“Shallow men believe in luck, strong men believe in cause and effect.”
– Ralph Waldo Emerson
In the busy business of project and program management, sometimes benefits realisation management takes a back seat to delivery. Actually, proving the benefits from projects and programs is one of the biggest challenges faced by many organisations today. As the need to justify investments becomes more and more prevalent, effectively managing the realisation of benefits has become a key concern of many business managers.
Benefit Management has worked in this space for a number of years, and we have seen many different ways that organisations manage benefits, all with varying levels of success. We believe the first step toward successful benefits management is to establish an agreed approach for how you claim, measure and report on benefits; an approach which is supported by management and which links to strategic objectives. This takes the complexity out of benefits management by setting rules and guidelines for projects, programs and the wider business to work with.
At Benefit Management, we firmly believe that effectively managing benefits is key to reaching your strategic targets. We specialise in transforming what seems extremely complex challenges into practical and useful processes, systems and guidelines that support effective management of benefits.
For several government projects that we have worked with, we have assisted managers to re-evaluate the benefits that were forecast in the original business cases, to really see if they are achievable. In one particular case, we worked in collaboration with a program manager, relevant project managers, as well as key stakeholders, to submit a revised business case with valid, realistic benefit forecasts. Not only was the credibly of the program enormously enhanced, stakeholder expectations were also able to be re-set as to what they could expect to get out of the program.
Challenges We Find
- Benefits claimed in the Business Case are not achievable
- Benefits management is a ‘tick in the box’ exercise carried out by Project Managers at the beginning of a project
- No business rules exist in relation to forecasting, tracking or reporting on benefits realisation
- Benefits are not being realised as planned, yet no action is taken
- Benefits don’t link to one set of strategic objectives
Examples of how we can help
- Building capability in the methodology and tools required to successfully manage benefits
- Developing a Benefits Management Framework that practically assists the organisation to implement benefits management
- Developing benefits linkage maps to demonstrate and assess linkages between project/ program benefits and strategy
- Assisting in project/ program benefit identification and measurement
- Capability building in the area of benefits management to ensure sustainability of the benefits framework