SlideShare a Scribd company logo
1 of 50
Download to read offline
An Introduction to Benefits
Realization Management
Craig Letavec, PMP, PgMP, MSP, IPMA-B
Beginning at the
Beginning – A Few Basics
One View of the World
Cost
TimeQuality
Enhanced View
Business
Goals
Realized
Business
Change
Created
Capabilities
Realized
Benefits
What is a Benefit?
 Definitions vary but in general we can think of a benefit as a positive outcome of a change
 PMI, via the Standard for Program Management, defines a benefit as “an outcome of
actions, behaviors, products, or services that provide utility to the sponsoring organization
as well as to the program’s beneficiaries.”
 A benefit is generally defined as a measurable improvement resulting from an outcome
perceived as an advantage by one or more stakeholders (OGC MSP Standard—www.msp-
officialsite.com)
 Of course, there may be negative outcomes as well. We refer to these as disbenefits.
 An outcome perceived as negative by one or more stakeholders.
 Dis-benefits are actual consequences of an activity, whereas a risk has some
uncertainty about whether it will materialize
Dissecting the Definition
 Positive
 Positive according to stakeholders
 Outcome
 A result
 Change
 Something that we do that consumes something we care about (time, money,
etc.)
 Benefits are a result that cannot be made to happen directly and which have
no direct cost
Example
 Can we think of some benefits?
 Improved customer service
 Reduced cost
 Increased productivity
 Benefits may support other benefits or they may be end results themselves
 Intermediate benefits enable other benefits
 End benefits are beneficial end states that the organization desires
 For example, I reduce errors in order to reduce customer frustration which
improves customer service which, in turn, improves the company’s image
Further Definitions
 We often think of benefits in terms of types and time horizons
 Type
 Tangible benefits—A “hard” benefit that you can measure (e.g. cost savings)
 Intangible benefits—A “soft” benefit that is often more difficult to concretely
measure (e.g. employee morale increases)
 Time Horizon
 Near-term vs. mid-term vs. long-term
 Definitions may vary but the general idea is that some benefits are realized sooner
than others
Many Paths to an End Goal
Better
Selling
More
Customer
Interaction
Improved
Customer
Retention
Increased
Sales
Better
Customer
Information
Real World Example
From http://www.services.nsw.gov.au/sites/default/files/Benefits%20Realisation%20Guideline%202011.pdf
Benefits Notes
 Benefits are realized over time (with some realization perhaps not beginning
until after the efforts to create the capabilities are over)
 Benefits require embedding change in an organization; we often rely on a
business change manager and organizational change management
principles to support the capability creation/delivery function in ensuring
success
 Benefits may be tangible or intangible and, in most cases, businesses will
rely on a mix of these when defining and managing benefits
Where Do Benefits Come From?
 Benefits result from change; change often manifests itself in creation or
enhancement of capabilities
 Capabilities may be the result of projects, programs, BAU changes, or other efforts
 The capabilities themselves are embedded in the organization through
organizational change management in order to realize benefits
 Good benefits come from a process that proactively identifies benefits, plans
for their realization, and tracks achievement versus the plan
 This is the essence of benefits management
Benefits Management in Program Context
As per Figure 3.1 PMI Standard for Program Management – Third Edition (Copyright 2013 The Project Management Institute)
Real World Example
From http://www.services.nsw.gov.au/sites/default/files/Benefits%20Realisation%20Guideline%202011.pdf
Context Notes
 Benefits management is often referred to in the program management
literature (PMI, MSP, etc.) most directly though not exclusively
 Benefits management is a business discipline that, while often applied in the
program context, can exist independent of program management
 In portfolio management
 As a standalone business function
 As part of organizational change management
 As part of project management (though not often)
The Broader View
 PMI proposes multiple functions of a successful PMO
 Structural (e.g. alignment, R&R)
 Advanced Tactical (e.g. Standardization and Metrics)
 Executive Support (e.g. Communication & Championing)
 Portfolio (e.g. alignment, metrics, etc.)
 Organizational Agility (e.g. integrating change management, standardizing PPPM
practices)
 Benefits Realization (e.g. accountability and measurement)
From PMI, Preparing for the PMO of the Future, 2012
Challenges in Benefits Management
 Challenges to successfully implementing benefits management often
include
 Inability to effectively describe and document desired benefits
 Unrealistic benefits attainment targets
 Poorly defined data collection and management techniques
 Inadequate organizational change management capability
 Lack of clear ownership for attainment of the benefits
 Poor linkages to related processes (especially portfolio and program management)
 And many more that could be listed here….
Roles and Responsibilities
Key Benefits Management Roles
 Senior Responsible Owner (a.k.a. Sponsor)—Ultimately accountable for overall benefits
realization. The SRO is usually a key member of the group sponsoring the initiative that is
tasked with capability creation and benefits realization.
 Benefit Owners—Responsible for change management activities and ensuring the realization of
a specific benefit
 Business Change Manager—Responsible for overall management of business change and
ensuring change is embedded in the organization. This role is absolutely critical for success.
 These roles are supported by
 Program Managers—overall responsibility for capabilities, outcomes, and benefits
 Project Managers—responsible for discrete capability creation to support change
 PMO—providing operational support
Benefits Management RACI Example
From http://www.services.nsw.gov.au/sites/default/files/Benefits%20Realisation%20Guideline%202011.pdf
Keys to Success
 Roles and responsibilities are standardized in the organization
 Roles and responsibilities are clearly documented via role descriptions,
RACI, or other tools
 Roles and responsibilities are agreed (via charter, program management
agreement, etc.)
 Roles and responsibilities are embedded in the benefits realization plan
Fundamentals of the
Benefits Lifecycle
Benefits Identification
 First order of business: Identify benefits
 There is actually a lot of work here, including
 Determining appropriate benefits (qualification)
 Defining the measurement and management processes (including metrics)
 Ensuring appropriate processes for tracking and communication
 Benefits may come from many places, but a primary source of potential benefits
is a business case or similar document that provides justification for investment
 Business cases are often built on tangible and intangible benefits; ensuring that the
benefits in the business case approximate the current reality is key!
A Simple Framework for Identifying Benefits
From http://www.services.nsw.gov.au/sites/default/files/Benefits%20Realisation%20Guideline%202011.pdf
Example
From http://www.services.nsw.gov.au/sites/default/files/Benefits%20Realisation%20Guideline%202011.pdf
Things to Keep in Mind
 When identifying benefits, you need to think about:
 Can I link this benefit to some capability that will be created?
 Can I define work to achieve this benefit and integrate that work into my plans?
 Is the benefit measurable?
 Can a target for benefit attainment be set?
 Can I monitor to determine if the benefit will be obtained?
 Can this benefit be assigned to a clear owner?
 Is the benefit realistically attainable?
Benefits Identification (cont.)
 Identified benefits may be tracked in a benefits register, which often includes
information such as
 Identified benefits
 Relation of benefits to project, program, and operational work
 Benefits targets
 KPIs and measurement criteria
 Status and schedule information
 Roles and Responsibilities for benefits delivery
 Your benefits register does not need to be complex but it does need to be
complete. More importantly, regardless of what you call it, it needs to exist and
be used consistently as the key source of information for agreed benefits,
targets, attainment data, etc.
