A project management maturity can be used to evaluate the current levels of process competency within an company. It can be used to set goals and formulate a strategy for implementing improvements.
The majority of boards start at the lower end of the board management maturity scale. They are aware of their obligations and risks but are reluctant to devote time to governance since it takes them away from their main duties managing the company. It is important to make these boards aware that governance is a separate job that needs its own level in professional development assessment and evaluation, as well training. It is also a risky hop over to this web-site venture that requires the imagination, the willingness and the ability to take risks when faced with an interconnected and messy external world of economics, physical environment developments as well as demographic trends and cultural changes.
The next step is for a Board to make the conscious decision to make the shift on the ladder of board management maturity towards ‘The Learning Board.’ This requires a shift away from the traditional emphasis on Accountability and Management Supervision to a greater focus on Policy Formulation and Strategic Thinking. This is a significant shift in the way boards function and typically requires some outside support to put the new thinking in place. It also involves developing regular procedures for publishing internal trends on the board’s collective learning and emotional atmosphere. It is also a time when the Chairman, with the assistance of the Company Secretary, should lead the rebalancing of a board’s schedule away from ‘hard’ business performance and towards the more focused agenda of the unique challenges facing the business.