Benefits Realisation for Project Managers. An Introduction.

 

Here is the first sentence in Mark Langley’s foreword of the in-depth report Delivering Value - Focus on Benefits during Project Execution, which PMI published as part of it’s Pulse of the Profession Series:

A project is truly successful only if it delivers the benefits an organization envisions.
-Mark Langley, PMI President and CEO

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At first glance this sentence is awfully obvious to us project managers. But having good and successful benefits realization management and thereby turning this statement into a reality is what makes our job so hard. And rewarding.

So what exactly are benefits realisation and benefits realisation management? Is there a benefits management process and how does all of this fit into project benefits management?

How about if I let Dave L Davis (https://www.linkedin.com/in/dldavispmp) explain it all to you? He has authored one of the articles in that Pulse of the Profession report from where I took the earlier quote. The article is titled “The Benefits Management Journey” and serves as our guide.

We’ll learn what exactly benefits realization management is, review the process of implementing it on projects, meet the people involved, and we’ll even talk about tools.

And at the very end of this episode you’ll learn that even failings project have benefits

(This interview was originally published on The Project Management Podcast.)