Benefits Documentation Detail
From http://www.services.nsw.gov.au/sites/default/files/Benefits%20Realisation%20Guideline%202011.pdf
Benefits Register Example
From http://www.services.nsw.gov.au/sites/default/files/Benefits%20Realisation%20Guideline%202011.pdf
Benefits Planning
 Much like the many plans of project and program management in the PMI
standards, benefits management has an associated concept of a benefits
realization plan. In theory, this seems simple enough. Document:
 The benefits
 How you’re going to obtain them (link to project and program work)
 How you’re going to manage attainment, including how to embed the benefits in
the organization
 The process to monitor benefits realization
 The communication and risk management vehicles
Benefits Planning (cont.)
 In reality, this is quite a lot of work but ideally you have an organizational
template that standardizes processes such as monitoring, reporting, risk
management, etc.
 If so, the work to be done on an individual effort basis is focused primarily
on
 The work required to manage benefits attainment
 The integration of this work into relevant plans
 Operationalizing the benefits
 Planning for benefits sustainment
Benefits Delivery
 Benefits delivery means
 Monitoring to ensure continued alignment of the efforts and the benefits to the
organization’s goals and strategies
 Executing project, program, and other work and monitoring to ensure this work
delivers expected benefits
 Risk management
 Communication management including reporting progress
 Benefits delivery seeks to ensure that what we create is well aligned to what
we need
Sample Benefits Dashboard
From http://www.services.nsw.gov.au/sites/default/files/Benefits%20Realisation%20Guideline%202011.pdf
Sample Benefits Report
From http://www.services.nsw.gov.au/sites/default/files/Benefits%20Realisation%20Guideline%202011.pdf
Benefits Transition
 Responsibility for benefits will not stay with the project/program teams
forever; benefits must be embedded in the business environment and
transitioned to the operational organization
 Benefits transition seeks to
 Ensure that delivered benefits are ready for transition to the operational
organization
 Transition delivered benefits to those who will be responsible for ensuring
sustainment ongoing
 Including training, readiness assessment, and associated practices
 Validation that transition was successful
Benefits Sustainment
 Benefits sustainment ensures that transitioned benefits are positioned for
long-term sustainment
 This is often an operational responsibility but in some large programs a
significant amount of sustainment activity may remain with the program for
a period of time
 Regardless of where it resides, the function of benefits sustainment ensures
that we don’t backtrack
Beginning the Benefits
Journey
This is All Very Interesting but Where Do I Begin?
 Organizations seeking to begin proactive benefits realization management
may benefit from a simple, five step process
1. Gain Knowledge
2. Lay the Foundation
3. Build the Process
4. Create a Pilot
5. Plan for the Future
#1: Gain Knowledge
 Clearly, this presentation is not going to be enough
 Much of the available literature in benefits management is closely tied to
program management. Resources you might consider include:
 OGC Managing Successful Programmes
 Benefits Realisation Management by Gerald Bradley
 Internet Resources (most good examples are out of Europe; government examples are
well documented and can be reapplied to many industries)
 Other training you may be able to find
 Benefits management is not necessarily hard to understand but resources such
of those above will help with practical examples, templates, etc.
#1: Gain Knowledge (cont)
 One area of specific note where many organizations can benefits is in the
area of business change management (a.k.a. organizational change
management)
 People responsible for business change can benefit from understanding
standard models, tools, and practices for successful business change. Since
benefits realization requires embedding change in the organization, this
knowledge is especially helpful.
 Training is appropriate for people who will be benefits owners and business
change managers as well as for key program management and PMO staff
#2: Lay the Foundation
 Before beginning to implement benefits management as a business
function, ensure that you have a firm foundation for success. Things you
should check may include:
 Do we have basic project and program management capabilities in place and
working effectively?
 Do we do a good job of creating business cases?
 Do we do a good job of tracking business cases?
 Do we have key stakeholders and sponsors who are supportive of this effort?
 Are we good at spotting problems early?
 Are we good at communicating success and learning from failure?
#2: Lay the Foundation (cont)
 If you have a reasonably firm foundation, your next step is to charter your
benefits management effort. The charter does no need to be a large
document but it does need to
 Establish organizational commitment
 Define near-term, measurable, achievable, business-aligned objectives
 Paint a “rough” picture for the future
 Not be written such that you are positioned to fail from the start
 Practical suggestion: Charter a small scope in a business area where
projects and programs are generally successful already
#2: Lay the Foundation (cont)
 What are you chartering? The activities required to:
 Engage resources to support the effort
 Establish benefits realization processes, tools, and practices
 Conduct a pilot of the benefits realization process on a reasonable scope
 The work required to plan for the extension of benefits realization into the
organization based on pilot success
#3: Build the Process
 Basic models for benefits realization management exist so there is no need
to recreate the wheel here. However, you should:
 Ensure the appropriate integration of whatever you build into your existing
organizational process assets
 Create a process that is actually useful and practical to implement without
overburdening the people who need to do the work
 Spend a lot of time on clearly articulating and documenting roles and
responsibilities as well as how you will manage accountability
 Spend a lot of time educating and training, especially for roles that may exist
outside of your sphere of influence (Senior Responsible Owners, Business Change
Managers, etc.)
#3: Build the Process (cont)
 You can try to build an entire process from the start, but many organizations
find it easier to focus on benefits identification and the benefits realization
plan first
 This seems sensible since there is a lot of work here and for many
organizations simply being able to articulate the benefits they want in a
traceable and reportable way is a big win
 Then, focus on the business change aspects, building capability in business
change management as associated practices
 Later, you can work on benefits transition and sustainment activities
#4: Create a Pilot
 A good pilot candidate for testing out your approach
 Is not the most important project/program/initiative in the company
 Is not the least important project/program/initiative in the company
 Is not the most risky project/program/initiative in the company
 Is not the least risky project/program/initiative in the company
 Has a reasonable change of success
 Has a sponsor who is committed to the effort as well as to the benefits
management approach
 Is reasonably well understood by everyone who is involved in the process
#4: Create a Pilot (cont)
 The goals of this pilot are to
 Test out your processes and tools (especially as related to identifying benefits,
mapping benefits to actual work, and planning for realization)
 Educate additional stakeholders
 Validate if reporting mechanisms are appropriate
 Learn lessons that will be helpful as you move forward
 The pilot is over when
 You are comfortable that the process works and is not burdensome
 You have addressed all major risks and issues you’ve uncovered
 Stakeholders are not complaining excessively
#5: Plan for the Future
 Assuming a successful pilot, you are ready to:
 Develop a rollout roadmap
 Charter the additional work required to bring the process to a broader
organizational scope
 Publish pilot success story and begin to more broadly communicate about your
efforts
 Expand the process capability building efforts as needed
And How Do I Know I’m Done?
@CraigLetavec
Craig Letavec

