Organisations make selections between options on how best to invest their money to get organisational benefits realisation, with choices theoretically directed by making optimum decisions by maximising return – of either money invested or strategic intent converted into operation reality.
Realising benefits is the achievement of real value returned by focusing effort, activities, deliverables and governance on making positive changes in the way an organisation performs.
Since the 1950’s benefits management has gradually matured into a discipline with a number of powerful tools to support management in establishing ‘line of sight’ between its strategic need and its delivered capability. There exists a ‘knowing-doing’ gap however, with good practices known but rarely applied effectively. It has been proved that given the right direction and impetus; this can be eliminated with governance focusing and gaining traction on the recovery of value from planned change.
The strategy of the company and the values associated with its deployment are set out, the information derived from document analysis, analysis of past and current expenditure, structured reviews of the corporate portfolio, and the views of policy makers and decision makers. This is collected, rationalised and mapped from strategic need to operational products and services – together with the practices and processes in use, needing to change, and those missing.
With this clear line of sight from Board intent to project deliverable, the design and implementation of the necessary projects and change initiatives is worked through with the PPMC, and where appropriate, with the portfolio and PMO management groups.
Where frustration has been expressed by the senior management team that the current project portfolios are not delivering to their vision – there is a good case to invest in better benefit realisation processes.
Our approach to improving organisational benefits realisation would typically involve the use of the following tools and models:
Lack of ‘lines of sight’ causes concern in governance groups and often leads to wasted expenditure – so reviewing the current set business cases and comparing them with the declared strategy can often expose a fault line that can be remedied by focusing on value delivered.