Deliver Value with Benefits Focus
Project managers play a critical role in helping organizations close the gap between expectations and achievement, according to a new report from Project Management Institute. Successful practices include engaging cross-functional teams and keeping business owners informed about benefits-related issues.
Many organizations are not yet mature with their benefits realization practices, which exposes them to increased risk, according to findings from the Project Management Institute’s 2016 Pulse of the Profession® In-Depth Report - Delivering Value: Focus on Benefits During Project Execution. However, the report also finds that organizations that invest in benefits realization identify a significant role for project managers, especially during project execution.
This report builds upon findings that organizations that adopt a mature approach to managing benefits waste 67% less ($112 million) for every $1 billion invested in projects and programs, compared to those that do not take a mature approach (see “Projects Need Benefits ID”).
The new report reveals that project managers in organizations with mature benefits realization practices largely focus on monitoring expected benefits and communicating key indicators to business and leadership. The percentage of respondents for each role indicates the most common activities:
- Revisiting expected
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