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Project management
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1
EuroProjex [email protected]© jrt/mcbp/feb06
EuroProjex
Project and Programme Management
Session 1.2 – Benefits management
Professor J Rodney TurnerProfessor of Project Management
SKEMA Business School
EuroProjex [email protected]© jrt/mcbp/feb06
2
EuroProjex [email protected]© jrt/mcbp/feb06
Benefits management
Mapping benefitsBenefits management process
Exercises
EuroProjex [email protected]© jrt/mcbp/feb06
Projects for performance improvement
Exploitation
Implementation
Resources Project Outputs
Outcomes
Goals
Benefit
Improvedperformance
OperationDo the right project
Do the projects right
3
EuroProjex [email protected]© jrt/mcbp/feb06
Benefits definition and delivery
GoalValue
Problem 1
Problem 2
Problem 3
NewAsset
Capability1
Capability3
Capability2
Benefits Definition - SponsorCapability DefinitionSteward
Capability DeliveryProject Manager
Benefits Delivery – Owner/or Business Change Manager
The Project Manager’s responsibility ends here
Step13
Step11
Step12
Step21
Step23
Step22
EuroProjex [email protected]© jrt/mcbp/feb06
Benefit modelling
Output Outcome Goal
Fewerqueries
Reducedphone calls
Lessadvertising
Web-basedcustomer
information
Web-basedservice
information
Web-basedtransactions
Reducedexpenditure
Bettermarketimage
Betterquality
information
One stopinformationcollection
4
EuroProjex [email protected]© jrt/mcbp/feb06
Mapping benefits
NewAsset
CapabilitiesEnablers
IntermediateBenefit
Problem Solved
GoalAchieved
EuroProjex [email protected]© jrt/mcbp/feb06
Benefits waterfall
NewAssets
NewCapabilities
Outcomes &Benefit
SolvedProblem Solved
GoalAchieved
ProjectOutputs
ProgramBlueprint
ProgramVision
IdentifiedProblem
Identified
Context
Deliver
Enable
Contribute
Delivers
Details
Mandate
specifies
describes
satisfies
5
EuroProjex [email protected]© jrt/mcbp/feb06
Benefits management
Mapping benefitsBenefits management process
Exercises
EuroProjex [email protected]© jrt/mcbp/feb06
Realizing benefits through change
Programme ChangeDesired
OutcomesBenefits
Side-effects Dis-benefits
6
EuroProjex [email protected]© jrt/mcbp/feb06
Objectives of benefits management
Benefits clearly identified and defined Business areas committed to benefits
encourage ownership responsibility for adding value
Manage benefit realization Keep benefits realistic Benefits realization tracked and coded
achievements recognized Alignment of programme, vision, outcomes,
company’s strategic objectives
EuroProjex [email protected]© jrt/mcbp/feb06
Benefit management process
DesiredOutcomes
Benefits managementstrategy
Identify & modelbenefits
Quantify benefits& optimize mix
Plan for benefits realization
Identify additionalbenefit opportunities
Benefits review Benefits realization
7
EuroProjex [email protected]© jrt/mcbp/feb06
Benefit management strategy
DesiredOutcomes
Benefits managementstrategy
EuroProjex [email protected]© jrt/mcbp/feb06
Benefit management strategy
Outline description of benefits Model of benefits showing interdependence Description of functions, roles, responsibilities
for benefit planning and realization Assessment process for measuring benefit
realization
8
EuroProjex [email protected]© jrt/mcbp/feb06
Checking the strategy
Benefits match desired outcomes Relevant stakeholders engaged Organization has capability and capacity to
deliver strategy Appropriate accountabilities, responsibilities
allocated Is the strategy integral with related strategies
other programmes, operations, marketing ……
EuroProjex [email protected]© jrt/mcbp/feb06
Benefit management process
DesiredOutcomes
Benefits managementstrategy
Identify & modelbenefits
Quantify benefits& optimize mix
Plan for benefits realization
9
EuroProjex [email protected]© jrt/mcbp/feb06
Identifying benefits
Benefits modelling measurable controllable
Identify dis-benefits not all outcomes will be desirable
Assign ownership identify senior manager to take ownership of each
outcome delegated from sponsor linked to performance targets
EuroProjex [email protected]© jrt/mcbp/feb06
Benefit profile
Document describing description of benefit interdependence with others when it will occur project that will deliver measure for realization key performance indicators changes required to business processes costs associated with achieving it dependencies and risks associated with it person responsible for realization
10
EuroProjex [email protected]© jrt/mcbp/feb06
Benefit management process
DesiredOutcomes
Benefits managementstrategy
Identify & modelbenefits
Quantify benefits& optimize mix
Plan for benefits realization
Identify additionalbenefit opportunities
Benefits review Benefits realization
EuroProjex [email protected]© jrt/mcbp/feb06
Objectives of benefits review
Update benefit profiles and realization plan planned benefits remain achievable
Benefits remain aligned with programme objectives repriotize and realign if necessary help identify potential future benefits
Assess levels of benefits achieved Review effectiveness of benefits management
improve methods improve organization's capability
11
EuroProjex [email protected]© jrt/mcbp/feb06
Benefits management
Mapping benefitsBenefits management process
Exercises
EuroProjex [email protected]© jrt/mcbp/feb06
Exercise 1
For one of the two case studies Ockham Day Care Centre TriMagi Intranet
Identify the desired performance improvement the components of the new asset that will deliver
that performance improvement
12
EuroProjex [email protected]© jrt/mcbp/feb06
Exercise
For your case study Ockham Day Care Centre TriMagi Intranet
Draw a benefits map
EuroProjex [email protected]© jrt/mcbp/feb06
For Friday
In your teams to read one of the strategy case studies 1,2 – Aerospace 3,4 – Finance 5,6 – Pharma 7,8 - Transport
Answer the following questions: How does the company operationalise the
components of moving from corporate strategy to project strategy.