Best Practices in BRM (Part 6): Set Benefits Owners Up For Success

Michelle is a Benefits Realization Management specialist with a proven background in private and public sector end-to-end business project management. She has 17 years of financial sector experience spanning the banking, brokerage, exchange, regulation and buy side fields.

Continued from Part 1, Part 2, Part 3, Part 4 and Part 5, this is the last of six articles in a series on best practices in benefits realization management (BRM) 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.

“No one is useless in this world who lightens the burdens of another.”
– Charles Dickens

Why
For every stage up to and including project implementation, there’s a project team to help things progress and to help resolve issues as they arise. Post-implementation, that’s no longer the case.

Paradoxically, it’s also when the project’s success—or lack thereof—is determined. Because projects have no inherent value, their only value is in what can be developed from the deliverables they produce, post-implementation. As such, it’s of ultimate importance to set the post-implementation environment up with the best possible chance of success. Unfortunately, however, Boston Consulting Group found through a 2016 survey that while 93% of companies say they have some form of BRM in place (whether formally or informally), only 17% apply it consistently.[i]

The business, information technology and …

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