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Benefits Of Project Financial Validation Sample

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  • 1. Best Practices in LeanSigma Financial and Project Benefit Reporting
  • 2. Contact details Sample page For more information on this course or others, contact Julie Brignac +1 305 890 9078 [email_address]
  • 3. Purpose
    • Discuss what works regarding a project benefit infrastructure
    • Share information as a best practice in this arena
    • Answer questions regarding the infrastructure and deployment of Quality in your organization
    • Peak your interest in an otherwise boring (but necessary) subject
    Copyrighted Material 2009. QuantumSix Solutions, Inc. All Rights Reserved.
  • 4. Understand Project Benefits
    • First,
      • UNDERSTAND your businesses main drivers and metrics
      • Develop a path and link your projects ultimately to those metrics
    • Second,
      • Encase your project benefits definitions around your organizational structure
    Copyrighted Material 2009. QuantumSix Solutions, Inc. All Rights Reserved.
  • 5. Project Benefit Guidelines
    • Purpose
      • The intent of this document is to give Quality Project Leaders and Financial Approvers guidelines to understand project benefit categories, the process for assessing benefits in a project, and the calculation of project benefits.
    Copyrighted Material 2009. QuantumSix Solutions, Inc. All Rights Reserved.
  • 6. Sample Guideline Contents
    • Definitions
    • Project Benefits Process & Roles
    • General Rules
    • Benefit Categories & Calculations
    • Tools & Templates
    Copyrighted Material 2009. QuantumSix Solutions, Inc. All Rights Reserved.
  • 7. Project Benefit Network
    • To provide project resources specific contacts who are responsible for validating their project benefits per the guidelines
    • Roles and Responsibilities
      • Project Governance Process should dictate a project benefit assessment at:
        • Charter stage  Build initial benefits model
        • Periodic auditing throughout project to clarify benefits
        • Final signoff by Finance of validated benefits
          • Reconciliation to P&L, if applicable
    Copyrighted Material 2009. QuantumSix Solutions, Inc. All Rights Reserved.
  • 8. Consistent Project Governance Process Project Charter Benefit Assessment Project Approval Project work (controls & tollgates) Project Complete Generic Project Cycle Reporting and Analysis Track and Report Benefits Copyrighted Material 2009. QuantumSix Solutions, Inc. All Rights Reserved.
  • 9. Electronic Project Repository
    • Requirements
      • Web-based access for all business units
      • Lifecycle management for all projects
      • Estimating model, particularly for capital intensive projects
      • Robust reporting including project dashboard, including benefit analysis
      • 12-month forecasting of project benefits for active and pending projects
    • MUST have governance process in place prior to system
      • A system will not drive your process
      • The system must MIRROR your process and meet your requirements
      • Don’t think of the system as an antidote for any lack of process(es)
    Copyrighted Material 2009. QuantumSix Solutions, Inc. All Rights Reserved.
  • 10. Summary
    • Define your organization that will be benefit assessed
    • Have a central governing body and focal point for project benefits
    • Important to have project benefit guidelines and a network corporate wide so everyone talks the same language and reports the same way
    • Let the process govern the system, not vice versa
    Copyrighted Material 2009. QuantumSix Solutions, Inc. All Rights Reserved.

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