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Benefits realization management
Hello All,
I am managing a Program. It has 4 projects. 1 already closed & 3 in early stages. At the start of the program I did not do the Benefits Realization Management - plan / tracking/ etc.

The question is, am I too late to do it now? What should I keep in my mind if I start it at this point.

Thanks.
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Are you able to identify the following:

- What benefit is expected? What is the financial impact of the benefit?
- When is it expected?
- How will you know if you are on or off track?
- Who is responsible for the realization?

The benefits may be realized all at once or spread out over time. ROI can take a while to be realized; can you estimate milestones for receiving partial value until full value is realized?
Sampath -

Talk about closing the barn door after the horse has left :-)

At this point, it would be hard to know what your original benefits expected were, but it is still worth doing a current forecast of benefits, defining how those benefits will be measured and who is responsible for doing so, and implementing a regular benefits measurement and reporting cycle.

Kiron
Check out his site for some more info. It may not too late IMHO to pursue depending how far back the others were closed and what the LOE is. Has anyone in senior management requested the plan?

https://www.gcpedia.gc.ca/wiki/ASAS_-_Proj...icy_Instruments
Dear Sampath
Interesting your question
Thanks for sharing

I agree with the comments of Aaron and Kiron

It occurs to me to ask: what is the purpose of your program?
Luis - the purpose is to release a product.
Steve - that link doesn't seem to work. But, would prefer to see that link. Senior management prefers to see some thing / may be ROI etc.
Kiron - Yes, to your point, though delayed, I prefer to get it done, rather than somebody pointing it as not done.
Aaron - Yes, I have the answers for all the questions. Since I was measuring in terms of ROI (soft / hard), didn't lay out a huge plan in terms of Benefits Realization Management
...
1 reply by Steve Ratkaj
Jan 14, 2020 3:30 PM
Steve Ratkaj
...
My apologies. I guess the site is only accessible by government employees.
Adding another question.
If I proceed, do I need to show in the benefits realization about the closed project and the benefits it realized ?
...
1 reply by Aaron Porter
Jan 14, 2020 1:52 PM
Aaron Porter
...
I would show:
- benefits expected from the closed projects, on a timeline
- what has been realized so far
- contingency plans, if needed, if benefits are not being realized as projected

...assuming your audience would be interested in these things.
Jan 14, 2020 1:45 PM
Replying to Sampath Natarajan
...
Adding another question.
If I proceed, do I need to show in the benefits realization about the closed project and the benefits it realized ?
I would show:
- benefits expected from the closed projects, on a timeline
- what has been realized so far
- contingency plans, if needed, if benefits are not being realized as projected

...assuming your audience would be interested in these things.
Jan 14, 2020 12:30 PM
Replying to Sampath Natarajan
...
Luis - the purpose is to release a product.
Steve - that link doesn't seem to work. But, would prefer to see that link. Senior management prefers to see some thing / may be ROI etc.
Kiron - Yes, to your point, though delayed, I prefer to get it done, rather than somebody pointing it as not done.
Aaron - Yes, I have the answers for all the questions. Since I was measuring in terms of ROI (soft / hard), didn't lay out a huge plan in terms of Benefits Realization Management
My apologies. I guess the site is only accessible by government employees.
thank you all.
The key here is: why do you need it? Usually when inside an organization the benefit realization plan and calculation is not requested before the project exists then they are focused on financial meassures only which is not the spirit of business realization mainly in the actual world. If they accept to invest into the initiative without request the benefit (not monetary) then go for value plan instead of wasted time on calculate benefit. Just my recommendation.

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