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Benefits Management Webinar – It doesn’t have to be complicated
- 1. BENEFITS MANAGEMENT It doesn’t haveto be complicated Webinar :: 6 September 2012 www.tannerjames.com.au :: 1300 774 623
- 2. AGENDA 20 Minutes –approximately • Typical Challenges • Benefits Management – Programme level – Project level – Portfolio level • What is also required • Keys 10 Minutes - Questions www.tannerjames.com.au :: 1300 774 623
- 3. TYPICAL CHALLENGES • Whatis a benefit • Defined initially to justify funding • Business Cases approved, then review required …later • What to measure, how to measure. • Just get on with it www.tannerjames.com.au :: 1300 774 623
- 4. BENEFITS MGT -Programme • Benefits Management Strategy • Benefits Maps • Benefit Profiles • Benefits Realisation Plan All during Programme Definition but revisited throughout programme www.tannerjames.com.au :: 1300 774 623
- 5. BENEFITS MAP www.tannerjames.com.au :: 1300 774 623
- 6. BENEFITS MGT -Project Outline Business Case :: Business Case :: Benefits Review Plan www.tannerjames.com.au :: 1300 774 623
- 7. BENEFITS MGT -Portfolio • Portfolio Benefits Management Framework - Benefits eligibility rules - Helps consistency and understanding • Portfolio Benefits Realisation Plan • Review and Report • Prioritisation and strategic alignment www.tannerjames.com.au :: 1300 774 623
- 8. WHAT IS ALSOREQUIRED • Governance and senior management commitment • Best if practiced across the portfolio – Common terminology – Benefits reporting – Benefit reviews – Full scope of business change • Post implementation reviews – Capture lessons and feed them back www.tannerjames.com.au :: 1300 774 623
- 9. KEYS • Get stakeholdersinvolved early • Create a Benefit Map / Benefit Dependency Network, and Benefits Distribution Matrix • Focus on the Mandate • Assign responsibility for benefits • Impact on strategic objectives and BAU KPIs • Review and Update • MEASURE! www.tannerjames.com.au :: 1300 774 623
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Editor's Notes
- #5 Managing Successful Programmes (MSP®) uses the Identify, Plan, Deliver and Review cycle for benefits management. MSP makes the point that it is continuous and iterative throughout the programme and supported by extra activities to optimize and identify further benefits. Benefits Management Strategy How, Who, When… To help ensure the involvement of key stakeholders, benefits workshops may be conducted to identify benefits Benefits Maps
- #8 Portfolio Benefits Management Framework Benefits eligibility rules ( Benefits eligibility rules define how benefits should be consistently categorized, quantified, valued and validated in the preparation of business cases etc. This then allows change initiatives to be compared on a consistent basis and helps prevent double counting.) Helps ensures consistency and understanding of the benefits management approach across the organisation Portfolio Benefits Realisation Plan A forecast of the impact of existing and completed change initiatives on business performance and strategic objectives – and measures used to assess this impact. Benefit Reporting Benefit planned and achieved included in reports from initiatives as well as from the portfolio as a whole Priorititisation and strategic alignment A consistent approach to benefits identification provides a basis for the prioritisation of initiatives and helps ensure strategic alignment – creates a level playing field.
- #10 Get stakeholders involved early – all project board members should be part of benefit workshops. The Senior User(s) should primarily identify and then ‘own’ the benefits for a project within their area of the business. They may require subject matter experts to help flush out the details – this can come later or they can also be part of any workshops. The creation of a Benefit Map or Benefit Distribution Network (BDN) will provide the ‘picture on a page’ and help show the mapping of outputs to capabilities to outcomes to benefits. Benefits do not happen by chance, they require business change. The Benefits Map is a great way to understand the dependencies with regards to benefits. A Benefits Distribution Matrix helps with stakeholder engagement and communication as well as benefits management. In Benefit Profiles Assign responsibility for a benefit Try and use existing KPIs and measures The benefit profiles, including the forecasts and other information they contain will be expected to be refined throughout the programme or project. These should therefore be reviewed and updated throughout at key times (end of tranche/stage). Don’t forget to establish baseline measures and set Also, there are we able to achieve additional benefits following transition?