Project Management theories and Corporate Governance: Towards Effective Management of Small Farming Cooperative Projects

Abstract

Project management is defined as the process of applying project knowledge, skills, tools and processes to the established tasks of a project to fulfil the objectives of the project. The planning, execution, controlling, monitoring and closure processes are guided by domains of expertise such as integration, scope, budget, schedule, quality, procurement, communication, human resources, stakeholder management and risk management. This paper sought to analyze theories of project management and corporate governance for effective management of small farming cooperatives. The study adopted a conceptual approach to demonstrate the managerial processes of the theories of project management and corporate governance and how they relate to one another. In the process the literature has revealed that project management is seen by organizations as new methods to plan and manage changes. These planned activities, if not properly coordinated using project management skills, may lead to an unsuccessful project. Project success depends on number of factors ranging from project efficiency, impact on the customer, impact on the project team impact and business or organizational success. The Corporate governance (CG) has been increasingly prevalent in organizations in recent years, and its significance is now acknowledged on a global scale. It has even been adopted by countries where regulations governing the use of CG in organizations have yet to be implemented. The reason for CG's universal appeal is that it serves as the cornerstone of an organization’s operational structure. The article concludes with the relevance of these theories towards effective management of small farming cooperatives.