What Is a Project Sponsor?
A project sponsor is an individual or organization agreeing to support a specific project or endeavor financially. Often, the project sponsor is also responsible for steering the project toward its goals.
A project sponsor can be a company, an individual, or a group. Most often, project sponsors are organizations, such as universities or businesses. However, a few individual project sponsors have also been known to exist.
A project sponsor is often a decision-maker concerning to the project. They are responsible for ensuring that the project meets the goals set for it, and the necessary resources are available to complete the project on time and to the required standards.
Typically, a project sponsor is involved in the early stages of a project and then gradually fades away as the project progresses. They are, however, always available to answer any questions provide feedback on the progress of the project.
To be a good project sponsor, it is important to understand the project being sponsored and understand the goals that the project is aiming to achieve. It is also important to provide the necessary resources, and be willing to take on any risks associated with the project.