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Describe the Importance of Senior Management for Projects (Essay Sample)

Write a paper that includes this information: The name of the organization and pertinent background information about it. Any additional conclusions you can draw from your answers. 1. What kind of evidence might indicate that a company's board of directors has been inadequate in its monitoring of major project undertakings? Explain. 2. What actions and activities indicate that a company's board of directors has taken an active interest in major projects? Explain. 3. Briefly describe some of the major responsibilities of a board of directors with respect to project management. 4. "Projects are key building blocks in the design and execution of corporate strategy." Explain what is meant by this. What ramifications does this idea have with respect to the responsibilities of a corporate board of directors? 5. Cite and explain some of the reasons for the need for board senior managers to have an interest in a project plan. 6. How can a board of directors ensure that organizational projects being effectively managed? 7. What specific questions should be addressed by the board in project review meetings? 8. What kind of information about a project should be prepared for and presented to the board of directors? Explain. 9. What is the purpose of a performance audit? Under what circumstances might a board of directors consider such an audit? Why? 10. Why should all projects have a sponsor? 11. What steps can be taken to protect a board of directors from litigation and subsequent court actions? Explain. 12. Discuss the importance of proper board member selection for organizational effectiveness. source..

Describe the importance of senior management for projects
Name of institution:
Senior management for projects is a team of professionals at the organizational level who undertake daily responsibilities of managing resources of the projects of the company. Senior management in the IBM Company has led to growth of the company to a multinational company. International Business Machines commonly known as IBM is a multinational technology corporation, which manufactures and designs computer hardware and software.
The board of directors (BOD) of IBM failed to monitor the virtual pc server projects which led to the company being sued by one of its partner for what was termed as "a wide spread Ponzi scheme." Consequently the BOD was charged for inappropriately using the funds despite the fact that IBM had stopped some of their projects. They have long adhered to governance principles designed to ensure excellence in the execution of its duties and its overall supervision.
In addition, BOD in project management is concerned with the long-term operational systems set by the management team. The board ensures that resources are properly uti...
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