PPM Bulletin – Benefits Management

A billion here, a billion there, and pretty soon you are talking big money – – – Everett M. Dirksen
This bulletin focuses on the increasingly topical Benefits Management. For many organisations this has always been one of those “important” but not “urgent” issues which they never quite get around to.
Despite much talk and rhetoric about it’s importance, our work in undertaking P3M3 maturity reviews of organisations has shown that only a small minority manage to even make it above Level 1. There are many reasons for this, but lack of any structured guidance or frameworks is the number one reason which means all benefits management activity is likely to be ad-hoc at best. KPMG in 2005 concluded that less than 20% of projects deliver their benefits, shocking but probably a reality still.
Contrast that with Finance Management which normally scores close to a Level 3 in maturity which is reflecting it’s importance, most organisations have a Finance Director, none (as far as we know) have a Benefits Delivery Director
As the reality of the new economic policies are hitting our customers, one of the few courses that is selling really well is Benefits Management, because it is now becoming essential that organisations understand how their benefits will be realised and what they are worth – this is the only way they will be able to justify the continuation of their initiatives. We are also working on two Benefits Management Framework assignments.
William Cowper was once quoted as saying – “Absence of proof is not proof of absence”, which is quite a sobering thought in this context, you are probably delivering benefits, but not the ones that were described or even wanted, whilst the one’s we promised have slipped into obscurity.
One of the big challenges is how to categorise benefits and then measure them. To help with this we have captured our current ideas and those of the other thought leaders into this article that we hope will prove really useful , MSP Sound Bites – Benefits Categorisation
We can also offer you one of our podcasts, this bulletin we have Rod Sowde, the MSP lead author talking about benefits management in a MSP environment
We can also offer an in-house Benefits Management course for organisations that want to start the journey to improvement and enjoy facilitation from some of the thought leaders in this area.

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