Even in times of plenty, investing in a strong SteerCo capability is vital, so it makes sense to double down on it when times are tough. Upskilling leaders sharpens governance, enhances collaboration and ensures projects navigate risks, manage resources effectively and deliver results.
In challenging economic conditions, organisations often find themselves balancing tight budgets, heightened risks and unrelenting delivery expectations. Often it means ‘fewer projects’ and an urgent need for each one to be a success. The stakes are high, and effective governance becomes more important than ever. Steering Committees (SteerCos) – the often-underappreciated cornerstones of project oversight – play a critical role in navigating these challenges.
But for SteerCos to truly fulfil their potential, they need more than good intentions. They need the right tools, insights and capabilities to adapt to a constrained market.
There’s a growing demand for SteerCo capability uplift, which reflects a simple truth: despite the tough economic conditions, it’s not just about doing more with less – it’s about doing it smarter and with less risk. And while this is true of all projects, when core systems like payroll or HRIS are on the line, the margin for error is razor-thin.
The unique role of the project SteerCo
SteerCos occupy a distinctive position in project governance. They don’t roll up their sleeves and handle the day-to-day; that’s the project manager’s domain. Instead, they provide the guardrails – overseeing risk, managing budgets and ensuring strategic alignment. Think of them as the strategic steering wheel that keeps a project on the road, no matter how rough the terrain gets.
More than anything, a SteerCo is a decision-making body. It asks the hard questions about risks, finances and progress. It clears roadblocks. It creates a forum where diverse leaders – project sponsors, business owners and senior stakeholders – come together to make meaningful decisions. Done well, this collaboration ensures that even with the headwinds of a constrained market, projects move forward with purpose and direction.
Rising to the challenge of constrained markets
In environments where resources are stretched and risks are amplified, the expectations placed on SteerCo members intensify. Simply attending meetings and approving updates no longer suffices. Members must actively step into their roles, applying critical thinking and providing the kind of strategic thinking and tactical guile that ensures projects stay on course. These attributes aren’t optional – they’re non-negotiable.
This is where capability uplift becomes indispensable. Truly effective SteerCo members rise above the traditional notion of senior oversight. They understand where governance ends and delivery begins, ensuring accountability is clear and decisions are informed. They are equipped to anticipate and address risks long before they become critical, adapt to shifting organisational priorities while maintaining strategic alignment, and keenly focus on where the value lies and how it can be extracted. They help to build collaboration within the project ecosystem, creating an environment where challenges are tackled both proactively and constructively.
What’s more, strong SteerCos don’t just oversee; they interrogate (and we don’t mean interrogate like they are running a criminal investigation). The best ones make curiosity and clarity their guiding principles. At every meeting, they ask:
- Are we on schedule? How do we know?
- Is the budget under control? What evidence supports this?
- Have we secured the right approvals for completed deliverables?
- What are the biggest risks we face, and what are we doing about them?
- How is the team holding up, and what do they need from us?
Critically, answering these questions isn’t just a matter of ticking boxes. They’re prompts that uncover hidden issues, drive better decisions and keep projects on course.
Investing in SteerCo capability uplift
In times of constraint, when other investment levers are reduced or eliminated, developing SteerCo capability becomes one of the few strategies left to drive improvement – and thankfully, it can provide outsized return on your investment. With budgets under pressure but expectations unchanged – or even heightened – the ability to do more with less often hinges on the strength of your governance. Upskilling SteerCo members isn’t just a nice-to-have; it’s a crucial tool for ensuring projects remain effective and risks are identified and contained early.
However, developing SteerCo capability is a niche area that organisations rarely have the expertise to manage in-house. This is where external support can add real value. Specialist providers not only bring deep knowledge of governance and decision-making best practices, but also create a safe, judgement-free space for leaders to grow.
For many SteerCo members, these roles require new skills and ways of thinking, yet few have the opportunity to openly acknowledge or address those gaps. This guidance is usually a game-changer, equipping members with the tools and confidence to excel in their roles. This is an investment in leadership, with the flow-on effects far outlasting the projects themselves.
The benefits of SteerCo upskilling extend well beyond the immediate project. Capability uplift sharpens strategic focus, clarifies governance responsibilities and strengthens collaboration. It builds a foundation of leadership and resilience that carries across future initiatives, setting a strong foundation for the long-term.
Empowering the SteerCo to deliver
In constrained markets, when expectations and risks are high, success isn’t about having more – it’s about making the most of what you have. SteerCo capability uplift is an investment in clarity, alignment and resilience – both today and in the future. It ensures that the people steering projects are empowered to ask the right questions, make the tough calls and lead with confidence.
The challenges of the current market may be daunting, but with the right SteerCo in place, even the most constrained environments can become fertile ground for successful project delivery.
To find out more about how Quay Consulting support your SteerCo members with a capability uplift program, please contact us here or call 1300 841 048 to talk to the team.