PMI defines Benefits Realization Management as the processes and practices for identifying benefits and aligning them with formal strategy. Through BRM, organizations can ensure that project and program benefits are realized and sustained.
This presentation provides practical advice in applying the framework through integrated planning with organizational change management.
Best Practices for Implementing an External Recruiting Partnership
Maximizing Project Benefits
1. The New Gauge for Project Success
Tony Fatouros
November 2018
2. 2
Introduction to Benefits Realization
Integrated Project and Change Management Planning
The 3 Phases of PMI’s Benefits Realization Management Framework
Identify Benefits
Execute Benefits
Sustain Benefits
3.
4. 4
Benefits Realization Management (BRM) provides organizations
with a way to measure how projects and programs add true value
to the enterprise…
BENEFITS REGISTER:
Collection and list of the planned
benefits used to measure and
communicate the delivery of benefits
throughout the duration of the project
or program.
BENEFITS REALIZATION PLAN:
A document outlining the activities
necessary for achieving the planned
benefits. It identifies a timeline and
the tools and resources necessary to
ensure the benefits are fully realized
over time.
BENEFITS SUSTAINMENT PLAN:
A tool to identify risks, processes,
measures, metrics, and tools necessary
to ensure the continued realization of
the benefits.
BENEFITS REALIZATION
ROADMAP: Visual illustration that
shows when and how benefits are
expected to be enabled for the business
owner to then utilize for benefits
realization.
9. 9
ORGANIZATIONAL CHANGE MANAGEMENT
IDENTIFY EXECUTE SUSTAIN
BENEFITS REALIZATION
PLAN
(Project Benefits
Management Plan)
Benefits
Delivery
Adoption
Role
BENEFITS
REGISTER
(Tied to
Backlog)
FINAL
BENEFITS
SUSTAINMEN
T PLAN
PRACTICALLY
SPEAKING
• To keep pace with Delivery, BRM must also be lighter weight in terms of
deliverables with abbreviated versions.
• Benefits are tied to Epics, Stories, or Backlog Items. Planning is front loaded
along with sprint planning.
• Roadmap connotes changes if used
SUSTAINSUSTAIN SUSTAIN
BENEFITS
REALIZATION
ROADMAP
(OPTIONAL)
12. 12
Benefits have lifecycles spanning strategy
through operations and require traceability
STRATEGY DELIVERY OPERATIONS
13. 13
Benefits have timing
Data Center Move Acquisition
Benefit = Achieve Cost Downs Benefit = Increase Revenues
VS
14. 14
PMO Criteria
Project Business Case
Ask Stakeholders
Organizational Reports
Organizational Strategy(s)
Standard Operating
Procedures
Industry Standards and
Organizations
15. 15
Define Benefits, associated
assumptions, and dependencies
Plan to deliver
Metrics, including KPIs, and
procedures to measure progress
against benefits
Timing through lifecycle
How the resulting benefits and
capabilities will be transitioned into
an operational state to achieve and
sustain the benefits
Processes for determining the extent
to which each project or program
benefit is achieved prior to formal
closure
Roles and responsibilities (RACI)
PRACTICALLY
SPEAKING
• Transition will
influence project
closure
• New roles or role
changes are common
• Acid Test:
• Measured
• Traceability
• Timing
• Roles
16. 16
PRACTICALLY
SPEAKING
• Do you prefer high level, then working out details?
• Do you prefer bottoms up planning?
• Focus on KPI’s and recognized metrics
17. 17
PRACTICALLY
SPEAKING
• Different stakeholders are engaged for different reasons
• This will extend to benefit ownership
• Align OCM along this critical axis
DEPARTMENT
AGENCY
CUSTOMER
VENDOR
18.
19. 19
Communication
s
Engagement
Readiness
Adoption
• Benefits
Register
• Governance
• Benefits
Roadmap
PRACTICALLY
SPEAKING
New
Benefits
will be
discovered.
Others will
“fall out”
• Baseline
Data
• Analytics
PRACTICALLY
SPEAKING
Sometimes, no
data exists
PRACTICALLY
SPEAKING
OCM
20. 20
Collect Data from current systems and processes and baseline
Implement new formulas and reports
PRACTICALLY
SPEAKING • Ensure stakeholder buy-in on data sources and baselines
PRACTICALLY
SPEAKING
• BRIDGING IS CRITICAL – Document and demonstrate
changes in formulas, timing, etc if they exist
• Ensure stakeholder buy-in
21.
22. 22
• Provides the detail from the Benefits
Realization Plan on sustainment
• Updated Benefits, associated
assumptions, and dependencies from
an Operational perspective
• Updated procedures to measure
progress against benefits
• Roles and responsibilities required to
sustain benefits
• Target performance
PRACTICALLY
SPEAKING
• Create with
operational owners
• Targets recommended
(but ultimately based
on organizational
culture)
• Acid Test:
• Measured
• Traceability
• Timing
• Roles