More Related Content

What's hot

Program governance Structure
Program governance StructureProgram governance Structure
Program governance StructureSaurabh Sardesai
 
Project, Program & Portfolio Management
Project, Program & Portfolio ManagementProject, Program & Portfolio Management
Project, Program & Portfolio ManagementAnand Subramaniam
 
Setting up a Project Management Office (PMO)
Setting up a Project Management Office (PMO)Setting up a Project Management Office (PMO)
Setting up a Project Management Office (PMO)Hussain Bandukwala
 
PMO View Interactive Dashboard
PMO View Interactive DashboardPMO View Interactive Dashboard
PMO View Interactive DashboardMatt Angerer
 
Program management - Fundamentals
Program management   - FundamentalsProgram management   - Fundamentals
Program management - FundamentalsJulen Mohanty
 
Program management scope management
Program management   scope managementProgram management   scope management
Program management scope managementJulen Mohanty
 
Practical Project Management - full course
Practical Project Management - full coursePractical Project Management - full course
Practical Project Management - full courseMarten Schoonman
 
Project Benefits Realisation General Presentation 7 Actions G Byatt
Project Benefits Realisation   General Presentation   7 Actions   G ByattProject Benefits Realisation   General Presentation   7 Actions   G Byatt
Project Benefits Realisation General Presentation 7 Actions G ByattGareth Byatt
 
A project portfolio management capability framework
A project portfolio management capability frameworkA project portfolio management capability framework
A project portfolio management capability frameworkRobert Greca, PMP, SA
 
Project Management Professional (PMP)
Project Management Professional (PMP) Project Management Professional (PMP)
Project Management Professional (PMP) Ahmad Maharma, PMP,RMP
 

What's hot (20)

Program governance Structure
Program governance StructureProgram governance Structure
Program governance Structure
 
Project, Program & Portfolio Management
Project, Program & Portfolio ManagementProject, Program & Portfolio Management
Project, Program & Portfolio Management
 
Project governance
Project governanceProject governance
Project governance
 
Program Management
Program ManagementProgram Management
Program Management
 
PMP PMBOK 6th
PMP PMBOK 6thPMP PMBOK 6th
PMP PMBOK 6th
 
Pmbok6 to 7 transformation
Pmbok6 to 7 transformationPmbok6 to 7 transformation
Pmbok6 to 7 transformation
 
Setting up a Project Management Office (PMO)
Setting up a Project Management Office (PMO)Setting up a Project Management Office (PMO)
Setting up a Project Management Office (PMO)
 
Program Management Deployment Concept Consulting
Program Management Deployment Concept ConsultingProgram Management Deployment Concept Consulting
Program Management Deployment Concept Consulting
 
PMO View Interactive Dashboard
PMO View Interactive DashboardPMO View Interactive Dashboard
PMO View Interactive Dashboard
 
Program management - Fundamentals
Program management   - FundamentalsProgram management   - Fundamentals
Program management - Fundamentals
 
Program management scope management
Program management   scope managementProgram management   scope management
Program management scope management
 
Practical Project Management - full course
Practical Project Management - full coursePractical Project Management - full course
Practical Project Management - full course
 
Writing a business case
Writing a business caseWriting a business case
Writing a business case
 
PMP Exam Prep 2021 free sample module 1
PMP Exam Prep 2021  free sample module 1PMP Exam Prep 2021  free sample module 1
PMP Exam Prep 2021 free sample module 1
 
Project Benefits Realisation General Presentation 7 Actions G Byatt
Project Benefits Realisation   General Presentation   7 Actions   G ByattProject Benefits Realisation   General Presentation   7 Actions   G Byatt
Project Benefits Realisation General Presentation 7 Actions G Byatt
 
PMBOK 7th Edition What is Changing?
PMBOK 7th Edition What is Changing?PMBOK 7th Edition What is Changing?
PMBOK 7th Edition What is Changing?
 
