Project Sponsorship - Revision history

S182299: /* Sponsors as risk-takers */

2019-03-04T20:29:35Z

Sponsors as risk-takers

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	*The risk of negative consumer responses to a sponsor being associated with multiple events.		*The risk of negative consumer responses to a sponsor being associated with multiple events.

	Risk behavior refers to decision-making behaviors in contexts associated with uncertain outcomes*. In project sponsorship, such as behaviors could be expressed from some individual characteristics (i.e risk preferences, risk perceptions and so on) and from some organizational characteristics (i.e group composition, cultural risk values). Moreover, problem-related characteristics (such as problem familiarity and problem framing) are also included in terms of sponsorship risk decision-making. All these characteristics could be used to define a project sponsor as a risk-taker or as the one who avoids the risk and could be also used for shaping a sponsors-decision making profile.		Risk behavior refers to decision-making behaviors in contexts associated with uncertain outcomes<ref name="Margaret johnson"></ref>. In project sponsorship, such as behaviors could be expressed from some individual characteristics (i.e risk preferences, risk perceptions and so on) and from some organizational characteristics (i.e group composition, cultural risk values). Moreover, problem-related characteristics (such as problem familiarity and problem framing) are also included in terms of sponsorship risk decision-making. All these characteristics could be used to define a project sponsor as a risk-taker or as the one who avoids the risk and could be also used for shaping a sponsors-decision making profile.
	Concluding, in almost all the projects both sponsors, and managers are those who need to identify risks and then decide in which way each stage of the project will accomplished.		Concluding, in almost all the projects both sponsors, and managers are those who need to identify risks and then decide in which way each stage of the project will accomplished.

S182299: /* Abstract */

2019-03-04T19:39:25Z

Abstract

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	=Abstract=		=Abstract=
	[[ File:Goverance.png\|thumb\|360px\|Governance as part of the Sponsor-Project Manager Relationship<ref name="walker"></ref>. ]]		[[ File:Goverance.png\|thumb\|360px\|Governance as part of the Sponsor-Project Manager Relationship<ref name="walker"></ref>. ]]
			The scope of this article is to explain concisely the definition and role of project sponsorship, as well as to elaborate the aspects of sponsorship as a marketing tool. A literature approach to project sponsorship is given by many bibliographic resources, describes the project sponsorship as the ownership of project on behalf of the client or organization.
	Project Sponsorship relates to and differs from Project Management, as well as defines the role of sponsor by linking it strongly with principals such us leadership, risk-taking and strategy planning.		Project Sponsorship relates to and differs from Project Management, as well as defines the role of sponsor by linking it strongly with principals such us leadership, risk-taking and strategy planning.

S182299: /* Abstract */

2019-03-04T19:19:51Z

Abstract

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	=Abstract=		=Abstract=
	[[ File:Goverance.png\|thumb\|360px\|Governance as part of the Sponsor-Project Manager Relationship ]]		[[ File:Goverance.png\|thumb\|360px\|Governance as part of the Sponsor-Project Manager Relationship<ref name="walker"></ref>. ]]
	Project Sponsorship relates to and differs from Project Management, as well as defines the role of sponsor by linking it strongly with principals such us leadership, risk-taking and strategy planning.		Project Sponsorship relates to and differs from Project Management, as well as defines the role of sponsor by linking it strongly with principals such us leadership, risk-taking and strategy planning.

S182299: /* Role and Contribution of Sponsorship in Projects */

2019-03-04T19:19:21Z

Role and Contribution of Sponsorship in Projects

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	=Role and Contribution of Sponsorship in Projects=		=Role and Contribution of Sponsorship in Projects=
	[[ File:Sponsor's role in project.png\|thumb\|350px\| The role of project sponsorship: Select-Finance-Champion a Project ]]		[[ File:Sponsor's role in project.png\|thumb\|350px\| The role of project sponsorship: Select-Finance-Champion a Project<ref name="walker"></ref>. ]]
	Defining pojects' sponsorship, or simpler the sponsor’s contribution in a project lifecycle is vital. Considering the sponsor as a person or group that provides financial resources, its contribution begins from the conception of a project and ends with a completion of it.		Defining pojects' sponsorship, or simpler the sponsor’s contribution in a project lifecycle is vital. Considering the sponsor as a person or group that provides financial resources, its contribution begins from the conception of a project and ends with a completion of it.
	Begging with the conception of a project as an idea, the contribution of sponsor starts with the selection of the most profitable one by defining what is and what is not to scope. Having selected the idea and starting it through a project charter, sponsorship mainly contributes in financing it.		Begging with the conception of a project as an idea, the contribution of sponsor starts with the selection of the most profitable one by defining what is and what is not to scope. Having selected the idea and starting it through a project charter, sponsorship mainly contributes in financing it.

