Managing Benefits Guidance
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This is the presentation that i used to talk at the APMG International's launch of Managing Benefits Guidance. This is the new book by Steve Jenner and if you read the back cover you'll see my feelings about it.
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Managing Benefits Guidance
- 1. My meandering thoughts… By Craig Kilford @MrPortfolio
- 2. Why change? Improve, be better, success, freedom, happiness
- 3. Religion: Collection of belief systems, world views, moral values…
- 4. There are around 4200 religions in the world
- 5. Some are very interesting: Jainism - Digambara monks
- 6. Quran: Verbally recited for 23 years before being written
- 7. Biblical Canon: From Greek meaning “rule” or “measuring stick”
- 8. Lots of sign posts no definitive direction
- 9. No real direction until now…
- 10. Office for National Statistics Census Gross Domestic Product Labour Market (Lots more) Government and Bank of England make big decisions You
- 11. Governance: BIG team, BIG process, BIG commitment ONS Board and UKSA Provide strategic direction Decisions to enable Executive Leadership Team (ELT) Business portfolio delivery Ensure the portfolio’s ongoing contribution to ONS strategic objectives success Portfolio Delivery Committee Review the overall portfolio status. Recommendations to Executive Leadership Team on funding, benefits realisation, investment, resources, risk, portfolio sequencing, dependencies, overall deliverability and governance. Timely, high quality status information Business Investment Group (BIG) Provide a robust, supportive and consistent approach to identifying, valuing, planning, realising and reviewing benefits. Portfolio Delivery Unit Ensure right changes, the right way with the right people every time
- 12. Who benefits from what benefits? (draft) £M 500.0 450.0 £405M 400.0 350.0 300.0 250.0 200.0 150.0 100.0 50.0 £28M 0.0 £22M £28m 6% BoE £75m £22m (19%) 5% Other £113m HMT (28%) £98m (24%) Financial £405m 89% Non-Financial DCLG BIS £90m Economic £19m (22%) (5%) Eurostat Portfolio costs £10m (2%)
- 13. Value Experience: How do you make my life better? Sept/Oct Nov/Dec Jan/Feb March/April - We can see the - We understand the - Resourcing overall Portfolio of - We see portfolio portfolio delivery information is much projects and delivery progress status clearer programmes ONS Board - We understand the - We feel confident - We feel the value of Portfolio -We understand the financial performance about portfolio having a Portfolio Management projects and initial and risks of the information Delivery Unit Value benefits portfolio Experience - We start to see - We feel that ONS - We have a good - We understand who portfolio and business has enhanced its understanding of owns and realises as usual resource ability to deliver project delivery benefits requirements change status Updated Portfolio Draft Executive Level Project Planning Delivery Journey Key benefits management Standards being 2012-2014 Portfolio adopted within the Updated Portfolio report to ELT and Office projects Delivery Journey in ONS Benefit ONS Board activity partnership with Management Project delivery Financial planning standards in place Project reporting fully embedded lifecycle being and starting to be adopted used
- 14. Some key benefits from Managing Benefits guidance? Investment appraisal: Organisational Energy: Executive Leadership: Better more realistic Better engagement and More confident decisions team work Portfolio Prioritisation: Truth: Delivery Success: More efficient Reduced funny money More proactive focus on prioritisation benefit claims benefits whole cycle Happiness: People Skills: Business case: People deliver more Increase capability and More efficient business success, people get skills case creation happier
- 15. Benefits are the destination, everything else helps us get there
- 16. Religion Successful Business Change Benefits Bible Religious Best Practices If business change were a religion…
- 17. Tweet @MrPortfolio for more meandering thoughts
Editor's Notes
- I havent been to church for a while…..this book made me go to church. This book made me think, it made me think a lot. So I’ve decided to tell you about some of those thoughts, they meander quite a bit…and then I’m going to mention about how one of the most exciting places I’ve worked is already putting some of this stuff in place
- This book contains the reasons we embark on change. It made me think about that a lot, why bother, its because we want to improve, get better…people don’t change purposely to be a worse situation. Why get better? Because better is success, success brings satisfaction, freedom and happiness. Where else is there such a catalyst….and religion popped into my head.
