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.
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.
As the organizations become more mature in launching projects and designing programs, the key question remains is – did we get the value for the change initiatives we manage? If not, how to go about enhancing it?
Do you find yourself thinking that this benefits management stuff just seems really complicated and you’re not sure what to do? Then this webinar is for you!
In this culturally rich webinar, the author proposes a new approach to analyze failure in projects: exploring common behavioral issues that leads to failure in management. At the end of this webinar, the attendee will have a clear picture of how behaviors affects the project results, and will visualize the necessary skills to address them.
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
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.
This tool tracks progress against proposed benefits for all project benefit metrics. It compares commitments/projections made in business cases with the actual outcomes. If your projects have purely objective metrics and you monitor performance over a fixed time period, you may wish to repurpose this template into Excel to take advantage of the calculation ability. For subjective metrics and/or variable time periods, this Word version provides more flexibility and easier tracking.
Learn From Others
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.
This is the first of six articles on best practices in benefits realization management and its integration into project governance.
The most important question that should be asked before a project is approved is rarely considered. That’s an issue we need to address—that we tend to think of projects as solutions to specific problems.
The definition of success for project managers is changing. Are you making the adjustment, or are you still focused on legacy objectives?
Just because an organization is in the public sector doesn’t mean it doesn’t need to manage to benefits. If we forget about public versus private sector for a moment, the premise that projects are undertaken to deliver results rather than just outputs should be clear.
As project work shifts and evolves to meet the changing needs of the business, what are the implications for our teams—and how do we manage them?
All projects have benefits, even those that are “just an upgrade.” But creating energy and receiving buy-in from the project team is oftentimes much more difficult on smaller initiatives. Here we learn some actionable items that can be used to keep team members engaged and focused on the reasons behind the technical work.
In Part 3 of our look at political challenges for portfolio-focused PMOs, we explore project delivery work and some of the political challenges involved.
As a portfolio-driven approach to project delivery shifts the focus from outputs to benefits, changes become much more common and the organization needs to also shift from a control-based change management environment to a culture that empowers its project teams to make clearly communicated course corrections along the way.
We all recognize the importance of benefits realization management. But benefits are identified and derived from the business case. Without a realistic business case, benefits realization management is hardly worth the effort. A development process based upon an iterative model and the use of best practices can increase the quality and trustworthiness of the business case.
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