Definition

A Steering Committee is a group of people responsible for providing guidance and direction to a project. It is typically composed of senior-level executives from the organization, such as the CEO, CFO, or other high-ranking officials. The committee is responsible for setting the overall goals and objectives of the project, as well as monitoring its progress and making any necessary changes.

Purpose

The purpose of a Steering Committee is to ensure that the project is on track and meeting its goals. The committee provides oversight and guidance to the project team, ensuring that all stakeholders are kept informed of progress and any potential risks or issues. Additionally, the committee can provide valuable input into decisions related to budgeting, resource allocation, and other important aspects of the project.

Benefits

Having a Steering Committee in place can help ensure that projects are completed on time and within budget. By having senior-level executives involved in the decision-making process, it helps to ensure that projects are aligned with organizational goals and objectives. Additionally, having a Steering Committee can help to reduce risk by providing an additional layer of oversight and accountability.