A project portfolio management capability framework
A project portfolio management capability frameworkA project portfolio management capability framework
A project portfolio management capability framework
 
Project Management Professional (PMP)
Project Management Professional (PMP) Project Management Professional (PMP)
Project Management Professional (PMP)
 
Guide to Project Portfolio Management
Guide to Project Portfolio ManagementGuide to Project Portfolio Management
Guide to Project Portfolio Management
 
Pmp study-notes
Pmp study-notesPmp study-notes
Pmp study-notes
 

Viewers also liked

10 factor business case checklist
10   factor business case checklist10   factor business case checklist
10 factor business case checklistJeff Jackson
 
Benefits management and transformational change, 10 January 2017 - Southampton
Benefits management and transformational change, 10 January 2017 - SouthamptonBenefits management and transformational change, 10 January 2017 - Southampton
Benefits management and transformational change, 10 January 2017 - SouthamptonAssociation for Project Management
 
White Paper: Application Modernization
White Paper: Application Modernization  White Paper: Application Modernization
White Paper: Application Modernization EMC
 
Other requirements, requirement specification and map
Other requirements, requirement specification and mapOther requirements, requirement specification and map
Other requirements, requirement specification and mapcsk selva
 
Business Requirements Gathering - Current & Future State
Business Requirements Gathering - Current & Future StateBusiness Requirements Gathering - Current & Future State
Business Requirements Gathering - Current & Future StateJason Bargent
 
Business requirements gathering and analysis
Business requirements gathering and analysisBusiness requirements gathering and analysis
Business requirements gathering and analysisMena M. Eissa
 
Business Analysis Techniques
Business Analysis TechniquesBusiness Analysis Techniques
Business Analysis TechniquesIIBA UK Chapter
 
Business Cases And Benefits Management
Business Cases And Benefits ManagementBusiness Cases And Benefits Management
Business Cases And Benefits ManagementAlan McSweeney
 
Benefits Identification, Assessment, Validation and Realisation for Informati...
Benefits Identification, Assessment, Validation and Realisation for Informati...Benefits Identification, Assessment, Validation and Realisation for Informati...
Benefits Identification, Assessment, Validation and Realisation for Informati...Alan McSweeney
 

Viewers also liked (11)

10 factor business case checklist
10   factor business case checklist10   factor business case checklist
10 factor business case checklist
 
Benefits Realization
Benefits RealizationBenefits Realization
Benefits Realization
 
Benefits management and transformational change, 10 January 2017 - Southampton
Benefits management and transformational change, 10 January 2017 - SouthamptonBenefits management and transformational change, 10 January 2017 - Southampton
Benefits management and transformational change, 10 January 2017 - Southampton
 
White Paper: Application Modernization
White Paper: Application Modernization  White Paper: Application Modernization
White Paper: Application Modernization
 
Business analysis compass mapping to the iiba babok v2
Business analysis compass mapping to the iiba babok v2Business analysis compass mapping to the iiba babok v2
Business analysis compass mapping to the iiba babok v2
 
Other requirements, requirement specification and map
Other requirements, requirement specification and mapOther requirements, requirement specification and map
Other requirements, requirement specification and map
 
Business Requirements Gathering - Current & Future State
Business Requirements Gathering - Current & Future StateBusiness Requirements Gathering - Current & Future State
Business Requirements Gathering - Current & Future State
 
Business requirements gathering and analysis
Business requirements gathering and analysisBusiness requirements gathering and analysis
Business requirements gathering and analysis
 
Business Analysis Techniques
Business Analysis TechniquesBusiness Analysis Techniques
Business Analysis Techniques
 
Business Cases And Benefits Management
Business Cases And Benefits ManagementBusiness Cases And Benefits Management
Business Cases And Benefits Management
 
Benefits Identification, Assessment, Validation and Realisation for Informati...
Benefits Identification, Assessment, Validation and Realisation for Informati...Benefits Identification, Assessment, Validation and Realisation for Informati...
Benefits Identification, Assessment, Validation and Realisation for Informati...
 

Similar to An Introduction to Benefits Realization Management

Project Benefit Validation - Lean Six Sigma
Project Benefit  Validation - Lean Six SigmaProject Benefit  Validation - Lean Six Sigma
Project Benefit Validation - Lean Six SigmaWillowTree Advisors
 
Benefits management and its applicability
Benefits management and its applicabilityBenefits management and its applicability
Benefits management and its applicabilityDr Fereidoun Dejahang
 
Steps to blueprint successful erp projects immortal
Steps to blueprint successful erp projects immortalSteps to blueprint successful erp projects immortal
Steps to blueprint successful erp projects immortalImmortal Technologies
 
M43 how to build a winning ig, ecm or rim strategy - keith atteck
M43   how to build a winning ig, ecm or rim strategy - keith atteckM43   how to build a winning ig, ecm or rim strategy - keith atteck
M43 how to build a winning ig, ecm or rim strategy - keith atteckKeith Atteck C.Tech. ERMm
 
Srinivasadesikanraghavan 131008015759-phpapp01
Srinivasadesikanraghavan 131008015759-phpapp01Srinivasadesikanraghavan 131008015759-phpapp01
Srinivasadesikanraghavan 131008015759-phpapp01PMI_IREP_TP
 
Srinivasa desikanraghavan
Srinivasa desikanraghavanSrinivasa desikanraghavan
Srinivasa desikanraghavanPMI2011
 
Optimizing Organizational Performance by Managing Project Benefits
Optimizing Organizational Performance by Managing Project BenefitsOptimizing Organizational Performance by Managing Project Benefits
Optimizing Organizational Performance by Managing Project BenefitsUMT
 
Benefits-led decision making drives value maximisation white paper
Benefits-led decision making drives value maximisation white paperBenefits-led decision making drives value maximisation white paper
Benefits-led decision making drives value maximisation white paperAssociation for Project Management
 
Integrated Broad Banding
Integrated Broad BandingIntegrated Broad Banding
Integrated Broad BandingRoy Mark
 
Synchronized Implementation
Synchronized ImplementationSynchronized Implementation
Synchronized ImplementationTom Mathew
 
Training Operational Planning
Training Operational PlanningTraining Operational Planning
Training Operational PlanningRa Gri
 
PMO Standup - v3
PMO Standup - v3PMO Standup - v3
PMO Standup - v3Bo Bohanan
 
B P G010 Mooney 091907
B P G010  Mooney 091907B P G010  Mooney 091907
B P G010 Mooney 091907Dreamforce07
 
B P G010 Mooney 091907
B P G010  Mooney 091907B P G010  Mooney 091907
B P G010 Mooney 091907Dreamforce07
 

Similar to An Introduction to Benefits Realization Management (20)

Benefits and knowledge management
Benefits and knowledge  managementBenefits and knowledge  management
Benefits and knowledge management
 
Project Benefit Validation - Lean Six Sigma
Project Benefit  Validation - Lean Six SigmaProject Benefit  Validation - Lean Six Sigma
Project Benefit Validation - Lean Six Sigma
 
