Implementing Project and Program Benefit Management
One of the most difficult, yet important, questions regarding projects is "What advantages will this project create for the investors and key stakeholders?" Projects and programs should be treated as investments. This means that the focus of projects shifts from delivering within the triple constraints (time–cost–quality) towards some of the more fundamental questions:
- What is the purpose of this investment?
- What are the specific advantages expected?
- Are these benefits worth the investment?
Implementing Project and Program Benefit Management is written for executives and practitioners within the portfolio, program, and project environment. It guides them through the important work that must be addressed as the investment progresses towards the realization of benefits. The processes discussed cover the strategic elements of benefits realization as well as the more detailed requirements, which are the domain of the program delivery teams and the operational users. Using real cases to explain complex situations, operational teams and wider groups of stakeholders, including communities affected by infrastructure projects, will be able to engage in the conversation with the sponsors and delivery teams.
Covering an area of program and project management that is rapidly becoming more widely valued, this book blends theory with practical experience to present a clear process flow to managing the benefits life cycle. Best practices are defined, and pitfalls and traps are identified to enable practitioners to apply rigor and structure to this crucial discipline.
Part I. Establishing the Language. 1. What Are Benefits and Why Are They Important? 2. Definitions and Terminology. 3. Team Roles and Responsibilities. Part II. The Benefits Life Cycle. 4. Introduction to the Benefits Life Cycle. 5. Establish the Context. 6. Identify the Benefits. 7. Assess the Benefits. 8. Plan for Benefits Realization. 9. Coordinate and Realize the Benefits. 10. Review the Initiative. 11. Embedding Benefits Realization Management. Appendix I. Documentation. Appendix II. Summary of Cognitive Biases Impacting Benefits Realization Management. Abbreviations and Acronyms. References. .