Strategy frameworks for benefits realisation

15
Nov 18
Author:Ash Natesh
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Benefits realisation management (BRM) provides organisations with a way to measure how projects and programs add true value to the enterprise.

This BRM Framework works to help organizations effectively manage and realise project benefits. It provides a set of questions and good practices that project, program, and portfolio management professionals can use to help guide the identification, analysis, delivery, and sustainment of benefits that align to the organisation’s strategic goals and objectives.

The framework works to achieve :

  1. Benefits identification
  2. Benefits execution
  3. Benefits sustainability

Benefits Identification

Questions your organisation needs to address:

  1. Are the benefits aligned with the organisation’s strategic goals?
  2. Are the benefits—tangible, intangible, short-term, and/or long-term—explicitly defined in the business case?
  3. Does the business case outline how the benefits will be measured and when benefits are forecasted to be delivered?
  4. Are all project or program benefits documented in a benefits register and benefits
    realisation roadmap?
  5. Have key stakeholders signed off on the benefits realisation plan?
  6. Does governance take into account benefits management, including relevant acceptance criteria?
  7. Are project selection and/or funding decisions based on the impact to expected benefits?
  8. Have the benefits owners been consulted and confirmed?

Source: PMI.org

Benefits Execution

Questions your organisation needs to address:

  1. Have the expected benefits been clearly communicated to key stakeholders involved with delivery?
  2. Does the project or program team understand how project level outputs contribute to business benefits?
  3. Is progress regularly reviewed against the benefits realisation roadmap?
  4. Are benefits frequently modified to reflect the most current information regarding changing business conditions?
  5. Is effective change control being utilised to close gaps between expected benefits and actual benefits?
  6. Is there a formal process to discover new benefit opportunities?
  7. Is the project or program still relevant based on what benefits can be realised against unexpected events or changes to the benefits realisation plan?
  8. Are the benefit owners responsible, accountable, and evaluated for achieving benefit targets?

Source: PMI.org

Benefits Sustainability

Questions your organisation needs to address:

  1. Have the benefits—tangible, intangible, short-term, and/or long-term—been optimised?
  2. Have the benefits been transitioned to and approved by key stakeholders, including accountable operational/business owners?
  3. Have project or program outcomes and capabilities been handed over to operational/ business owners?
  4. Are realised benefits being measured and verified against business and sustainment plans?
  5. Are actual benefits being delivered within the timeframe of the benefits realisation plan?
  6. Were lessons learned captured and communicated?
  7. Have unanticipated benefits been realised and captured for the future?

Source: PMI.org

Learn how to recognise, develop and measure benefits realisation from the 2018 Global PMO of the year Award winner, TELSTRA (Peter Moutsatsos, Chief Project Officer) at the 5th PMO Leadership Forum, 26th & 27th February 2019, Sydney.

Find out more by clicking below:

 

Submitted by Ash Natesh

Ash Natesh

Ash is the Content Marketer at Criterion Conferences. Writing and sourcing content is all part of her day to day routine. She can’t stop drinking coffee, other than coffee her interests lie in Music, long walks amidst the mountains, Dance, Anime, Science Fiction and all things nerdy!

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