BENEFITS MGMT Flashcards
PURPOSE OF BENEFITS REALIZATION PLAN
- Ensure all stages of program are mgd to satisfy use of program’s outputs
- LInk outputs to planned program outcomes
- Assess program’s outputs
- Guide corrective action if required
- Ensure planned outcomes are achieved prior to formal closure
BENEFITS REALIZATION PLAN PARTS
- Business Benefits to achieve 2. Plan to realize the benefits 3. Metrics 4. Transition plan - what processes/systems affected, what changes to occur and when
ACTIVITIES DURING “DELIVERY OF PG BENEFITS”
- Establish Gov Structure 2. Initiate projects 3. Ensure deliverable meet requirements 4. Analyze progress vs plan 5. ID Environment changes and impact 6. Mg Resources and Inter-dependencies 7. ID & Mg Risks 8. ID Issues and Corrective Actions 9. Review Change Requests 10. Corrective Actions when gaps/issues 11. Communicate with stakeholders & governance board
SETUP PHASE ACTIVITIES
focus around creating any of the “Plans” that are part of the Program Mgmt Plan
BALANCED SCORECARD
Benefits measurement technique which includes a set of performance measures. Cover range of areas that reflect a balanced view of org performance.
THINGS TO CONSIDER FOR PRIORITIZING BENEFITS
- Alignment with strategic Obj (top) 2. short/long term expected results 3. resource availability 4. probability of success
PURPOSE OF BENEFITS REPORTING (5)
- Ensure delivery to plan
- Ensure ownership of te solution by relevant business area
- Keeps Pg Team honest (data vs opinions!)
- Enables Benefits to be folded into regualr Mgmt Reports for the org
BENEFITS MGMT KEY TASKS (8)
- Develop Benefits Realization Plan and its measurement criteria to set baseline for pg and communicate to stakeholders
- ID and capture synergies and efficiencies ID throughout program life cycle to update & communicate benefits realization plan to stakeholders, including sponsors
- Develop a sustainment plan that ID’s the processes, measures, metrics, and tools for benefits mgmt beyond completion of the program to ensure continued realization of intended benefits
- Monitor the metrics (i.e. by forecasting, analyzing variances, developing “what if” scenarios and simluations, and utilizing causal analysis) to take corrective actions in the program and maintain/improve benefits realization
- Verify the close, transiton, and integration of projects and the program meet benefit realization criteria
- Maintain benefit register and record program progress to report the benefit to stakeholders via communications plan
- Analyze and update benefits realization /sustainment plans for risks to determine if corrective actions needed
- Develop transition plan to operations to guarantee sustainability.
COMMON PITFALL OF PROGRAM
Must be sure your Benefit Realization Plan is integraated wiht the Pg Mgmt Plan. Benfit reporting should be incorporated with program reporting. This integrated Pg Mgmt Plan then provides visibility and ownership at the sponsor level and at the delivery level.
Example of Pg where Benefits delivered only at the end when everything comes together
Major construction efforts such as roads, buildings, etc (can’t be used by anyone until everthing is complete and they are opened)
Example of Pg where Benefits accumulate at the various projects complete their deliverables
Business process improvements, IT projects that roll out across departments, etc
What Program Phase does Benefit Realization Planning occur?
Program Initiation Phase. Benefits Realization Plan is a main output of the Program Initiation Process
When does Benefits obtainment transfer from the PgM to Ops?
Only when the Pg ends. Prior to that, ops may be involved, but it is the PgM responsibility.
What steps should be taken IN THE PROGRAM to ensure Benefits Sustainment after closure? (7)
- Product Support development
- Ops Resource need committed
- KT to Ops: Product info and predicted lifecycle performance to consider
- Support Rep on Product team
- Customer Support org in place
- Training to Ops, etc
- Ops & Support Process development
What steps should be taken BY OPS to ensure Benefits Sustainment after closure? (7)
- Proactively mg Product Lifecycle
- Use Ops Project Mgmt to deliver upgrades
- Benchmarking Support Practices ongoing
- Mg customer experience for installed base upgrades
