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Planning, Monitoring, Follow-up and timely decision are the four important factors of Project Governance to complete the project in the estimated time (Either it is technical or financial issue). Selection of vendors, consultants and executing contractors are the main factors of process governance. Good Cash-flow planning and follow-up is the responsibility of corporate governance, which reflects on process governance.
Project delays occur due to lack of planning at initial stage and resources deployment. Inaddtion the high pace of work withotu realizing engineering practices need time all tiers always bent upon progress as client. Other important aspect is the financial support issometimes not regular and due to delay in payments projects do suffer.
I think the lack of experience in PMP framework Is the biggest challenge facing the project