A maturity model for project management can be used to evaluate the current levels of process proficiency within an organization. It’s also useful for setting goals and creating the plan for implementing improvements.

The majority of boards begin at the lower end of the spectrum of maturity for board management. They are aware of their responsibilities as well as risks but are reluctant to spend time on governance, claiming it distracts them from their ‘proper’ jobs of running the business. It is essential that boards are aware that governing requires its own level professional development assessment and evaluation as well as training. It is a risky venture that requires creativity, willingness and ability to take risks against an external world of demographic and economic trends as well as physical environment changes.

The next step is for the Board to take the conscious decision to move along the board management maturity ladder towards ‘The Learning Board.’ This means removing the traditional emphasis on Accountability and Management Supervision, and towards a concentration on Strategic Thinking and Policy Formulation. This is a significant change in the way that boards function and typically requires some outside support to get the required new approach in place. It also requires the development of an annual process for publicly publishing internal information on the board’s learning and the emotional climate. It is also a time when the Chairman, assisted by the Company Secretary, must lead the rebalancing of a board’s schedule away from ‘hard’ business results to a more focused agenda on the unique external challenges facing the company.

role of company secretaries