Earned Benefit Program Management: Aligning, Realizing, and Sustaining Strategy, 1st Edition (Hardback) book cover

Earned Benefit Program Management

Aligning, Realizing, and Sustaining Strategy, 1st Edition

By Crispin Piney

Auerbach Publications

394 pages | 100 B/W Illus.

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Description

No one can disagree that benefits are good things. Whether you are responsible for projects, programs, or portfolios, you are increasingly expected to think—and act—in an appropriate benefits-driven way. However:

  • Do you understand that what may be appropriate for a project may be inapplicable for a program?
  • Can you avoid the trap of wishful thinking based on overinflated expectations and underestimated costs?
  • Can you manage your program or portfolio from inception to final delivery in a consistent, benefits-focused way based on a single, coherent model?

This book describes how Earned Benefit Program Management techniques provide an innovative, all-inclusive model and set of tools developed specifically to answer these questions. This model consolidates the key concepts of project, program, and portfolio management and ensures that all program and portfolio management steps are carried out based on a single, signed-off model in a consistent, verifiable manner within a consolidated life cycle. This approach guarantees alignment with strategic goals and constraints through every stage of a program.

Case studies highlight the key features of the approach and provide important lessons and insights for managing programs. Although the ideas and concepts for each topic are fully consistent with existing standards and other published material, they are based on new thinking and go beyond current practice. They provide a set of original and powerful techniques that are applicable to both programs and portfolios in a wide range of business environments.

Table of Contents

1. Defining the Domains

Projects, Programs, and Portfolios

Projects and Operations

Understanding the Roles

Commonalities

Differences

Compromise Terminology

Desired Result

Conclusion on Ps, O, and T

Loose Ends

Towards Total Program Management

2. Understanding the Problem

Synergy

Business and Benefits Management: The Core Concepts

Structure of the Benefits Realization Map

Recap on the Benefits Realization Mapping Technique

3. A Life Cycle for Program Management, Benefits Management, and Business Analysis

Current Life Cycles

Modified Benefits Realization Life Cycle

Close-Up on the Benefits Realization Life Cycle

Integrating Business Analysis and Project Management

Working with the Business Analyst

Case Study: QERTS Merger

4. Building an Integrated Business Model

Business Case Development

Contributions and Allocations

Description of the Benefits Realization Map

The Business Transformation Example

Estimating the Contribution Fractions

Applying the Concepts to the QERTS Example

An Honest Business Case

5. Calculating the Model

Picturing the Contributions

Understanding Allocations

Selecting the Algorithm for Determining the Allocation Fractions

Using the Contribution Values to Calculate the Allocation Fractions

Using the Contribution Shares to Calculate the Allocation Fractions

Calculating the Allocations

Defining a Decision Criterion

Proof that the Fourth Option Satisfies the Criterion

6. Disbenefits and Essential Links

Allowing for Disbenefits

Essential Contributions

Applying the Concept of Essential Links

Creating an Essential Network

Structured Approach for Removing Nodes

Recalculating the Pruned Network

7. Applying the BRM Approach to the QERTS Example

Analyzing Outcomes and Options: The QERTS Example

Revising the Program

Alternative QERTS Example

Including Disbenefits in the QERTS Example

8. A Generalized Approach to Scheduling and Cash Flow

Background

New View

The New Approach: Characterizing the Components

Toward a Simplified Scheduling Model

Extensions to Other Scheduling Methods

Applying the VEST Approach to Programs

Additional Definitions

Applying the VEST to the QERTS Example

Linking Cash-Flow to the Schedule

9. Total Risk and Issue Management

Background

Overview

Issues.

Risks.

