Benefits Realization Management: Strategic Value from Portfolios, Programs, and Projects, 1st Edition (Hardback) book cover

Benefits Realization Management

Strategic Value from Portfolios, Programs, and Projects, 1st Edition

By Carlos Eduardo Martins Serra

Auerbach Publications

276 pages | 50 B/W Illus.

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pub: 2016-09-27
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Description

Benefits realization management (BRM) is a key part of governance, because it supports the strategic creation of value and provides the correct level of prioritization and executive support to the correct initiatives. Because of its relevance to the governance process, BRM has a strong influence over project success and is a link between strategic planning and strategy execution.

This book guides portfolio, program, and project managers through the process of benefits realization management so they can maximize business value. It discusses why and how programs and projects are expected to enable value creation, and it explains the role of BRM in value creation. The book provides a flexible framework for:

  • Translating business strategy drivers into expected benefits and explains the subsequent composition of a program and project portfolio that can realize expected benefits
  • Planning the benefits realization expected from programs and projects and then making it happen
  • Keeping programs and projects on track
  • Reviewing and evaluating the benefits achieved or expected against the original baselines and the current expectations.

To help project, program, and portfolio managers on their BRM journey, as well as to support business managers in executing business strategies, the book identifies key organizational responsibilities and roles involved in BRM practices, and it provides a simple reference that can be mapped against any organizational structure. A detailed and comprehensive case study illustrates each phase of the BRM framework as it links business strategy to project work, benefits, and business value. Each chapter ends with a series questions that provide a BRM self-assessment. The book concludes with a set of templates and detailed instructions to ensure successful deployment of BRM.

Table of Contents

PART I Benefits Realization Management and the Creation of Strategic Value to the Business

Introduction

Making the Case: Relevance of Project Benefits for Business

Guide to the Subsequent Chapters

End-of-Chapter Review Questions

Strategy Execution: Translating Corporate Strategy into Program and Project Strategy

Increasing Effectiveness in Strategy Execution and Techniques

Strategy Execution: A Journey from Business Strategy to Project Strategy

Chapter Summary: Strategy Execution: Translating Corporate Strategy into Program and Project Strategy

End-of-Chapter Review Questions

Project Success and Creation of Value to the Business

Multiple Dimensions of Project Success

Delivering Value through Project Management

Chapter Summary: Project Success and Creation of Value to the Business

End-of-Chapter Review Questions

PART II Enterprise Benefits Realization Management (eBRM)

Establishing the Environment for Benefit Realization

Introduction: Developing and Aligning Strategies

Creating or Enhancing the Environment for Effective

Key Roles and Responsibilities for Benefits Realization Management

Case Study: Benefits Realization Management at ProjectEng Civil Engineering Services Ltd.

Chapter Summary: Establishing the Environment for Benefits Realization

End-of-Chapter Review Questions

Planning Benefits

Introduction: Composing Portfolios of Initiatives

Translating Business Strategy Drivers into Expected Benefits

Composing a Project Portfolio to Realize the Expected Benefits

Case Study: Enterprise Benefits Planning

Chapter Summary: Planning Benefits

End-of-Chapter Review Questions

Realizing Benefits

Introduction: Delivering Outputs, Business Changes, and Outcomes to Realize Benefits

Planning Benefits Realization

Enabling the Realization of Strategic Benefits

Making Benefits Happen

Case Study: Enterprise Benefits Realization

Chapter Summary: Realizing Benefits

End-of-Chapter Review Questions

Reviewing and Evaluating Benefits

Introduction: Managing the Ongoing Portfolio of Initiatives

Keeping Programs and Projects on Track

Reviewing and Evaluating Benefits

Case Study: Enterprise Benefits Review and Evaluation

Chapter Summary: Reviewing and Evaluating Benefits

End-of-Chapter Review Questions

Appendices

Answers to End-of-Chapter Questions

Recommended Further Reading

Case Study: Worked Examples

Enterprise Benefits Realization Management Toolkit: Blank Templates

Enterprise Benefits Realization Management Toolkit: How to Use Guidance

References

Index

About the Author

Carlos Eduardo Martins Serra is a certified PMP and Prince2 Practitioner. He holds a master’s degree with merit in program and project management from the University of Warwick (United Kingdom), a postgraduate specialization certificate in project management from the Federal University of Rio de Janeiro (UFRJ) (Brazil), and a bachelor’s degree in engineering from the Federal Center of Technological Education (CEFET-RJ) (Brazil).

He has been working since 1999 in project management environments across various market sectors, countries and roles in small and local businesses, as well as very large and global businesses. His work has focused on both national and global project, program and portfolio management roles, as well as on PMO roles. These roles have involved developing, implementing and executing project management processes and influencing project, program and portfolio managers, project sponsors and business managers around methodology, governance, and reporting. He has relevant energy sector experience from having worked for Ampla, Exxon Mobil, Petrobras, Venture Information Management, Lloyd's Register Energy and Gazprom Marketing and Trading. In addition to his professional experience in the PM field, he is actively committed to the development of project, program and portfolio management knowledge by frequently supervising or even taking active roles in research projects and by being an active member of the Project Management Institute (PMI) and of the British Association for Project Management (APM). He has written numerous academic articles, reports and white papers and he has won academic and professional awards. A specialist reviewer in the areas of governance and project management best practices for the International Journal of Project Management, he has designed and delivered project management and quality management course modules, lectures, and presentations for MBA programs, conferences, and training events, as well as companies' internal training programs.

About the Series

Best Practices in Portfolio, Program, and Project Management

Learn more…

Subject Categories

BISAC Subject Codes/Headings:
BUS042000
BUSINESS & ECONOMICS / Management Science
BUS101000
BUSINESS & ECONOMICS / Project Management
COM032000
COMPUTERS / Information Technology