Strategic Benefits Realization-0

Strategic Benefits Realization

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Optimizing Value through Programs, Portfolios and Organizational Change Management
By Craig Letavec, PgMP, MSP, PMP
Hardcover, 6×9, 312 pages
ISBN: 978-1-60427-093-8
February 2014

LEARN & EARN: Get 6.2 PDUs in the PMI skill areas of Technical, Leadership, or Strategic and Business Management Skills

SKU: 978-1-60427-093-8 Categories: , ,

Description

This desk reference offers practical guidance for program managers, portfolio managers, and business leaders in the implementation of benefits realization management in organizations.  Aligned with global standards, this book extends the knowledge contained in these standards through practical implementation guidance, examples, and additional detail created to assist organizations in implementing benefits realization management as a business practice to support the achievement of strategic business benefits.

It also addresses important considerations in organizational change management, providing insights on leveraging key principles to guide successful implementation of the business change required to realize benefits through project and program work. Leveraging benefits realization management at the business portfolio level is covered as well. This book is ideal for organizations beginning to implement benefits realization management and those that wish to mature existing practices.

Strategic Benefits Realization provides a practical approach to implementing benefits realization management in organizations that is aligned to PMI’s Standard for Program Management and other global standards, and is presented in the context of program and portfolio management. The guidance offered supports effective governance and execution management to deliver business value.

Key Features

  • Provides guidance for organizations seeking to implement benefits realization management principles within both project and program management environments
  • Describes the complete benefits realization life cycle from initial business case development and benefits identification through transition and preparation for sustaining benefits
  • Reviews organizational change management principles and supplies practical guidance for leading business change
  • Details critical benefits realization management roles and offers advice for selecting key leaders
  • Focuses on the establishment of key performance indicators and measurement systems to quantitatively manage benefits realization
  • Explains the role of governance in benefits realization management and provides guidance for program management offices and governance bodies for effectively supporting benefits realization management in organizations
  • Includes a focus on the application of benefits realization management at the portfolio level
  • Aligned with global program management standards including the Project Management Institute’s Standard for Program Management
  • WAV offers downloadable sample tools and templates to support implementation — available from the Web Added Value™ Download Resource Center at www.jrosspub.com

About the author(s)

Craig Letavec, PMP, PgMP, is an internationally recognized expert in program management and program management offices.  His professional experience includes leading large-scale business change programs with a focus on business benefits realization, implementing program management offices, and leading efforts to mature project, program, and portfolio management practices in organizations.  As a published author, Craig’s works include The Program Management Office: Establishing, Managing, and Growing the Value of a PMO and The PMOSIG Program Management Office Handbook.  Craig is a noted speaker and the founder and past conference chair of the PMO Symposium.  He holds a Master of Science degree in Project Management from George Washington University. 

Table of Contents

Chapter 1: Introduction to Benefits Realization Management
What Is a Benefit?
Where Do Benefits Come From?
Characteristics of Benefits
Intermediate and End Benefits
Disbenefits
Emergent Benefits
Tangible and Intangible Benefits
Time Bound Benefits
What Is Benefits Realization Management?
Benefits Identification
Benefits Analysis and Planning
Benefits Delivery
Benefits Transition
Benefits Sustainment

Chapter 2: Benefits Realization Management in the Project, Program, and Portfolio Contexts
Distinguishing between Projects and Programs
Understanding Portfolio Management
Projects, Programs, and Portfolios Together

Chapter 3: Benefits Realization Management Roles and Responsibilities
Primary Roles
Program Manager
Senior Responsible Owner
Business Change Manager
Program Management Team
Effort Allocation to Primary Roles
Supporting Roles
Benefit Owner
Program Office
Program Management Office
Portfolio Management Office

Chapter 4: A Benefits Realization Management Life Cycle
Benefits Realization Management in the Program Life Cycle
Benefits Identification
Benefits Analysis and Planning
Benefits Delivery
Benefits Transition
Benefits Sustainment
Relationship between the Benefits Realization Management Life Cycle and Associated Life Cycles
Relationship to the Program Management Life Cycle
Relationship to the Portfolio Management Life Cycle
Relationship to the Project Management Life Cycle
Relationship to Organizational Project Management Processes

Chapter 5: Benefits Identification
Beginning with the End in Mind
Benefits Identification
Tools and Techniques for Benefits Identification
Benefits Register
Benefit Profile
Benefits Workshop
Benefits Brainstorming
Benefits Map
Benefits Quantification
Baseline Performance
Determine Improvement Potential
Validate Benefits

Chapter 6: Benefits Analysis and Planning
The Benefits Realization Plan
Component Identification and Prioritization
A Note on Interdependencies
Establishing Measurement and Monitoring
Types of Measures
Measure Development Example
The Measurement Plan
Characteristics of Good Measures
Setting the Performance Baseline
Communicating Performance

