अस्तित्वम् तत् सत्।
It is written in Manusmriti “Dharmo Rakshati Rakshitah”, which means “Dharma protects the one who protects Dharma”.
Project Sponsorship | Astitvam Foundation
Project sponsorship is the ownership of project/s on behalf of the business/non-profit organization. There are two main differences between project sponsorship and project management. Firstly project sponsorship includes the identification and definition of the project, whereas project management is concerned with delivering a project that is already defined, if only quite loosely. Secondly the project sponsor is responsible for the project’s business case and should not hesitate to recommend cancellation of the project if the organization no longer justifies the project.
A project sponsor is an individual or an organization that owns the project and provides essential resources and valuable support for the project, event, program or portfolio in order to enable its success. Sponsors are business leaders who play a key role in promoting, advocating and shaping the project work. They bring together financial and non-financial considerations, with a risk analysis for the investment that enables decision-makers to have an indication of the confidence they have in the projected returns.
One or more than one sponsors are the reason for the successful execution of the project. While they don’t manage the day-to-day operational activities of a project, they are above the project manager in terms of the project hierarchy. Most likely, the project sponsor has been involved with the project from the very beginning. They were the ones who helped conceive it and advocated for it. Project sponsors can encourage separation of decision making responsibilities between project manager and project sponsor, accountability for the realization of project benefits, oversight of the project management function and can carry out senior stakeholder management. The project sponsor is responsible for many aspects of the project, from initiating and ensuring success to approving and establishing parts of the project.
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