This article aims to clarify and widen the status quo around value, especially at the enterprise level. It also aims to offer an explanation of value management that goes beyond the notion of value engineering and process-based tools, which seem to “force” an outcome. It introduces a new framework for creating and capturing business value that is integrated and sustainable.
The PM community has great models for how projects should work, and a wealth of good advice on how to make basically sound programs and portfolio management more effective. Unfortunately the business of selling PM effort is often in conflict with the profession of delivering PM services. We see this in the form of impossible deadlines, unrealistic promises, and estimates based on client budget rather than true cost of execution. In this session we’ll explain why this enormous problem continues to exist, show you how to assess the resulting risk on your own project / program / portfolio effort, and share proven strategies you can apply to minimize the impact. Every PM, regardless of experience or skill level, will benefit from this session.
Lessons Learned is one of the worst oxymorons in the project management profession. This webinar will cover many of the common challenges experienced with the implementation of lessons learned practices and will provide some practical ideas on how to gain greater value from this critical practice.
We all struggle with the concept of uncertainty, but it does not deter us from trying from planning the unplannable. This webinar will focus on developing project teams with the ability to share and collaborate turning ambiguity from a deficit to a vehicle that allows your assignee's to produce added-value deliverables. We start this webinar by describing the current situation in how disjointed teams directly contribute to project failure. The effectiveness of a games model, through use of project-based simulation, is then characterized. The basis of this webinar is then illustrated through a number of situational real-life exercises performed. Lastly, we discuss the expectations of this approach, listing some of the lurking pitfalls of this method.
In the context of benefits management a comment was recently made that a benefit map was the most valuable tool, but is often misunderstood and/or misused. Benefits maps can be the most valuable tool in the benefits management toolkit which can provide a huge amount of value - if done correctly.
You might have noticed that there is more and more chatter about ‘Benefits’, ‘Benefits Management’ or ‘Benefits Realization Management’ and several thoughts may have gone through your mind. This webinar will explore what Benefits Realization Management is and why it is important.
This blog will look at the practice of benefits realization and how it applies to both Program Management and the overall Portfolio, Program, Project Methodology (as well as Business Analysis and Organizational Change Management)
Save Time With Tools + Templates
The goal of this business case template is twofold: Clearly explain the project benefit to decision makers; and provide traceable, measurable and consistent data for benefit realization analysis after project implementation. This template has annotated instructions in blue to explain the intent or recommended use of the information. Organizations can adapt the template to their unique structure.
Large projects often require tracking by work streams. Work streams are the progressive completion of tasks by a specific group or project team. For example, the work streams for a manufacturing facility may include engineering, drafting, procurement, fabrication, quality control and shipping.
Learn From Others
The final article in our series addresses setting benefits owners up for success. This is essential because the only value derived from a project comes post-implementation, and the busy people responsible for sustaining the benefits need clear roles and simple procedures. Putting that together allows a last chance to resolve any remaining hiccups.
Unfortunately, not all projects successfully deliver what they set out to achieve. The harsh reality is that some projects end up being cancelled. In this article, the author explores why some projects should be cancelled, identifying two main categories of cancellation—and how they should be handled.
A new program can be a confusing time for your team and stakeholders. What’s the program all about? How will we know that we have delivered? At this stage, the end goal may be as little as a vaguely defined strategic intention. Here are seven ways to make sure your program vision sticks.
This is the fifth of six articles on best practices in benefits realization management and its integration into project governance. Here we address creating benefits realization strategies. This helps ensure clarity around post-implementation roles, engages impacted functions by involving them in determining monitoring strategies, and facilitates post-implementation monitoring and review processes.
When program management is born in a business, circumstances are seldom ideal . Yet when it occurs, businesses realize that program management's many benefits are just what is needed to fight the competition.
This is the fourth of six articles on best practices in benefits realization management and its integration into project governance. Here we address communicating a powerful benefits message.
This is the third of six articles on best practices in benefits realization management and its integration into project governance. Here we address justifying project funding and resourcing on strategic value. This helps organizations demonstrate accountability, shows that the executive leadership team is walking its talk, and keeps the focus on initiatives that offer the greatest value.
This is the second of six articles on best practices in benefits realization management and its integration into project governance. In the BRM discipline, projects and programs are aligned with strategic objectives to generate verifiable value. This happens through three stages: benefits identification, benefits realization and benefits sustainment.
In order to maintain and increase efficiency from operations, it’s critical that mature financial services organizations drive transformational change through innovation. This article shares a few key themes that need to be addressed before, during and after the implementation of a robotics process automation initiative in a financial services setting.
Ask a Question