Variable pay
Variable payVariable pay
Variable pay
 
Benefits Realization Management إدارة تحقيق المنافع
Benefits Realization Management  إدارة تحقيق المنافعBenefits Realization Management  إدارة تحقيق المنافع
Benefits Realization Management إدارة تحقيق المنافع
 
Benefits management: benefits for you
Benefits management: benefits for youBenefits management: benefits for you
Benefits management: benefits for you
 
Benefits management and its applicability
Benefits management and its applicabilityBenefits management and its applicability
Benefits management and its applicability
 
Steps to blueprint successful erp projects immortal
Steps to blueprint successful erp projects immortalSteps to blueprint successful erp projects immortal
Steps to blueprint successful erp projects immortal
 
Getting The Benefits
Getting The BenefitsGetting The Benefits
Getting The Benefits
 
M43 how to build a winning ig, ecm or rim strategy - keith atteck
M43   how to build a winning ig, ecm or rim strategy - keith atteckM43   how to build a winning ig, ecm or rim strategy - keith atteck
M43 how to build a winning ig, ecm or rim strategy - keith atteck
 
Srinivasadesikanraghavan 131008015759-phpapp01
Srinivasadesikanraghavan 131008015759-phpapp01Srinivasadesikanraghavan 131008015759-phpapp01
Srinivasadesikanraghavan 131008015759-phpapp01
 
Srinivasa desikanraghavan
Srinivasa desikanraghavanSrinivasa desikanraghavan
Srinivasa desikanraghavan
 
Optimizing Organizational Performance by Managing Project Benefits
Optimizing Organizational Performance by Managing Project BenefitsOptimizing Organizational Performance by Managing Project Benefits
Optimizing Organizational Performance by Managing Project Benefits
 
Benefits-led decision making drives value maximisation white paper
Benefits-led decision making drives value maximisation white paperBenefits-led decision making drives value maximisation white paper
Benefits-led decision making drives value maximisation white paper
 
Integrated Broad Banding
Integrated Broad BandingIntegrated Broad Banding
Integrated Broad Banding
 
Synchronized Implementation
Synchronized ImplementationSynchronized Implementation
Synchronized Implementation
 
Training Operational Planning
Training Operational PlanningTraining Operational Planning
Training Operational Planning
 
PMO Standup - v3
PMO Standup - v3PMO Standup - v3
PMO Standup - v3
 
B P G010 Mooney 091907
B P G010  Mooney 091907B P G010  Mooney 091907
B P G010 Mooney 091907
 
B P G010 Mooney 091907
B P G010  Mooney 091907B P G010  Mooney 091907
B P G010 Mooney 091907
 
Foundation of planning
Foundation of planningFoundation of planning
Foundation of planning
 

Recently uploaded

Cracking the ‘Business Process Outsourcing’ Code Main.pptx
Cracking the ‘Business Process Outsourcing’ Code Main.pptxCracking the ‘Business Process Outsourcing’ Code Main.pptx
Cracking the ‘Business Process Outsourcing’ Code Main.pptxWorkforce Group
 
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...AustraliaChapterIIBA
 
NewBase 25 March 2024 Energy News issue - 1710 by Khaled Al Awadi_compress...
NewBase  25 March  2024  Energy News issue - 1710 by Khaled Al Awadi_compress...NewBase  25 March  2024  Energy News issue - 1710 by Khaled Al Awadi_compress...
NewBase 25 March 2024 Energy News issue - 1710 by Khaled Al Awadi_compress...Khaled Al Awadi
 
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for Business
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for BusinessQ2 2024 APCO Geopolitical Radar - The Global Operating Environment for Business
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for BusinessAPCO
 
MoneyBridge Pitch Deck - Investor Presentation
MoneyBridge Pitch Deck - Investor PresentationMoneyBridge Pitch Deck - Investor Presentation
MoneyBridge Pitch Deck - Investor Presentationbaron83
 
AMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdf
AMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdfAMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdf
AMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdfJohnCarloValencia4
 
MC Heights construction company in Jhang
MC Heights construction company in JhangMC Heights construction company in Jhang
MC Heights construction company in Jhangmcgroupjeya
 
Intellectual Property Licensing Examples
Intellectual Property Licensing ExamplesIntellectual Property Licensing Examples
Intellectual Property Licensing Examplesamberjiles31
 
Plano de marketing- inglês em formato ppt
Plano de marketing- inglês  em formato pptPlano de marketing- inglês  em formato ppt
Plano de marketing- inglês em formato pptElizangelaSoaresdaCo
 
PDT 89 - $1.4M - Seed - Plantee Innovations.pdf
PDT 89 - $1.4M - Seed - Plantee Innovations.pdfPDT 89 - $1.4M - Seed - Plantee Innovations.pdf
PDT 89 - $1.4M - Seed - Plantee Innovations.pdfHajeJanKamps
 
7movierulz.uk
7movierulz.uk7movierulz.uk
7movierulz.ukaroemirsr
 
Introduction to The overview of GAAP LO 1-5.pptx
Introduction to The overview of GAAP LO 1-5.pptxIntroduction to The overview of GAAP LO 1-5.pptx
Introduction to The overview of GAAP LO 1-5.pptxJemalSeid25
 
Michael Vidyakin: Introduction to PMO (UA)
Michael Vidyakin: Introduction to PMO (UA)Michael Vidyakin: Introduction to PMO (UA)
Michael Vidyakin: Introduction to PMO (UA)Lviv Startup Club
 
TalentView Webinar: Empowering the Modern Workforce_ Redefininig Success from...
TalentView Webinar: Empowering the Modern Workforce_ Redefininig Success from...TalentView Webinar: Empowering the Modern Workforce_ Redefininig Success from...
TalentView Webinar: Empowering the Modern Workforce_ Redefininig Success from...TalentView
 
NASA CoCEI Scaling Strategy - November 2023
NASA CoCEI Scaling Strategy - November 2023NASA CoCEI Scaling Strategy - November 2023
NASA CoCEI Scaling Strategy - November 2023Steve Rader
 
Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access
 
BCE24 | Virtual Brand Ambassadors: Making Brands Personal - John Meulemans
BCE24 | Virtual Brand Ambassadors: Making Brands Personal - John MeulemansBCE24 | Virtual Brand Ambassadors: Making Brands Personal - John Meulemans
BCE24 | Virtual Brand Ambassadors: Making Brands Personal - John MeulemansBBPMedia1
 
Building Your Personal Brand on LinkedIn - Expert Planet- 2024
 Building Your Personal Brand on LinkedIn - Expert Planet-  2024 Building Your Personal Brand on LinkedIn - Expert Planet-  2024
Building Your Personal Brand on LinkedIn - Expert Planet- 2024Stephan Koning
 
Talent Management research intelligence_13 paradigm shifts_20 March 2024.pdf
Talent Management research intelligence_13 paradigm shifts_20 March 2024.pdfTalent Management research intelligence_13 paradigm shifts_20 March 2024.pdf
Talent Management research intelligence_13 paradigm shifts_20 March 2024.pdfCharles Cotter, PhD
 

Recently uploaded (20)

Cracking the ‘Business Process Outsourcing’ Code Main.pptx
Cracking the ‘Business Process Outsourcing’ Code Main.pptxCracking the ‘Business Process Outsourcing’ Code Main.pptx
Cracking the ‘Business Process Outsourcing’ Code Main.pptx
 
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...
 
NewBase 25 March 2024 Energy News issue - 1710 by Khaled Al Awadi_compress...
NewBase  25 March  2024  Energy News issue - 1710 by Khaled Al Awadi_compress...NewBase  25 March  2024  Energy News issue - 1710 by Khaled Al Awadi_compress...
NewBase 25 March 2024 Energy News issue - 1710 by Khaled Al Awadi_compress...
 
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for Business
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for BusinessQ2 2024 APCO Geopolitical Radar - The Global Operating Environment for Business
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for Business
 
MoneyBridge Pitch Deck - Investor Presentation
MoneyBridge Pitch Deck - Investor PresentationMoneyBridge Pitch Deck - Investor Presentation
MoneyBridge Pitch Deck - Investor Presentation
 
AMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdf
AMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdfAMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdf
AMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdf
 
MC Heights construction company in Jhang
MC Heights construction company in JhangMC Heights construction company in Jhang
MC Heights construction company in Jhang
 
Intellectual Property Licensing Examples
Intellectual Property Licensing ExamplesIntellectual Property Licensing Examples
Intellectual Property Licensing Examples
 
Plano de marketing- inglês em formato ppt
Plano de marketing- inglês  em formato pptPlano de marketing- inglês  em formato ppt
Plano de marketing- inglês em formato ppt
 
PDT 89 - $1.4M - Seed - Plantee Innovations.pdf
PDT 89 - $1.4M - Seed - Plantee Innovations.pdfPDT 89 - $1.4M - Seed - Plantee Innovations.pdf
PDT 89 - $1.4M - Seed - Plantee Innovations.pdf
 
7movierulz.uk
7movierulz.uk7movierulz.uk
7movierulz.uk
 
Introduction to The overview of GAAP LO 1-5.pptx
Introduction to The overview of GAAP LO 1-5.pptxIntroduction to The overview of GAAP LO 1-5.pptx
Introduction to The overview of GAAP LO 1-5.pptx
 
Michael Vidyakin: Introduction to PMO (UA)
Michael Vidyakin: Introduction to PMO (UA)Michael Vidyakin: Introduction to PMO (UA)
Michael Vidyakin: Introduction to PMO (UA)
 
TalentView Webinar: Empowering the Modern Workforce_ Redefininig Success from...
TalentView Webinar: Empowering the Modern Workforce_ Redefininig Success from...TalentView Webinar: Empowering the Modern Workforce_ Redefininig Success from...
TalentView Webinar: Empowering the Modern Workforce_ Redefininig Success from...
 
NASA CoCEI Scaling Strategy - November 2023
NASA CoCEI Scaling Strategy - November 2023NASA CoCEI Scaling Strategy - November 2023
NASA CoCEI Scaling Strategy - November 2023
 
Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024
 
BCE24 | Virtual Brand Ambassadors: Making Brands Personal - John Meulemans
BCE24 | Virtual Brand Ambassadors: Making Brands Personal - John MeulemansBCE24 | Virtual Brand Ambassadors: Making Brands Personal - John Meulemans
BCE24 | Virtual Brand Ambassadors: Making Brands Personal - John Meulemans
 
Building Your Personal Brand on LinkedIn - Expert Planet- 2024
 Building Your Personal Brand on LinkedIn - Expert Planet-  2024 Building Your Personal Brand on LinkedIn - Expert Planet-  2024
Building Your Personal Brand on LinkedIn - Expert Planet- 2024
 
Talent Management research intelligence_13 paradigm shifts_20 March 2024.pdf
Talent Management research intelligence_13 paradigm shifts_20 March 2024.pdfTalent Management research intelligence_13 paradigm shifts_20 March 2024.pdf
Talent Management research intelligence_13 paradigm shifts_20 March 2024.pdf
 
Investment Opportunity for Thailand's Automotive & EV Industries
Investment Opportunity for Thailand's Automotive & EV IndustriesInvestment Opportunity for Thailand's Automotive & EV Industries
Investment Opportunity for Thailand's Automotive & EV Industries
 

