Project Sponsor

This term is for the key person who supports and champions the project from start to finish. Since they are the entities that secure funding or resources, they hold the highest role in management. They are not involved in daily tasks, but they are responsible for making sure the project succeeds. 

Other than meeting the needs, the project sponsor has the right to provide direction and make big decisions in the operation. Hence, they can approve changes, resolve conflicts, and decide what goes beyond the team's control. The most crucial part is that they approve how the task will use their money.

Is the project sponsor the same as the client?

They are not always the same, but on some occasions, they can. It is important to note that a client is the person or group who requests and receives the final product. Meanwhile, the project sponsor is the internal leader who supports the entire project. Senior leaders or executives in the organisation usually occupy this role. Therefore, they need to excel at:

• Leadership
• Financial planning
• Strategic planning, and 
• Business management

In short, they are not always the same, but their roles can overlap. The project sponsor's role is to support the operation from inside, delivering what the client needs. For more information, here are the jobs that they need to handle:

Define and approve project objectives

This role has the authority to choose the goal of the operation, making sure it is clear and aligns with the company's overall plan. The project sponsor has to work with senior leaders and the managers to understand what they want to achieve. This means that they set the initial project, the expected outcomes, and the timeline of delivery. 

Provide funding and resources

This is the most critical task that a project sponsor has to do. They need to approve the necessary budget for the task. Doing so includes making sure the assignment has enough money, people, tools, and materials to complete the job. When there is a lack of resources during the process, it is their role to obtain them. Overall, their role ensures that the team does not face delays or interruptions due to a lack of support.

Support the managers

Even though the project sponsor is not involved in day-to-day activities, it is their responsibility to become the key supporter of the managers. They act as a mentor and provide advice, especially when there are major decisions or challenges. For example, when the leaders are having issues with other departments, the sponsor needs to step in. This way, they can help them stay focused and confident.

Make key decisions

Sometimes, unwanted things happen in the workplace. Anytime an issue arises, it requires a crucial decision. The project sponsor has to provide a proper assessment in this situation. They need to decide on changing the goal, the budget, or extending the deadline. In short, they have to review the condition, assess the risks, and make the final call.

Stakeholder engagement

The project sponsor holds a key role in managing relationships with stakeholders. That includes anyone inside and outside of the organisation who has an interest in the operation. Their role is to communicate the goals and progress to top management, ensuring everything is realistic. To achieve this, they have to build trust and commitment among all involved parties. 

Monitor and review progress

As has been discussed before, the project sponsor needs to oversee the whole project and review its progress. Other than keeping an eye on the performance, they need to handle a series of activities. It includes attending major meetings, reading reports, and monitoring if everything is on time and within the budget. More than that, they also need to check if the project continues to add value or not and solve problems if there are any.