S182299: /* Sponsorship Relationship */

2019-03-04T19:18:08Z

Sponsorship Relationship

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	==Sponsorship Relationship==		==Sponsorship Relationship==
			[[ File:Diagram.jpg\|thumb\|380px\|The sponsorship relationship in project life cycle<ref name="relationship"></ref>. ]]
	In many competitive and complicated business environment, an increasing number of sponsors and/or sponsored parties refer to one another as partners while processing a project. Such partnerships reflect the complexity of sponsorship relationship. Thus, the strategic role of sponsorship is recognized as well as the potentials of creating value from a sponsorship relationship.		In many competitive and complicated business environment, an increasing number of sponsors and/or sponsored parties refer to one another as partners while processing a project. Such partnerships reflect the complexity of sponsorship relationship. Thus, the strategic role of sponsorship is recognized as well as the potentials of creating value from a sponsorship relationship.
	From a dynamic perspective, it can be assumed that sponsorship relationship is a long-term, inter-organizational relationship that adapts and develops over time<ref name="relationship">L. Urriolagoitia, M. Planellas;Sponsorship relationships as strategic alliances: A life cycle model approach; Volume 50, Issue 2, March–April 2007, Pages 157-166		From a dynamic perspective, it can be assumed that sponsorship relationship is a long-term, inter-organizational relationship that adapts and develops over time<ref name="relationship">L. Urriolagoitia, M. Planellas;Sponsorship relationships as strategic alliances: A life cycle model approach; Volume 50, Issue 2, March–April 2007, Pages 157-166

S182299: /* Abstract */

2019-03-04T19:14:20Z

Abstract

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	=Abstract=		=Abstract=
			[[ File:Goverance.png\|thumb\|360px\|Governance as part of the Sponsor-Project Manager Relationship ]]
	Project Sponsorship relates to and differs from Project Management, as well as defines the role of sponsor by linking it strongly with principals such us leadership, risk-taking and strategy planning.		Project Sponsorship relates to and differs from Project Management, as well as defines the role of sponsor by linking it strongly with principals such us leadership, risk-taking and strategy planning.

S182299: /* Role and Contribution of Sponsorship in Projects */

2019-03-04T19:11:08Z

Role and Contribution of Sponsorship in Projects

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	=Role and Contribution of Sponsorship in Projects=		=Role and Contribution of Sponsorship in Projects=
			[[ File:Sponsor's role in project.png\|thumb\|350px\| The role of project sponsorship: Select-Finance-Champion a Project ]]
	Defining pojects' sponsorship, or simpler the sponsor’s contribution in a project lifecycle is vital. Considering the sponsor as a person or group that provides financial resources, its contribution begins from the conception of a project and ends with a completion of it.		Defining pojects' sponsorship, or simpler the sponsor’s contribution in a project lifecycle is vital. Considering the sponsor as a person or group that provides financial resources, its contribution begins from the conception of a project and ends with a completion of it.
	Begging with the conception of a project as an idea, the contribution of sponsor starts with the selection of the most profitable one by defining what is and what is not to scope. Having selected the idea and starting it through a project charter, sponsorship mainly contributes in financing it.		Begging with the conception of a project as an idea, the contribution of sponsor starts with the selection of the most profitable one by defining what is and what is not to scope. Having selected the idea and starting it through a project charter, sponsorship mainly contributes in financing it.

S182299: /* Annotated Bibliography */

2019-03-04T19:04:29Z

Annotated Bibliography

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 =Annotated Bibliography=
 =References=
 <references />