An Introduction to Benefits Realization Management

  • 1. An Introduction to Benefits Realization Management Craig Letavec, PMP, PgMP, MSP, IPMA-B
  • 2. Beginning at the Beginning – A Few Basics
  • 3. One View of the World Cost TimeQuality
  • 5. What is a Benefit?  Definitions vary but in general we can think of a benefit as a positive outcome of a change  PMI, via the Standard for Program Management, defines a benefit as “an outcome of actions, behaviors, products, or services that provide utility to the sponsoring organization as well as to the program’s beneficiaries.”  A benefit is generally defined as a measurable improvement resulting from an outcome perceived as an advantage by one or more stakeholders (OGC MSP Standard—www.msp- officialsite.com)  Of course, there may be negative outcomes as well. We refer to these as disbenefits.  An outcome perceived as negative by one or more stakeholders.  Dis-benefits are actual consequences of an activity, whereas a risk has some uncertainty about whether it will materialize
  • 6. Dissecting the Definition  Positive  Positive according to stakeholders  Outcome  A result  Change  Something that we do that consumes something we care about (time, money, etc.)  Benefits are a result that cannot be made to happen directly and which have no direct cost
  • 7. Example  Can we think of some benefits?  Improved customer service  Reduced cost  Increased productivity  Benefits may support other benefits or they may be end results themselves  Intermediate benefits enable other benefits  End benefits are beneficial end states that the organization desires  For example, I reduce errors in order to reduce customer frustration which improves customer service which, in turn, improves the company’s image
  • 8. Further Definitions  We often think of benefits in terms of types and time horizons  Type  Tangible benefits—A “hard” benefit that you can measure (e.g. cost savings)  Intangible benefits—A “soft” benefit that is often more difficult to concretely measure (e.g. employee morale increases)  Time Horizon  Near-term vs. mid-term vs. long-term  Definitions may vary but the general idea is that some benefits are realized sooner than others
  • 9. Many Paths to an End Goal Better Selling More Customer Interaction Improved Customer Retention Increased Sales Better Customer Information
  • 10. Real World Example From http://www.services.nsw.gov.au/sites/default/files/Benefits%20Realisation%20Guideline%202011.pdf
  • 11. Benefits Notes  Benefits are realized over time (with some realization perhaps not beginning until after the efforts to create the capabilities are over)  Benefits require embedding change in an organization; we often rely on a business change manager and organizational change management principles to support the capability creation/delivery function in ensuring success  Benefits may be tangible or intangible and, in most cases, businesses will rely on a mix of these when defining and managing benefits
  • 12. Where Do Benefits Come From?  Benefits result from change; change often manifests itself in creation or enhancement of capabilities  Capabilities may be the result of projects, programs, BAU changes, or other efforts  The capabilities themselves are embedded in the organization through organizational change management in order to realize benefits  Good benefits come from a process that proactively identifies benefits, plans for their realization, and tracks achievement versus the plan  This is the essence of benefits management
  • 13. Benefits Management in Program Context As per Figure 3.1 PMI Standard for Program Management – Third Edition (Copyright 2013 The Project Management Institute)
  • 14. Real World Example From http://www.services.nsw.gov.au/sites/default/files/Benefits%20Realisation%20Guideline%202011.pdf
  • 15. Context Notes  Benefits management is often referred to in the program management literature (PMI, MSP, etc.) most directly though not exclusively  Benefits management is a business discipline that, while often applied in the program context, can exist independent of program management  In portfolio management  As a standalone business function  As part of organizational change management  As part of project management (though not often)
  • 16. The Broader View  PMI proposes multiple functions of a successful PMO  Structural (e.g. alignment, R&R)  Advanced Tactical (e.g. Standardization and Metrics)  Executive Support (e.g. Communication & Championing)  Portfolio (e.g. alignment, metrics, etc.)  Organizational Agility (e.g. integrating change management, standardizing PPPM practices)  Benefits Realization (e.g. accountability and measurement) From PMI, Preparing for the PMO of the Future, 2012
  • 17. Challenges in Benefits Management  Challenges to successfully implementing benefits management often include  Inability to effectively describe and document desired benefits  Unrealistic benefits attainment targets  Poorly defined data collection and management techniques  Inadequate organizational change management capability  Lack of clear ownership for attainment of the benefits  Poor linkages to related processes (especially portfolio and program management)  And many more that could be listed here….
  • 19. Key Benefits Management Roles  Senior Responsible Owner (a.k.a. Sponsor)—Ultimately accountable for overall benefits realization. The SRO is usually a key member of the group sponsoring the initiative that is tasked with capability creation and benefits realization.  Benefit Owners—Responsible for change management activities and ensuring the realization of a specific benefit  Business Change Manager—Responsible for overall management of business change and ensuring change is embedded in the organization. This role is absolutely critical for success.  These roles are supported by  Program Managers—overall responsibility for capabilities, outcomes, and benefits  Project Managers—responsible for discrete capability creation to support change  PMO—providing operational support
  • 20. Benefits Management RACI Example From http://www.services.nsw.gov.au/sites/default/files/Benefits%20Realisation%20Guideline%202011.pdf
  • 21. Keys to Success  Roles and responsibilities are standardized in the organization  Roles and responsibilities are clearly documented via role descriptions, RACI, or other tools  Roles and responsibilities are agreed (via charter, program management agreement, etc.)  Roles and responsibilities are embedded in the benefits realization plan
  • 23. Benefits Identification  First order of business: Identify benefits  There is actually a lot of work here, including  Determining appropriate benefits (qualification)  Defining the measurement and management processes (including metrics)  Ensuring appropriate processes for tracking and communication  Benefits may come from many places, but a primary source of potential benefits is a business case or similar document that provides justification for investment  Business cases are often built on tangible and intangible benefits; ensuring that the benefits in the business case approximate the current reality is key!
  • 24. A Simple Framework for Identifying Benefits From http://www.services.nsw.gov.au/sites/default/files/Benefits%20Realisation%20Guideline%202011.pdf
  • 26. Things to Keep in Mind  When identifying benefits, you need to think about:  Can I link this benefit to some capability that will be created?  Can I define work to achieve this benefit and integrate that work into my plans?  Is the benefit measurable?  Can a target for benefit attainment be set?  Can I monitor to determine if the benefit will be obtained?  Can this benefit be assigned to a clear owner?  Is the benefit realistically attainable?
  • 27. Benefits Identification (cont.)  Identified benefits may be tracked in a benefits register, which often includes information such as  Identified benefits  Relation of benefits to project, program, and operational work  Benefits targets  KPIs and measurement criteria  Status and schedule information  Roles and Responsibilities for benefits delivery  Your benefits register does not need to be complex but it does need to be complete. More importantly, regardless of what you call it, it needs to exist and be used consistently as the key source of information for agreed benefits, targets, attainment data, etc.
  • 28. Benefits Documentation Detail From http://www.services.nsw.gov.au/sites/default/files/Benefits%20Realisation%20Guideline%202011.pdf
