An Iterative Risk Management-Based Strategy for Benefits Realization

Irfan Shariff is an expert project manager with a passion for delivering exceptional results for his clients. He is passionate about driving the utilization of project management in its entirety in organizations so that they can repeatedly deliver exceptional value to their stakeholders in the most effective and efficient way. He can be reached at [email protected].

  Benefits Realization   Change Management   PMO   Portfolio Management   Risk Management   Strategy  

The multi-hued “freckled lemonade”--seemingly bursting in joy while displayed on a dazzling tabletop kiosk that adorns the October 2015 PM Network cover page--stands out in stark contrast to the surrounding emptiness of the restaurant housing it.

It is an appropriate metaphor for this month’s theme of benefits realization. Although I’m sure this isn’t the intent of the illustrator, the cover seems to be screaming out: “The project is done, but where are the customers? Where are the benefits?” While we may debate whether it is the project manager’s job to help realize the benefits or somebody else’s, what is not debatable is that if projects don’t deliver benefits, companies eventually go out of business.

So even though the project manager may not own the delivery of benefits, I believe the individual project manager can facilitate benefits realization and--more strategically--the project management function. That encompasses the three Ps of project management (project, program and portfolio management), which can play the crucial but often missing organizational role that will embed benefits realization in strategy execution and--by extension--in program and project delivery.

The fast food and casual dining industry is characterized by intense competition and demanding customers. Companies are making huge …

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