Key benefits are - business value realised, customer satisfaction, project team satisfaction (in terms of knowledge gained, challenges faced, sense of accomplishment) and gaining long-term relationship with customers.
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2 replies by Girija Ramakrishnan and Vincent Guerard
Jul 17, 2018 7:36 AM
Vincent Guerard
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Girija -
Do you consider business value strictly monetary?
Do you try to measure benefits, like customer satisfaction?
Jul 17, 2018 10:52 AM
Girija Ramakrishnan
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Vincent,
Business value is not only monetary. It is the actual value realized by the organisation or its customers while using the project deliverable. It is basically how the project has added value.
Of course, customer satisfaction is measured.
Saving Changes...
Tamer Zeyad SadiqAssistant Cost Manager| Turner & TownsendRiyadh, Ar Riyad, Saudi Arabia
The benefits for project is based on conduct business analysis to verify if the project is following as per business need to meet customer requirements!!!
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1 reply by Vincent Guerard
Jul 17, 2018 7:39 AM
Vincent Guerard
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Tamer -
What kind of benefits do you realize in your project?
You use Business analysis to verify benefits realization.
Saving Changes...
Drew CraigSr. Agile & Product Coach| VanguardPhiladelphia, Pa, United States
Verify that the project outcome fulfills the project objective and intent with the delivered product satisfying the business need.
Absolutely important. Otherwise, there shouldn't be a project.
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1 reply by Vincent Guerard
Jul 17, 2018 7:42 AM
Vincent Guerard
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Andrew -
Very true, why a project if no benefits. Are benefits monetary or other?
a project is an investment - if we don't want to spend some effort articulating what benefits are expected and then tracking their performance, we shouldn't expect anything different than if we threw a dart at a list of stocks to pick one and invested all of our savings in that and didn't bother to track the performance of that stock...
Kiron
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1 reply by Vincent Guerard
Jul 17, 2018 7:44 AM
Vincent Guerard
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Kiron -
Interesting way to present it. With no clear benefit identified can a project be a success?
Key benefits are - business value realised, customer satisfaction, project team satisfaction (in terms of knowledge gained, challenges faced, sense of accomplishment) and gaining long-term relationship with customers.
Girija -
Do you consider business value strictly monetary?
Do you try to measure benefits, like customer satisfaction? Saving Changes...
The benefits for project is based on conduct business analysis to verify if the project is following as per business need to meet customer requirements!!!
Tamer -
What kind of benefits do you realize in your project?
You use Business analysis to verify benefits realization. Saving Changes...
Verify that the project outcome fulfills the project objective and intent with the delivered product satisfying the business need.
Absolutely important. Otherwise, there shouldn't be a project.
Andrew -
Very true, why a project if no benefits. Are benefits monetary or other?
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1 reply by Drew Craig
Jul 17, 2018 7:54 AM
Drew Craig
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Realistically, it comes back to money as there would need to be an incentive and investment return, but can be felt in many tangible ways, such as efficiencies and opportunities.
a project is an investment - if we don't want to spend some effort articulating what benefits are expected and then tracking their performance, we shouldn't expect anything different than if we threw a dart at a list of stocks to pick one and invested all of our savings in that and didn't bother to track the performance of that stock...
Kiron
Kiron -
Interesting way to present it. With no clear benefit identified can a project be a success?
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1 reply by Kiron Bondale
Jul 17, 2018 11:48 AM
Kiron Bondale
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Depends on how you define success, Vincent, as that is always in the eye of the beholder :-)
Articulating objective benefits (financial or otherwise) just helps to reduce the subjectivity regarding those perceptions!
Kiron
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Amit SharmaProject Manager| IT MajorDelhi, Delhi, India
You see a "hammock" and a "barbell" on either sides of the tree. Which one will you go for? :-D That depends, ain't that true?! More than benefits, satisfaction is a better benchmark IMHO. Cheers Vincent!
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1 reply by Vincent Guerard
Jul 17, 2018 8:26 AM
Vincent Guerard
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Amit -
Isn't satisfaction a benefit?
Saving Changes...
Drew CraigSr. Agile & Product Coach| VanguardPhiladelphia, Pa, United States
Jul 17, 2018 7:42 AM
Replying to Vincent Guerard
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Andrew -
Very true, why a project if no benefits. Are benefits monetary or other?
Realistically, it comes back to money as there would need to be an incentive and investment return, but can be felt in many tangible ways, such as efficiencies and opportunities.
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1 reply by Vincent Guerard
Jul 17, 2018 8:29 AM
Vincent Guerard
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Andrew -
I can think of benefits that are not financial? like you say efficiency or reduce line-out time would be one.