The TRIM Process

Generic versus Specific Risks

10 Resource Capacity Planning

The Challenge

Simple Operations Resourcing Model

Applying the New Model

Implementing the Erlang-Based Approach

Advantages of the Erlang-Based Approach

Planning the Required Organizational Changes

Organizational Change Program

11. Procurement

Background: Innovative Contractor Engagement and the London Underground Bank Station Capacity Upgrade

Tendering Lifecycle

ICE and the Benefits Realization Map (BRM)

Modeling the Value of the Options

The Next Step: Tracking the Work

12. Implementation Tracking—Earned Benefit

The Earned Benefit Approach

The Component–Benefit Matrix

Earned Value

Further Development of the Earned Benefit Calculations

Earned Value and Earned Benefit Case Study

The Earned Benefit System

Earned Value Abbreviations, Parameters, and Indicators

Earned Benefit Abbreviations and Values

Further Analysis of the Garden Services Case

Revisiting Earned Benefit

Applying Earned Benefit for Status Reviews

Communicating the Information

The Benefits of Earned Benefit

Earned Benefit Parameter Tables

13. Business Key Performance Indicators

Setting Key Performance Indicators

Operational KPIs

Agreeing on the Questions

Categories of KPIs

Operational KPIs

Model-Related KPIs

Analyzing the KPIs

Analyzing the Model

Example Based on QERTS Model

14. Stakeholder Analysis

Stakeholder Interest and Power

Mapping the Analysis onto the Model

QERTS Example

From Analysis to Communications

15. Communication—Why, How, and What

Understanding Hierarchies

Addressing Data, Knowledge, Information, and Wisdom

Effective Communications

Information and Communications

The Viable System Approach

Finale. Benefit Mapping the Book

Mapping the Book

The Book’s Strategic Benefits

The Book’s Initiatives

The Book Review Model

Analysis of the Book Review Model

Appendix. Carrying Out the Calculations

Acronyms

Glossary

Bibliography

About the Author

Crispin Piney (known as "Kik") has been involved in the project world since joining the IT Group at CERN, the European Laboratory for Particle Physics, in the 1970s, working on cutting-edge development projects. He later moved to the Digital Equipment Corporation (DEC), initially in England, before relocating to DEC’s European technical centre in the south of France. While he was with DEC, Kik gained a deeper understanding of the importance of methodology, business alignment, and stakeholder relationship management.

After the acquisition of DEC by Compaq, Kik left in 2000 and set up as an independent consultant and trainer in project management. He invested enthusiasm, time, and effort working as a volunteer with the Project Management Institute (PMI®) on the majority of their standardization efforts, from the Organizational Project Development Management Maturity Model (OPM3®) through each the standards for projects, for programs, and for portfolio management (he was listed as a "significant contributor" for the first edition of both the program and the portfolio standards). He also contributed actively to the PMI competency development framework, the lexicon, and the Practice Guide for Scheduling. He is one of the three authors of PMI®’s Practice Guide for Project Risk Management. Kik gained his Project Management Professional (PMP®) certification with PMI prior to leaving DEC. He later became the first person in France to acquire the corresponding certifications for programs (PgMP®) and, when it became available, for portfolios (PfMP®).

He has published a number of articles ranging across all aspects of projects, programs, and portfolios. He has presented at most PMI® EMEA congresses since 2002, as well as at regional events. Additionally, Kik provides training on a wide range of topics in the project management space. He has developed and delivered courses across a broad range of industries including construction, perfumery, information technology, steelworks, aviation, packaging, electronics, and banking. His approach to understanding and expanding the field of knowledge in the area of project, program, and portfolio management is based on the following principles:

  • The need for alignment between all domains in order to ensure consistency
  • The need for clarity and precision in order to avoid misunderstandings
  • The willingness to generalize and expand valid concepts in order to increase their generality and potential value
  • The willingness to reject ideas and beliefs, however well established, that are based on false or doubtful premises, and to discover creative, verifiable alternatives with which to replace them
  • And, finally, the wish to share his enjoyment of the subject and, wherever possible, his sense of fun

About the Series

Best Practices in Portfolio, Program, and Project Management

Learn more…

Subject Categories

BISAC Subject Codes/Headings:
BUS101000
BUSINESS & ECONOMICS / Project Management
COM032000
COMPUTERS / Information Technology
TEC009000
TECHNOLOGY & ENGINEERING / Engineering (General)