Describe the role of governance structures in a strategic FM initiative.

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Governance structures in a strategic FM initiative establish who makes decisions, who approves major investments, and how progress is monitored against the overall strategy. They provide oversight over the program, ensuring actions stay aligned with strategic objectives and that scarce resources—money, people, and assets—are authorized and allocated to the right initiatives. This framework also defines accountability, risk management, and escalation paths, so issues are addressed promptly and there is clear transparency about progress and value realization. It’s about setting the rules of engagement and ensuring coordination across stakeholders, not performing day-to-day operations. While budgeting is part of governance, its role goes beyond reporting to include authorization and strategic alignment. Governance is essential for a strategic FM initiative to prevent drift, misallocation, and missed objectives.