Implementing Project and Program Benefit Management

Kenn Dolan

Publisher: CRC, 2019, 272 pages

ISBN: 978-1-03-247591-2

Keywords: Benefit Management, Program Management, Project Management

Last modified: March 29, 2024, 1:23 a.m.

Synopsis

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

Table of Contents

  • Part One: Establishing the Language
    1. What Are Benefits and Why Are They Important?
      1. What Are Benefits?
        1. Characteristics of Benefits
        2. Why Are Benefits Important?
      2. Benefits realization Management
      3. Categorization of Benefits
        1. Financial and Nonfinancial Benefits
        2. Triple Bottom Line
        3. Efficiency and Effectiveness Factors
        4. Tangible and Intangible Benefits
      4. Stakeholders and Benefits
      5. Changing the Conversation
      • Exercises and Activities
    2. Definitions and Terminology
      1. Project
      2. Program
      3. Portfolio
      4. Initiative
      5. Progressive Elaboration
      6. Pathway to Benefits
        1. Output
        2. Capability
        3. Outcome
        4. Intermediate Benefits
        5. Emergent Benefits
        6. Dis-Benefits
        7. Benefits
      7. Transition Period
      8. Transition Activities
      9. Baseline
      10. Operational Environment
      11. Business as Usual
      12. Gateways
      13. Benefits Reviews
      14. Fiscal Year (or Financial Year)
      15. Front-End Loading
      16. Return on Investment
      17. Benefit Cost Analysis
        1. Payback Period
        2. Net Present Value
        3. Benefit — Cost Ratio
      18. Diagrammatic Methods
        1. Benefit Map
        2. Dependency Network
      19. Documentation
        1. Benefit Management Strategy
        2. Benefit Profile
        3. Benefits Register
        4. Business Case
        5. Benefit Realization Plan
        6. Program Plan
        7. Transition Plan
        8. Sustainment Plan
        9. Review Report
        10. Benefits Closure Report
      20. Summary
      • Exercises and Activities
    3. Team Roles and Responsibilities
      1. Sponsoring Groups
      2. Sponsor
      3. Program Manager
      4. Project Manager
      5. Program/Project Management Office (PgMO/PMO)
      6. Project Office
      7. Program Office
      8. Business Change Manager (BCM)
      9. Change Team
      10. Benefit Manager/Owner
      11. Assurance Roles
      12. Governance Roles
      13. Specialist Support Roles
      14. Additional Considerations
      15. Summary
      • Exercises and Activities
  • Part Two: The Benefits Life Cycle
    1. Introduction to the Benefits Life Cycle
    2. Establishing the Context
      1. Drivers for Programs and Investments
        1. PESTLE
        2. Triple Bottom Line
      2. Other Program Types
        1. Strategic Initiatives
        2. Evolving Initiatives
        3. Compliance Initiatives
        4. Technology-Driven Initiatives
      3. Recognizing the Stakeholders' Perspectives
        1. Getting to Know the Stakeholders
      4. Documentation
        1. Benefits Management Strategy
      5. Summary
      • Exercises and Activities
    3. Identify the Benefits
      1. Getting Out to a Bad Start…
      2. Begin with the End in Mind
      3. Diagramming Techniques
        1. Benefit Mapping
        2. Benefits Dependency Network
        3. Benefits Dependency Map
        4. Benefits Logic Map
        5. Applying These Methods
      4. Identifying the Right Benefits
      5. Who Identifies the Benefits?
      6. Documentation
        1. Benefit Profile
        2. Benefits Register
        3. Benefits Map (or Other Diagrammatic Representation)
      7. Summary
      • Exercises and Activities
    4. Assess the Benefits
      1. Quantifying
        1. Cognitive Bias — Some of the Traps
        2. Combatting the Biases
        3. Calculating the Value of Benefits
      2. Assessing
      3. Documentation
        1. Benefit Profile
        2. Benefits Realization Strategy
        3. Business Case (Initial)
        4. Benefits Register
      4. Reviewing and Decisions
        1. Initial Business Case Document
        2. Assurance
        3. Independent Review
        4. Learning Lessons
      5. Summary
      • Exercises and Activities
    5. Plan for Benefits Realization
      1. Who Needs to Be Involved in Planning Benefits
      2. The Planning Regime for a Benefit Life Cycle
        1. Project Planning
        2. Transition Planning
        3. Post-Transition — After the Outcome Has Been Realized
      3. Planning for Benefits
        1. Early Wins
      4. Documentation
        1. Program Plan
        2. Benefit Realization Plan
        3. Transition Plan
        4. Sustainment Plan
      5. Summary
      • Exercises and Activities
    6. Coordinate and Realize the Benefits
      1. Pre-Transition
        1. Changes to the Project
        2. Scope Changes
        3. Schedule Changes
        4. Training
        5. Communications
        6. Baseline
      2. Transition
        1. Induction
        2. Training
        3. Reinforcement
        4. Outcome
      3. Post-Transition
        1. Stepping Stones
        2. Minor Adjustments
        3. Reinforcement
        4. Measuring Benefits
        5. Decommissioning Obsolete Systems
      4. Sustainment
      5. A Case Study
        1. Pre-Transition
        2. Transition
        3. Post-Transition
      6. Documentation
      7. Summary
      • Exercises and Activities
    7. Review the Initiative
      1. Addressing Failure to Meet Benefits Targets
      2. Managing Emergent Benefits
      3. Revisiting Planning
      4. Closure
      5. Documentation
        1. Review Report
        2. Benefits Closure Report
      6. Summary
      • Exercises and Activities
  • Part Three: Embedding the Practices
    1. Embedding Benefits Realization Management into Organizations
      1. Change the Conversation
      2. Enforce the Development of Benefit Profiles
      3. Apply Successful Delivery Mechanisms
      4. Integrate BRM with Existing Organizational Processes
      5. Induct All Stakeholders
      6. Establish a Single Sponsoring Group
      7. Focus on the Significant Benefits
      8. Substantiate the Attribution of Benefits
      9. Test the Legitimacy of Benefits
      10. Beware "Double Dipping"
      11. Apply a Model for Change
      12. Be SMART
      13. Engage Stakeholders
      14. Conduct Independent Assurance and Reviews
      15. Create Champions
      16. Summary
      • Exercises and Activities
  • Appendix I: Documentation
  • Appendix II: Summary of Cognitive Biases Impacting Benefits Realization Management