SteerCo (steering committee)
A steering committee that provides oversight and direction for a project and makes decisions within its delegated authority. Its membership, responsibilities, and escalation routes depend on the project.
SteerCo (steering committee) in practice
Hypothetical: a project team asks its steering committee to approve a revised budget within the committee’s delegated limit. A larger increase must go to the authorized decision-maker. A committee discussion does not by itself change a transaction’s contractual closing date.