The person who funds the project is the project sponsor. Sponsor can be an individual, a group of people, an organization or a group of organizations. As a sponsor, they are accountable for;
- Ensuring that sufficient funds are provided to the project on time
- Conducting senior management reviews (stage gate or phase gate reviews), to evaluate the current progress and to decide whether the project can progress into the subsequent phases or not.
- During initiation of a project, it is the responsibility of the sponsor to prepare and release the project charter.
- Any changes to the project charter need to be re-approved by the sponsor.
- In a customer (external) – supplier relationship, mostly the sponsor will be from the customer’s organization.
- If it is an internal project, mostly the sponsor will be internal to the organization.
