Project Management

Project Management Central

Please login or join to subscribe to this thread

Topics: Benefits Realization
Is your company good at benefits realization management?
It is quite certain, that project management is not about triple constrain only.
It is not enough to deliver on time and within budget.
The real question is: Does your project add value to your company?
And here comes benefits realization management.
Can you say your company is good at it?
If so, how did you accomplish that?
Are your projects allways alligned with strategy?
Do you have formal procedures to measure benefits?
Who is responsible for benefits realization?
Please, share your experience.
Sort By:
Raising effectiveness at benefits management drives a maturation in portfolio management capabilities which some organizations are unwilling to undertake. If no projects in flight are ever killed, it's likely a sign that true benefits management is a ways off in the distance...
...
1 reply by Dmitry Ilenkov
Aug 08, 2018 6:00 PM
Dmitry Ilenkov
...
Well said! And I am afraid, too many projects, having nothing in commom with company goals, are not killed before flight..
Hi Dmitry,

For sure, in my organization, there is a PMO in charged of alignment of projects with strategy. As an international team, we have specific PMs on every location that is responsible for specific project goals.

In our case the project that we are working on is already on production, it means that the PM director interact directly with customers that are already using our project product and every iteration directly answer to their needs. The metric in our case is simple, it depends on the number of wires done per day in our branches, but also with external agencies.

How do we accomplish that? That's easy, we include all team members on every meeting even strategic ones. Working together and communicating the customer needs in the right way as well organization goal, allows us to reach adding value to our customer, get benefits and cover customer needs.
I know this will not be the answer for your question but just to post additional information I was part of the group that is creating a new practice standard on benefit realization management inside the PMI. I was there the first 4 month. If it does not change the intention is to publish that on late 2018
...
1 reply by Dmitry Ilenkov
Aug 08, 2018 5:59 PM
Dmitry Ilenkov
...
Great news! Thank you for sharing!
Aug 08, 2018 5:56 PM
Replying to Sergio Luis Conte
...
I know this will not be the answer for your question but just to post additional information I was part of the group that is creating a new practice standard on benefit realization management inside the PMI. I was there the first 4 month. If it does not change the intention is to publish that on late 2018
Great news! Thank you for sharing!
Aug 08, 2018 5:17 PM
Replying to Kiron Bondale
...
Raising effectiveness at benefits management drives a maturation in portfolio management capabilities which some organizations are unwilling to undertake. If no projects in flight are ever killed, it's likely a sign that true benefits management is a ways off in the distance...
Well said! And I am afraid, too many projects, having nothing in commom with company goals, are not killed before flight..
Now about your porint, I was in charge to create the benefit realization management framework in my actual work place.There are a lot to comment but key things are: 1-define the meaning of critical terms: benefit, value, cost. To do that the first thing to do is to define the term client. 2-understand that projects do not deliver benefits. What deliver a benefit is the product/service/result the project create. Project contribute to deliver benefits by creating the product/service/result as defined in the expected time/cost/quality. 3-like quality the whole organization is responsible for benefit management. But the role which is key to all related to benefit is the business analyst.
...
1 reply by Dmitry Ilenkov
Aug 09, 2018 4:47 AM
Dmitry Ilenkov
...
" 2-understand that projects do not deliver benefits. What deliver a benefit is the product/service/result the project create. Project contribute to deliver benefits by creating the product/service/result as defined in the expected time/cost/quality. "

I totally agree. That is a very important point.
Aug 08, 2018 6:07 PM
Replying to Sergio Luis Conte
...
Now about your porint, I was in charge to create the benefit realization management framework in my actual work place.There are a lot to comment but key things are: 1-define the meaning of critical terms: benefit, value, cost. To do that the first thing to do is to define the term client. 2-understand that projects do not deliver benefits. What deliver a benefit is the product/service/result the project create. Project contribute to deliver benefits by creating the product/service/result as defined in the expected time/cost/quality. 3-like quality the whole organization is responsible for benefit management. But the role which is key to all related to benefit is the business analyst.
" 2-understand that projects do not deliver benefits. What deliver a benefit is the product/service/result the project create. Project contribute to deliver benefits by creating the product/service/result as defined in the expected time/cost/quality. "

I totally agree. That is a very important point.

Please login or join to reply

Content ID:
ADVERTISEMENTS
ADVERTISEMENT

Sponsors

Vendor Events

See all Vendor Events