Governance Framework
The structure and set of rules that define how decisions are made, risks are managed, and accountability is maintained throughout the project.
Implications
The structure and set of guidelines that define the roles, responsibilities, processes, and practices that ensure effective oversight, decision-making, and accountability within an organization, often encompassing corporate governance, risk management, and compliance functions.
Example
Example: A multinational corporation develops a governance framework that includes clear roles for its board of directors, audit committee, and executive management, ensuring that decision-making is aligned with the company�s strategic goals and ethical standards.
Related Terms
Different from a governance policy, which might focus on specific rules or procedures, a governance framework provides a comprehensive structure that integrates all aspects of governance across the organization.
Get INSTANT comprehensive market research of any industry
Chat with AII Consultant Now!