- Religions are usually started as revitalization movements of some sort ….a movement that inspires to ask questions and look for more comprehensive answers, answers that will help over come the problems they face each day…..people want to overcome problems, people want to do things better….We heard earlier from steve about some of the problems that we all face each day in managing business change….there are some parallells there. So I thought a little bit more
- The practice of a religion varies a lot. Some include rituals, sermons, sacrifices some cross over and become law, some worship one or many gods….and some use scriptures. As I was looking around I found some very interesting ones…
- take Jainism for example. For Digambara monksfreedom means a path without attachments or aversions….non-attachment extends to not attaching any clothes to ones body. If business change was a religion inspired by Jainism….things would be a whole lot more interesting
- I then though about important scriptures and how they help people live their lives, provide a framework in such a away that enables people to do the right thing and believe in a future happiness….the qua’an being particularly interesting because this was communicated to mohammed for 23 year verbally and it wasn’t until he died that it was written down.Mohammed did incredibly well without Twitter.
- I then thought about the bible, meaning “the books”. Biblical Canon is a list of books considered to be authoritative scripture…This is interesting.3 Books - Book of Benefit Principles.Book of Benefits Cycles.Book of Benefits Practices with 5 psalms .
- Benefits management has been around for some time. I think steve has a fair way to go yet to beat Mohamends 23 years….but never the less. There isnt a definitive scripture. One that enables accreditation and can be communicated to the masses on a global scale One that will enable people to understand how to improve, how to invest in the activities that takes us to a better place
- That is until today.
- I’m working at the Office for National Statistics as interim Deputy Director for Portfolio Management and Portfolio Delivery Unit. It’s one of the most exciting places I’ve ever worked, which I know you find suprising because statistics are boring right….wrong. For those of you that don’t know what we do just imagine ONS as the stethoscope for the country, we’ll listen to your heart and tell government and bank of England how it is and they make big decisions that impact all of you. I should point out, that if you want my great job on a permanent basis it is being advertised tomorrow 25 Sept on ONS.gov.uk but beware you’re going to have to be good to get this gig!
- You will see in the book a reference to BIG – Benefits Investment Group. That’s inspired by us, although we’ve changed it now to Business Investment Group to make sure we focus on the business aspects of the business case as well as the benefits side of thing. Never the less it still manages all the investments and is incorporated in our senior leadership governance
- We are also using the guidance to define our benefits better. We are at a place now where we can see what the benefits trajectory is for the whole portfolio. This is not an easy thing to acomplish. Nor is understand who actually realises value from your benefits, the blobby diagram at the bottom is really useful to understand who sees the value. Also important is that we can align all of our projects in the protfolio to these things which means if someone wants to cut our budget we can show them the implication on the overall portfolio return, as well as who would feel the pain from that.
- This is one of my fav little tools. It’s a value experience plan. You’ll find a version of this in the book focused on the value experience of implementing benefits management across an organisation. This particular one was just shared with the ONS Board helping them understand the value they will experience from portfolio management, this is cool because it kind of doubles up as my promised to them. Feedback is people really love it, and maybe it’s a sign of me getting all strategic but before I put my energy into something I want to see what value I will get…I don’t want to know all the detail, just tell me the value in simple terms.
- I was thinking about the benefits you guys will get from this book…heres some of the headlines.
- So as I go back into my meandering thoughts, its becoming clear that actually benefits management is the reason we are all here trying to change business. It is the destination and the way we delivery portfolio’s, programmes, and projects is simply the way we get to the destination
- We should be proud that our government has developed a worldclass suite of best practice because it is helping people all over the world deliver their changes better, helping them to realize the benefits they need that contributes to their overall success with changing their organizations and lives of people.But if I go back to my original meandering thought…… if business change were the religion, prince2, mop and the rest of them would be the religious practices and Managing Benefits would be the bible because it is the reason “why” we are doing all of this. I love this book.