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Portfolio and Benefit Management

Beyond projects, programs and the business case.

Businesses continually try to grow and improve, no matter what industry they are in. Whether strategy is to increase market share, retain competitiveness or meet compliance requirements, the change is often delivered by projects and programs.

In your business, project management, as a competency, has focused on improving the rate of successful delivery of the infrastructure, IT, process and organisational changes that enable change to be achieved. Program management looks to group projects that are delivering towards common outcomes and focuses more on benefits realisation. Hopefully, both project and programs are underpinned by a sound business case.

challenges faced by businesses

The challenge that a lot of businesses face is how to translate delivered projects and programs into business value when they complete. Commonly the concept of "benefit realisation" is discussed and many businesses struggle to put this in to practice.

The challenge is that only looking at benefits realisation means that some necessary steps have been missed. If there is inconsistent understanding on how benefits targets have been set and how they will be measured, the following can occur:

  • disagreement on the validity of benefits being tracked
  • differences between approaches for forecasting benefits and measuring actual benefits realised
  • Projects are running to deliver “something” the business doesn’t need
  • and/or inappropriate benefits being set or claimed for projects or programs in the first place.

our approach

At Benefit Management, our experience has shown that a holistic approach to benefit management needs to be taken and we have developed this through successful client application into our Benefits Lifecycle. Our skill is in being able to help you practically apply this to your business to maximise your chance of achieving your strategic goals.

LATEST BLOG ARTICLE

Recipe for Successful Strategy

Friday, October 25, 2013

With all the buzz surrounding cooking shows at the moment, it got me thinking…imagine if we applied the same approach to strategy. As we all know, successful strategic planning and execution is both an art and a science, so the thought of allocating specific quantities of anything may seem a little absurd. But just think of this as a basic cake recipe – you can add all the flavours and decorations later depending on the specific context, but first of all you need some solid foundations upon which to build.  

6 Lessons in change management

Friday, October 11, 2013

I love technology. I love how a clever system, app, or piece of equipment can quickly become an integral part of our lives. So much so, that within days of using it – you wonder how you ever did without it.  

The importance of relative performance

Thursday, October 03, 2013

Last week we explored some of the thinking from Phil Rosenzweig in challenging conventional wisdom and explanations for company performance. One of his examples highlights another important aspect of competitive businesses, that being relative performance.  

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