Who is the Project Sponsor?

A project sponsor is a key individual within an organization who typically provides leadership, direction, and support for a project. The project sponsor is usually a senior-level executive or manager who has the authority and responsibility to champion the project, allocate resources, and ensure its success.

for more: What Is a Project Sponsor? Roles & Responsibilities

Role of Project Sponsor

Here are the Following Roles of Project Sponsor:

• Initiating the Project: There are initial elements that the sponsor comes in during, for instance, defining the goals, the scope, and expected outcomes of the project. They might also do this as well as approving the project and budgeting for it.
• Providing Strategic Direction: A sponsor is a person who provides the strategic role of guidance and an organization’s goals work, mission, and orientation in the strategic priorities.
• Securing Resources: The sponsor will advance the task of acquiring relevant resources such as funds, staff, equipment, or other required support for the project.
• Supporting the Project Team: The sponsor leads the way for the project team by rallying support, providing direction, and inspiring success with the defined objectives.
• Communicating with Stakeholders: This sponsor communicates with stakeholders such as the senior management, customers and clients among others who are concerned about the project to give them up-to-date information such as the progress and accomplishments.
• Monitoring Progress: The sponsor closely observes the work of the project and keeps a record of its progress and performance in every phase to make sure that it is by its objectives within the assigned period and budget.

Salary of Project Sponsor

The salary of the project sponsor is depending upon the nature of the project. For instance, the chief information officer could be the sponsor of an IT initiative. Their annual pay is $126,313 on average.

In any project, the roles of project manager and project sponsor are pivotal yet distinct, each contributing unique perspectives and responsibilities to ensure project success. While both play essential roles in guiding the project towards its objectives, they operate at different levels of authority and focus on distinct aspects of project management. The project manager is responsible for the day-to-day execution and delivery of the project, managing resources, risks, and stakeholder communication.

In this article, we are going to learn the difference between Project Management and Project Sponsor.