Better ROI with Benefits Realization Management: Pre-Project and Post-Project Strategies
Why should your organization spend money on projects?
It’s a blunt question that we need to be able to answer as project managers. If we don’t answer, others will guess about our value. And we may not like their guesses!
Fortunately, benefit realization management (BRM) offers a set of strategies and techniques to help organizations obtain value from projects. Before going further, take a moment to underscore the importance of benefits. Without a clear approach to identify, track and communicate benefits, projects are likely to be seen as an unproductive cost. Few organizations will tolerate spending resources on such activities for long.
There are two points in the project lifecycle to focus on when it comes to benefits management. First, BRM helps organizations at the pre-project and planning stages to select and fund the right projects. Effective selection reduces waste and non-strategic projects. Second, BRM comes to play at the post-project phrase--taking a long-term view to look at the project six months, one year and later after the project completion. As you start work on your next project, make sure you have a plan to proactively measure and communicate benefits.
Pre-Project Strategies: Plan Benefits Before You Start
Many of us are familiar with the recommendation to plan for quality at the beginning of a project. In the same way, it
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