The Fundamental Principle of Stewardship in Project Management
Stewards are those who demonstrate responsible behaviour by carrying out their responsibilities in an honest, careful, and trustworthy manner while adhering to both internal and external rules. They exhibit a diverse range of dedication to the economic, social, and environmental effects of the initiatives that they choose to sponsor.
The principle of stewardship includes obligations both within and outside of the organization being stewarded.
The acts of Stewardship usually Includes
• Honesty
• Care
• Reliability
• An obligation to compliant with the required rules and regulations
The financial, social, technological, and environmental aspects of stewardship are all taken into account in a holistic perspective.
Usage
It is an essential principle in the practice of project management that should be followed in a project out of the 12 principles laid down as per PMBOK 7.
Reference (12 Principles of Project Management)
Stewards act in a responsible way to make sure that tasks are done with honesty, care, and trustworthiness while following both internal and external rules. They show that they care about how the projects they fund affect people’s lives, the environment, and the economy as a whole.
People with a wide range of skills, knowledge, and experience make up project teams. When people on a project team work together, they can reach a common goal more quickly and effectively than if they worked alone.
Engage stakeholders in a proactive way and to the extent that is needed to help the project succeed and keep customers happy.
Evaluate and change a project’s alignment with business goals and the expected benefits and value on a regular basis.
Recognize, evaluate, and respond to the changing conditions inside and outside of the project as a whole to improve project performance.
Show and change your leadership skills to meet the needs of both yourself and your team.
Design the project development approach based on the project’s goals, stakeholders, governance, and environment, using “just enough” process to get the desired result while maximising value, controlling costs, and improving speed.
Keep your attention on quality so that you can make deliverables that meet the project’s goals and match the needs, uses, and acceptance requirements set by the right stakeholders.
Evaluate and deal with the complexity of the project on a regular basis so that approaches and plans can help the project team get through the project life cycle.
Evaluate your exposure to risk, both opportunities and threats, on a regular basis to get the most out of the good and the least out of the bad for the project and its results.
Build flexibility and toughness into the way the organisation and project team work to help the project deal with change, bounce back from setbacks, and move forward.
Prepare those who will be affected to adopt and keep up with new and different behaviours and processes that will be needed to move from the current state to the future state that the project outcomes will create.