S182299: /* Sponsorship commercialization */

2019-03-04T18:40:32Z

Sponsorship commercialization

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	In some projects, especially in big ones such us business, government or engineering projects, a significant proportion of the financial resources is captured of marketing budgets.<ref name="exposure">Reinhard G. Heribert R. Sponsorship effects on brand image: The role of exposure and		In some projects, especially in big ones such us business, government or engineering projects, a significant proportion of the financial resources is captured of marketing budgets.<ref name="exposure">Reinhard G. Heribert R. Sponsorship effects on brand image: The role of exposure and
	activity involvement;University of Innsbruck, Austria		activity involvement;University of Innsbruck, Austria
	and University of Vienna, Marketing Department, ~~Oskar-Morgenstern-Platz 1, A-1090 Vienna, Austria~~;~~2010~~</ref> Thus, another aspect of project sponsorship that unfolds, is sponsorship as marketing communicational tool. Somehow, well handled sponsorship could achieve success by changing or strengthening customers’ perceptions because of its credibility, or due to its ability to create commercial intentions. Furthermore, when companies or projects’ stakeholders support these kind of promotion practices and activities, the sponsorship’s prestige is benefited and as a result it improves the whole projects’ image.		and University of Vienna, Marketing Department,;Journal of Business Research 67 (2014) 1018–1025</ref> Thus, another aspect of project sponsorship that unfolds, is sponsorship as marketing communicational tool. Somehow, well handled sponsorship could achieve success by changing or strengthening customers’ perceptions because of its credibility, or due to its ability to create commercial intentions. Furthermore, when companies or projects’ stakeholders support these kind of promotion practices and activities, the sponsorship’s prestige is benefited and as a result it improves the whole projects’ image.

	Regarding the “image” of a project, sponsorship aims to improve it in several dimensions. A common image-improvement scenario is the Socio-sponsorship,<ref name="exposure"></ref> the sponsorship of a charitable organization for instance, that can benefits associations and the overall prestige and reputation of a project.		Regarding the “image” of a project, sponsorship aims to improve it in several dimensions. A common image-improvement scenario is the Socio-sponsorship,<ref name="exposure"></ref> the sponsorship of a charitable organization for instance, that can benefits associations and the overall prestige and reputation of a project.

S182299: /* Definition of Sponsorship */

2019-03-04T18:38:43Z

Definition of Sponsorship

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	=Definition of Sponsorship=		=Definition of Sponsorship=
	Project sponsorship is defined as the ownership of projects on behalf of a client or organization in terms of corporate accountability. It is strongly connected with leadership and it is improved by awareness of different leadership, styles, models etc.<ref name="https://www.businessballs.com">https://www.businessballs.com/</ref> It is also closely connected to delegating responsibility and related techniques. Project Sponsorship and Project Management are linked crucially together and are mutually dependent roles, but the key difference between them is that Project Sponsorship mainly involves in other important issues such us authorizing changes in scope, phase-end reviews and go/no-go decisions when risks are particularly high.<ref name="https://www.pmi.org/">https://www.pmi.org/</ref> Although Project Management literature often discusses the role of the Project Executive Sponsor, it fails to describe the factors contributing to effective Project Sponsorship, a role that is increasingly associated with Project success. This failure is exacerbated by research focusing on either the structural or the behavioral factors are most commonly defined as key project roles.<ref name="Helm J">Helm J., Remington, K. Effective project sponsorship: an evaluation of the role of the executive sponsor in complex infrastructure projects by senior project managers; Project Management Journal; 2005 </ref>		Project sponsorship is defined as the ownership of projects on behalf of a client or organization in terms of corporate accountability. It is strongly connected with leadership and it is improved by awareness of different leadership, styles, models etc.<ref name="https://www.businessballs.com">https://www.businessballs.com/</ref> It is also closely connected to delegating responsibility and related techniques. Project Sponsorship and Project Management are linked crucially together and are mutually dependent roles, but the key difference between them is that Project Sponsorship mainly involves in other important issues such us authorizing changes in scope, phase-end reviews and go/no-go decisions when risks are particularly high.<ref name="https://www.pmi.org/">https://www.pmi.org/</ref> Although Project Management literature often discusses the role of the Project Executive Sponsor, it fails to describe the factors contributing to effective Project Sponsorship, a role that is increasingly associated with Project success. This failure is exacerbated by research focusing on either the structural or the behavioral factors are most commonly defined as key project roles.<ref name="Helm J">Helm J., Remington K.; Effective project sponsorship: an evaluation of the role of the executive sponsor in complex infrastructure projects by senior project managers; Project Management Journal; 2005 </ref>
	Project sponsorship could be provided by number of organizations, including international scientific unions and committees, intergovernmental entities, national space agencies, private companies and in some cases, could by provided by an individual.		Project sponsorship could be provided by number of organizations, including international scientific unions and committees, intergovernmental entities, national space agencies, private companies and in some cases, could by provided by an individual.