The iterative and incremental nature of agile makes an agile approach seemingly less compatible with project governance or oversight. Traditional, sequential approaches to project management are a more natural fit with management’s desire for oversight on projects.
The purpose of project oversight, commonly called governance, is to make sure a project does not go astray.
Effective project governance can, for example, identify a project that will exceed its budget, leading to conversations about whether the project should be canceled. Governance can also identify a product that is drifting too far from its original goals, a project that is deviating from an architectural standard, or any number of similar high-level considerations important to the organization.