying that when project management and project oversight go hand in hand.

The essence of project oversight is to ensure that the project together with all its components stays on course and that it runs uninterruptedly (McGrath, 2001). To future project management, project oversight acts as a troubleshooter and an adjusting mechanism of processes which could be improved along the way. The managers responsible for project oversight ought to ensure that every essential input needed for the completion of the project is availed in time and is within the scope of what project management initially anticipated and planned. Project oversight enables the scheduling of similar project which an organization may undertake in future. Indeed, project oversight not only aids at future planning but also ensures that project funds are not wasted! Needless to say, project oversight is indispensable in ensuring the achievement of the main goal of the company which is to and critical path of the project.

References

Axiom technology group. (2015). Defining Project Management Project Oversight and Its Importance to Your Company. Retrieved from http://www.thinkaxiom.com/axiology/defining-project-management-project-oversight-and-its-importance-to-your-company/

Evenstac, A. (2015). The importance of Project Management Oversight. Retrieved from https://www.panorama-consulting.com/the-importance-of-project-management-oversight/

Larson, E. W., Gray, C. (2013). Project Management: The Managerial Process with MS Project. McGraw-Hill.

McGrath, R. G. (2001). Exploratory learning, innovative capacity, and managerial oversight. Academy of management journal, 44(1), 118-131.

Office of Administration (n.d). Project Management Oversight. Retrieved from https://oa.mo.gov/information-technology-itsd/it-governance/project-management-oversight

Taylor, H., Artman, E., Woelfer, J. P. (2012). Information technology project risk management: bridging the gap between research and practice.