Corporate and project governance requiring certification for meeting planned

Megaprojects are complex and have a lasting economic, environmental & societal impact and monetary commitment. The governances associated with them are dysfunctional, inadequate, poorly structured, or absent. There is no occupational license or certificate required to manage megaprojects. The ability to manage such big projects has been increasingly concerning and apparent, with nine out of 10 projects being overrun by 50 to 100% over budget.The problem to be addressed by this study is infrastructure megaprojects are continuously going over budget due to a lack of accountability, inadequate skill, and deficient governance in place. Project managers can voluntarily pursue a certificate, but presently there is no occupational license or certification required to manage megaprojects. It is critical to both economic competitiveness as well as the stability of the global economy for megaprojects to get completed within budget. The problem persists globally. In general, companies struggle with identifying, implementing, managing, and adhering to governances.The purpose of this quantitative correlational study is to discover if there is: 1) a relationship between corporate governance adherence for project management stakeholders on megaproject budget observance. 2) a relationship between project governance adherence for project management stakeholders on megaproject budget observance. 3) a relationship between professional certification for project management stakeholders on megaproject budget observance. The classical management theory is a style of management that emphasizes hierarchy, specialized roles, and single leadership for optimized efficiency in the workplace. The complexity of the situation requires two theories to be considered in the study. The administrative theory emphasizes on organizational management and the human and behavioral factors in management by separating activities by departments. By departmentalizing and working collectively toward a common goal, tasks can be accomplished more effectively down to the lower levels. The population will consist of executive members (i.e., CEO, Vice President), project managers, planners, and project control directors that have worked on mega projects within the past 5 years or more. The current study determined that there is no statistically significant relationship between corporate governance adherence for project management stakeholders on megaproject budget observance, there is a statistically significant relationship between project governance adherence for project management stakeholders on megaproject budget observance based on the current study, and. there is no statistically significant relationship between professional certification for project management stakeholders on megaproject budget observance based on the current study. To address research questions a one-way ANOVA was performed on all questions. A selection of program/project managers was contacted by the researcher via email and/or social media. The email contained an explanation of what the purpose of the study was as well as a link to the survey that was hosted on Qualtrics. The results of this study have several implications that contribute to the theory of administration management. The empirical and theoretical literature lacks consistency on how corporate governance affects financial performance, while corporate governance literature generally remains insufficient and incomprehensive. In this study, there is a mix of results in which governance has an effect and has no effect on performance. By establishing a governance board and standardizing governance among the project management community, then it may be possible to get more definitive results. In addition, conducting research projects using similar variables would minimize ambiguous results.