Project owner

From CEOpedia | Management online

Project owner is usually the head of the business, which is receiving the product and sharing business responsibilities for successful project implementation. Project owner might have to act like a "Grand Master" of the project. Project owner must have a project plan. Project owner has to be an enthusiastic person and always be positive about the project outcome, he also should be able to articulate the project's value and encourage people to buy his idea nevertheless. He is directly impacted by the results of the project.

Main requirements

There can be only one Project Owner to avoid divergence of opinions, and not to blur the sense of responsibility for several people. Main functions of project owner include:

  1. Making decisions on short - and long - term tasks;
  2. Taking responsibility;
  3. Managing team's performance.

He needs to deal with the definition of tasks for his subordinates, but he will not perform them. His duty is to support the team, answer their questions, or give valuable advice, but there should be no situation, when the Project Owner waits idly for group effects, or under the pressure of time, or the desire to get a high result becomes the main contractor of the project.

Work description

The most important characteristic of Project Owner are communication and negotiation skills, because the "champion" carries a lot of responsibilities on his shoulders, when it comes down to taking care of the final decision. Another crucial characteristic is decision making. Project Owner must have the ability to make decision on his own and prioritize tasks and when to decline or receive consequences of his own decision. Long - term planning skill is also useful. He has to be careful of consequences he might get in the future business plan. Being the most important in certain project and being a person, who divides the tasks you have to be an authority for fellow workers. Being a part of leadership you have to constantly develop your know skills and knowledge in case of being Project Owner.

Work relacions

Relationships with colleagues might occur in some problems. Inherent interest conflicts between a project management team and project owner are often neglected in project risk management. Risk management by the project management team basically focuses on project short - term survival, or project success toward handover to the customer, while for the project owner, strategic success should be more important. (Hans Petter Krane, 2012, 54-56)

Role in the team

Keeping word and deadlines is very important. This is how credibility is built and that way a trust can be gained. According to Pinto et al. (2009). Many scholars have emphasised the significance of trust as a " facilitator of positive relationships among project stakeholders". It is claimed that trusting each other improves a wide range of inter-organizational relationships, i.a. "project team dynamics, top management support, and coordination across functional departments". Similarly, trust is claimed to better inter-organizational relationships among the most important parties involved in the project development, i.e. suppliers, contractors and the owner. The trust has been operationalized along Hartman dimensions and the perspectives of owners and project contractors have been compared. Using the methods of regression and path analysis, contractor - owner relationships have been analyzed. The conclusion is that for both owners and contractors the notion of trust means something different. (Jeffrey K. Pinto, Denis P. Slevin, Brent English, 2009, 638-648)

Examples of Project owner

  • A software development project owner is a person responsible for the development of a software product. They are usually the CEO or CTO of a software company, or a director of a software development team. The project owner will often manage the entire project life-cycle, and be responsible for budgeting, planning, organizing, staffing, and controlling the software project.
  • A construction project owner is a person responsible for the overseeing and controlling of a construction project. This could be a building owner, an architect, or a construction manager. The project owner will be responsible for the planning, budgeting, staffing, and controlling of the construction project.
  • A research project owner is a person responsible for the execution and management of a research project. This could be a professor, a research manager, or a director at a research organization. The project owner will be responsible for the planning, budgeting, staffing, and controlling of the research project.

Advantages of Project owner

The project owner has many advantages when it comes to managing a project. These advantages include:

  • Having full control and ownership of the project from start to finish. This allows the project owner to make any necessary changes during the project's course and ensure quality control.
  • Having the ability to plan and allocate resources, as well as set deadlines for each task. This allows the project owner to maximize efficiency and ensure that the project is completed in a timely manner.
  • Having access to the expertise and knowledge of project team members. This allows the project owner to make informed decisions, as well as delegate tasks to the most qualified team members.
  • Having the authority to review, approve, and accept deliverables. This allows the project owner to ensure that the project meets the requirements and expectations of all stakeholders.
  • Having the ability to make quick decisions and resolve issues. This allows the project owner to react quickly to unexpected problems and ensure the project is completed on time and within budget.

Limitations of Project owner

The project owner has a number of limitations they must be aware of in order to ensure a successful project:

  • Lack of authority: The project owner has limited authority over the project, as they are likely to be dependent on other stakeholders to provide resources, delegate tasks and make decisions.
  • Limited knowledge: The project owner may not possess the technical expertise or experience necessary to oversee the project.
  • Time constraints: The project owner must manage the project within the given timeline, often with limited resources.
  • Communication: The project owner must ensure that all stakeholders are kept informed throughout the project, and conflicts are resolved quickly and efficiently.
  • Finances: The project owner must ensure that all costs are accounted for and the project is delivered within budget.
  • Accountability: The project owner is ultimately accountable for the success or failure of the project, and must ensure that all goals are achieved.

Other approaches related to Project owner

The Project Owner is the ultimate decision-maker for a given project. However, there are other approaches to managing projects that involve additional stakeholders. These include:

  • Project Management Office (PMO) - A PMO is a centralized organization responsible for the management of a project or multiple projects. The PMO typically consists of a team of project managers and other professionals who specialize in project management and support the project owner in decision-making.
  • Agile Methodology - Agile methodology is a set of principles for managing projects in an iterative manner. It is based on the idea that projects should be broken down into smaller pieces and each piece should be tackled in a series of sprints. This allows for more flexibility and faster implementation of changes.
  • Scrum - Scrum is an iterative approach to project management that involves teams of individuals working together to achieve a common goal. It is based on the idea of self-organization, with each team member taking responsibility for their own work.

In summary, while the Project Owner is the ultimate decision-maker in a given project, there are other approaches to project management that involve additional stakeholders such as a PMO, Agile Methodology, and Scrum. Each of these approaches provides a unique set of benefits and considerations that should be taken into account when making decisions.


Project owner — recommended articles
Project leader — Project team structure — Project — Reasons for creating project teams — Project steering committee — Hersey and Blanchard model — Change advocate — Prime contractor — Organization of managerial work

References

Author: Kamila Nawara

Retrieved from "https://ceopedia.org/index.php?title=Project_owner&oldid=95762"