  • 29. Benefits Register Example From http://www.services.nsw.gov.au/sites/default/files/Benefits%20Realisation%20Guideline%202011.pdf
  • 30. Benefits Planning  Much like the many plans of project and program management in the PMI standards, benefits management has an associated concept of a benefits realization plan. In theory, this seems simple enough. Document:  The benefits  How you’re going to obtain them (link to project and program work)  How you’re going to manage attainment, including how to embed the benefits in the organization  The process to monitor benefits realization  The communication and risk management vehicles
  • 31. Benefits Planning (cont.)  In reality, this is quite a lot of work but ideally you have an organizational template that standardizes processes such as monitoring, reporting, risk management, etc.  If so, the work to be done on an individual effort basis is focused primarily on  The work required to manage benefits attainment  The integration of this work into relevant plans  Operationalizing the benefits  Planning for benefits sustainment
  • 32. Benefits Delivery  Benefits delivery means  Monitoring to ensure continued alignment of the efforts and the benefits to the organization’s goals and strategies  Executing project, program, and other work and monitoring to ensure this work delivers expected benefits  Risk management  Communication management including reporting progress  Benefits delivery seeks to ensure that what we create is well aligned to what we need
  • 33. Sample Benefits Dashboard From http://www.services.nsw.gov.au/sites/default/files/Benefits%20Realisation%20Guideline%202011.pdf
  • 34. Sample Benefits Report From http://www.services.nsw.gov.au/sites/default/files/Benefits%20Realisation%20Guideline%202011.pdf
  • 35. Benefits Transition  Responsibility for benefits will not stay with the project/program teams forever; benefits must be embedded in the business environment and transitioned to the operational organization  Benefits transition seeks to  Ensure that delivered benefits are ready for transition to the operational organization  Transition delivered benefits to those who will be responsible for ensuring sustainment ongoing  Including training, readiness assessment, and associated practices  Validation that transition was successful
  • 36. Benefits Sustainment  Benefits sustainment ensures that transitioned benefits are positioned for long-term sustainment  This is often an operational responsibility but in some large programs a significant amount of sustainment activity may remain with the program for a period of time  Regardless of where it resides, the function of benefits sustainment ensures that we don’t backtrack
  • 38. This is All Very Interesting but Where Do I Begin?  Organizations seeking to begin proactive benefits realization management may benefit from a simple, five step process 1. Gain Knowledge 2. Lay the Foundation 3. Build the Process 4. Create a Pilot 5. Plan for the Future
  • 39. #1: Gain Knowledge  Clearly, this presentation is not going to be enough  Much of the available literature in benefits management is closely tied to program management. Resources you might consider include:  OGC Managing Successful Programmes  Benefits Realisation Management by Gerald Bradley  Internet Resources (most good examples are out of Europe; government examples are well documented and can be reapplied to many industries)  Other training you may be able to find  Benefits management is not necessarily hard to understand but resources such of those above will help with practical examples, templates, etc.
  • 40. #1: Gain Knowledge (cont)  One area of specific note where many organizations can benefits is in the area of business change management (a.k.a. organizational change management)  People responsible for business change can benefit from understanding standard models, tools, and practices for successful business change. Since benefits realization requires embedding change in the organization, this knowledge is especially helpful.  Training is appropriate for people who will be benefits owners and business change managers as well as for key program management and PMO staff
  • 41. #2: Lay the Foundation  Before beginning to implement benefits management as a business function, ensure that you have a firm foundation for success. Things you should check may include:  Do we have basic project and program management capabilities in place and working effectively?  Do we do a good job of creating business cases?  Do we do a good job of tracking business cases?  Do we have key stakeholders and sponsors who are supportive of this effort?  Are we good at spotting problems early?  Are we good at communicating success and learning from failure?
  • 42. #2: Lay the Foundation (cont)  If you have a reasonably firm foundation, your next step is to charter your benefits management effort. The charter does no need to be a large document but it does need to  Establish organizational commitment  Define near-term, measurable, achievable, business-aligned objectives  Paint a “rough” picture for the future  Not be written such that you are positioned to fail from the start  Practical suggestion: Charter a small scope in a business area where projects and programs are generally successful already
  • 43. #2: Lay the Foundation (cont)  What are you chartering? The activities required to:  Engage resources to support the effort  Establish benefits realization processes, tools, and practices  Conduct a pilot of the benefits realization process on a reasonable scope  The work required to plan for the extension of benefits realization into the organization based on pilot success
  • 44. #3: Build the Process  Basic models for benefits realization management exist so there is no need to recreate the wheel here. However, you should:  Ensure the appropriate integration of whatever you build into your existing organizational process assets  Create a process that is actually useful and practical to implement without overburdening the people who need to do the work  Spend a lot of time on clearly articulating and documenting roles and responsibilities as well as how you will manage accountability  Spend a lot of time educating and training, especially for roles that may exist outside of your sphere of influence (Senior Responsible Owners, Business Change Managers, etc.)
  • 45. #3: Build the Process (cont)  You can try to build an entire process from the start, but many organizations find it easier to focus on benefits identification and the benefits realization plan first  This seems sensible since there is a lot of work here and for many organizations simply being able to articulate the benefits they want in a traceable and reportable way is a big win  Then, focus on the business change aspects, building capability in business change management as associated practices  Later, you can work on benefits transition and sustainment activities
  • 46. #4: Create a Pilot  A good pilot candidate for testing out your approach  Is not the most important project/program/initiative in the company  Is not the least important project/program/initiative in the company  Is not the most risky project/program/initiative in the company  Is not the least risky project/program/initiative in the company  Has a reasonable change of success  Has a sponsor who is committed to the effort as well as to the benefits management approach  Is reasonably well understood by everyone who is involved in the process
  • 47. #4: Create a Pilot (cont)  The goals of this pilot are to  Test out your processes and tools (especially as related to identifying benefits, mapping benefits to actual work, and planning for realization)  Educate additional stakeholders  Validate if reporting mechanisms are appropriate  Learn lessons that will be helpful as you move forward  The pilot is over when  You are comfortable that the process works and is not burdensome  You have addressed all major risks and issues you’ve uncovered  Stakeholders are not complaining excessively
  • 48. #5: Plan for the Future  Assuming a successful pilot, you are ready to:  Develop a rollout roadmap  Charter the additional work required to bring the process to a broader organizational scope  Publish pilot success story and begin to more broadly communicate about your efforts  Expand the process capability building efforts as needed
  • 49. And How Do I Know I’m Done?