Compliance is a term that describes conforming to a standard, rule, law or requirement. Companies that are looking for ways to adhered to regulations should implement compliance controls. Compliance serves as a vehicle to ensure that the projects are executed within the overall objectives of the company.
The project management compliance structure is made up of processes, procedures, and standards that should be followed. Having this type of framework allows stakeholders to understand their roles and responsibilities.
The compliance structure should have control over different aspects of project management which include management of scope, budget control, time management and deliverables. Most project managers also need to conduct regular reviews of the lesson learned to make sure that the execution of the projects in the future will improve.
The other important aspects of compliance are transparency and accountability. Everything must be visible and all tasks should be assigned to responsible team members. This ensures that every resources and task are assigned to respective individuals. Compliance will enforce good governance in project management. It helps minimize risks and other problems that may be encountered during the project’s life cycle.