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1. Introduction to Enterprise Project Go... > EPG and Corporate Governance - Pg. 5

Introduction to Enterprise Project Governance 5 Insuffi cient sponsorship to champion the cause. A lack of expertise in change management techniques. When the scenario isn't yet favorable for a formal program, partial initia- tives are appropriate, such as: 1. Intensifying training programs in the basics of project management. 2. Stimulating the use of project management techniques across the en- terprise in all areas including engineering, IT, R&D, new product de- velopment, marketing, and HR. 3. Creating awareness at the executive level through the literature, bench- marking, and conferences. 4. Identifying potential sponsors for a broader program. 5. Stimulating the implementation and development of PMOs. With these measures in place, an organization will be on its way to produc- ing highly successful projects of all types across the enterprise. When the scenarios are favorable, however, a comprehensive EPG pro- gram offers an accelerated, holistic, and integrated way to guarantee optimal project performance and boost overall organization results. EPG and Corporate Governance EPG evolved in part due to the cascading changes that affected overall cor- porate governance beginning in the 1990s. Pressures from the marketplace, governments, and regulatory agencies placed a disconcerting spotlight on company boards to ensure that decisions and corresponding actions are fully traceable from the top down. Because a major part of organizational survival depends on new projects, EPG adds a measure of traceability and correspond- ing accountability to the basics of corporate governance. The increasing focus on corporate governance can be traced to the stock market collapse of the late 1980s, which precipitated numerous corporate fail- ures through the early 1990s. The concept started becoming more visible in 1999 when the Organization for Economic Co-operation and Development American Management Association