A project management maturity is a way to determine the current levels of process expertise within an company. It can be used to set goals and develop a plan for implementing improvements.
The majority of boards begin at the lower end of the spectrum of maturity for board management. They are aware of their obligations and risks, but they are reluctant to dedicate time to governance because it is a distraction from their main duties managing the company. It is vital that boards are made aware that governing is a process that requires its own level of professional development assessment evaluation and training. It is a risky endeavor that requires a lot of imagination, a willingness and ability to take risks in the face of economics and demographic trends as well as physical changes to the environment.
The next step for a Board is to take the conscious decision to move up the board management maturity scale toward ‘The Learning Board’. This means moving away from the traditional focus on Accountability and Management Supervision to a greater focus on Policy Formulation and Strategic Thinking. It’s a major shift in the way that the board functions and usually requires some external support to get the required new ideas implemented. It also involves developing an annual process for publicly publishing internal trends on the board’s collective learning and the emotional atmosphere. The Chairman, assisted by the Company secretary, should also lead the rebalancing the agenda of the board away from « hard business click this over here now results » and towards a more focused schedule on the company’s external problems.