The project sponsor (and/or steering committee) is the internal recipient of project results. He will have the final say in decisions which affect cost, schedule and performance constraints. A good project sponsor increases the level of confidence felt by the project manager. The project sponsor helps the project manager stay positive and solve problems with the project team. During the course of the project, the sponsor communicates to senior management and to other stakeholders.
From PMI’s Pulse of the Profession (2013): … the Pulse shows that organizations with active project sponsors are more likely to have better project outcomes. More than three quarters of projects at high-performing organizations enjoy active project sponsors, compared to less than half at low-performing organizations…
From an organizational project management view the sponsor plays a key role in achieving project success. Cadence effectively supports sponsors by Executive Briefings, Workshops in Project Sponsorship or Portfolio Management training courses, coaching and consulting.