Waterfall projects are “done” at the end, and it is easy to determine when benefits realization begins; however, on agile projects, deliverables are produced in a phased approach, and benefits realization may begin at many points along the project lifecycle. Which brings us to the question at hand: For agile projects, when can we start deducting/amortizing capital expenses?
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As a portfolio-driven approach to project delivery shifts the focus from outputs to benefits, changes become much more common and the organization needs to also shift from a control-based change management environment to a culture that empowers its project teams to make clearly communicated course corrections along the way.
The key contributor to project success will be the willingness of you and your organization to move the focus from the traditional three-legged stool to one that encompass both benefits realization and change management. This is a significant paradigm shift, but can pay huge dividends.
As project work shifts and evolves to meet the changing needs of the business, what are the implications for our teams—and how do we manage them?
This article aims to clarify and widen the status quo around value, especially at the enterprise level. It also aims to offer an explanation of value management that goes beyond the notion of value engineering and process-based tools, which seem to “force” an outcome. It introduces a new framework for creating and capturing business value that is integrated and sustainable.