Chapter 7: Benefits Delivery
Maintaining Benefits Alignment
Benefits Tracking and Reporting in Benefits Delivery
Benefit Realization Management Reviews
Benefits Reviews
Managing Work and Interdependencies
Benefits Monitoring
Risk Management Activities

Chapter 8: Benefits Transition
Determining Transition Scope
Determining Transition Success
Required Transition Activities
Transition Planning
Transition Initiation
Transition Management
Transition Review
Benefits Validation
Benefits Realization Reporting
Developing a Transition Plan
Overview
Transition Planning
Transition Delivery
Benefits Delivery
Transition Approval
Managing Transition Issues

Chapter 9: Benefits Sustainment
Benefits Sustainment Planning
Performance Monitoring Planning
Benefits Sustainment Monitoring
Supporting Benefits Sustainment
Evolving Products, Services, and Results

Chapter 10: Descriptions for Primary Benefits Realization Management Roles
Benefit Owners
What Does a Benefit Owner Do?
How Do Benefit Owners Fit within the Benefits Realization
Management and Program Context?
Where Do Benefit Owners Come From?
What Skills Are Required?
How Can Benefit Owners Best Support Benefits Realization Management?
What Are Potential Traps to Avoid?
Senior Responsible Owner
What Does the Senior Responsible Owner Do?
How Does the Senior Responsible Owner Fit within the Benefits Realization Management and Program Context?
Where Does the Senior Responsible Owner Come From?
What Skills Are Required?
How Can the Senior Responsible Owner Best Support Benefits Realization Management?
What Are Potential Traps to Avoid?
Business Change Manager
What Does the Business Change Manager Do?
How Does the Business Change Manager Fit within the Benefits Realization Management and Program Context?
Where Does the Business Change Manager Come From?
What Skills Are Required?
How Can the Business Change Manager Best Support Benefits Realization Management?
What Are Potential Traps to Avoid?

Chapter 11: Organizational Change Management in the Benefits Realization Management Context
The Fundamental Concept of Organizational Change Management
The Notion of Movement
Who Are We Impacting?
How Do We Manage Change?
Minimizing Disruption
Maximizing Benefits
Change Management Roles
Business Change Manager
Benefit Owners
Change Agents
Champions
Management
Relationships between Roles
An Organizational Change Management Life Cycle
Define Change Drivers
Define Change
Plan Change
Execute Change and Monitor Results
Perform Transition
Support Sustainment
Organizational Change Management Life Cycle Summary

Chapter 12: Benefits Realization Management in the Portfolio Management Context
The Role of the Portfolio Manager in Benefits Realization Management
Prerequisites to Portfolio Management for Benefits Realization Management
Portfolio Selection Impacts
Portfolio Reporting and Review Impacts
Portfolio Reporting
Portfolio Review
Benefits Considerations in Portfolio Risk Management
Assessing the Application of Benefits Realization Management on the Portfolio Level
Portfolio Management Considerations in Benefits Realization Management Implementations
Applying Benefits Realization Management in Portfolio Management Implementations

Chapter 13: Benefits Realization Management in Project-based Organizations
General Implementation Approach
Prerequisites
Benefits Realization Management Considerations in the Project
Context
Structuring the Team
Selecting Pilot Scope
Implementation Considerations
Confirming Pilot Scope
Selecting Benefits Scope
Educating People
Monitoring Progress
Establishing Reporting
Concluding and Validating Success

Chapter 14: Program Management Office Role in Supporting Benefits Realization Management
Types of PMOs and Their Involvement in Benefits Realization Management
Enterprise Program Management Office
Portfolio Management Office
Project Office
Center of Excellence
Organizational Unit Program Management Office
Other PMO Types
Determining an Approach
Keys to Success
Case Study Example

Chapter 15: Business Case Considerations
Business Case Overview
Relationship between the Business Case and Benefits Realization Management
Business Case Structure
Executive Summary
Business Challenge or Opportunity
Alternatives
Financial Analysis
Risk Analysis
Recommendation
Future State Blueprint
Project or Program Overview
Who Develops and Validates the Business Case?
Business Case Review and Evolution
Business Case During Project or Program Execution

Chapter 16: Practical Guidance for Implementing Benefits Realization Management

#1 — #10 Practices

Appendix A: Case Study—A PMO Role in Benefits Realization Management
Brief History of PMOs
Case Study
Program Description
Results
Benefits Realized and Lessons Learned
PMO Model
Role 1: Information Broker
Role 2: Work Manager
Role 3: Benefits Manager
Model Application in General
Model Application in Case Study

Appendix B: Sample PgMP® Examination Questions
Sample Questions
Answers to Sample Questions

Reviews

“Strategic Benefits Realization never loses focus on the ultimate goal of any organization—to achieve business benefits that endure. Craig Letavec’s common sense approach and practical guidance can be applied throughout the entire benefits realization life cycle to ensure true business value from project investments. Business and project professionals can apply the author’s business-focused techniques immediately—a must read in today’s highly competitive global marketplace.”

—Marc Resch, President, Resch Group, and best-selling author

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