Benefits Realization Benefits Realization

Benefits Realization - PowerPoint Presentation

pamella-moone . @pamella-moone
Uploaded On 2019-11-07

Benefits Realization - PPT Presentation

Benefits Realization Creating Value vs Triple Constraint wwwwmpmiorg Agenda Introductions Mission and Vision Strategic Objectives Realizing Benefits Lets have a collaborative discussion ID: 764329

benefits project management business project benefits business management mission vision objectives strategic statements guide request benefit blasphemy lasting measures




Download Presentation from below link

Download Presentation The PPT/PDF document "Benefits Realization" is the property of its rightful owner. Permission is granted to download and print the materials on this web site for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.

Presentation Transcript

Benefits Realization Creating Value vs. Triple Constraintwww.wmpmi.org

Agenda IntroductionsMission and Vision Strategic Objectives Realizing Benefits Let’s have a collaborative discussionDon’t present, persuade!

Medical Informatics Engineering, CSO & PMO STAR Financial Bank, ISO & PMO Lincoln Financial Group, IT Audit Manager and PMO Director PMI-NEIC Treasurer, President, Past-President and Region 2 Liaison InfraGard, ISSA, ISACA, IIA Mike Krouse PMP , CISA, CGEIT, CRISC, CRMA, FLMI

Who I am… really

Business Value Business value is a concept that is unique to each organizationValue may be created through the effective management of ongoing operationsHowever, through the use of PPPM, organizations will possess the ability to employ reliable, established processes to meet strategic objectives and obtain greater business value from project investments ©2013 Project Management Institute: A Guide to the Project Management Body of Knowledge (PMBOK® Guide) – Fifth Edition, Page 15

Business Value Chain

Mission and Vision Statements Our new 10-year sustainability strategy, Earthright , begins with three principles: positive transparency, products as living things, and becoming greener together. We have sharpened our goals around the smart use of resources, eco-inspired design, and becoming community driven. Most importantly, we are finding new ways to involve more employees, suppliers, and customers. Herman Miller

Mission and Vision Statements At Gordon Food Service, Customer is King and our purpose is to serve our customers with the highest-quality food service products and services. To do this, Gordon Food Service is guided by hard work, innovation, compassion, spirit, integrity of our people and a deep commitment to what we call our "Cornerstone Values." 

Mission and Vision Statements Delivering high-quality care and ensuring the safety of our patients, employees and providers is integral to our mission at Spectrum Health: to improve the health of the communities we serve.

Mission and Vision Statements Do your companies have mission and vision statements? Do you know what they are?

Strategic Objectives - Examples Increase Market ShareStrengthen Financial ResourcesBoost Productivity Optimize Innovation Enhance Community Involvement

Strategic Objectives A broadly defined objective that an organization must achieve to make its strategy succeed.Strategic objectives are used to operationalize the mission statement and keep the organization on the path towards the vision statement.

PPPM Success by Component ©2013 Project Management Institute: A Guide to the Project Management Body of Knowledge (PMBOK® Guide) – Fifth Edition, Page 8 Table 1-1. Comparative Overview of Project, Program, and Portfolio Management

Project Management “Controlled disruption for meaningful change”


Blasphemy Uncle Buck Stephen A. Smith – ESPN talk show host and analyst

Blasphemy Realizing benefits is the pinnacle of a successful project Benefits Realization

PM Network Gary R Heerkens, MBA, CBM, PMP Lasting Measures (July 2012) Longer Lasting Measures (October 2012)Generating Value (December 2014) © Project Management Institute

Generating Value Which is better?A project that runs on time and budget and meets it objectives OR A project that runs late and is over budget but overachieves on cost savings that have a “change-for-life” impact?

Lasting Measures Imagine you just invested some of your own money in a variety of personal investments based on criteria you developed. What is one of the first things you would do?

Longer Lasting Measures What benefits should be measured and tracked? Who shouldn’t – and should – do the measuring? When should measurement take place?What challenges exist in getting reliable data?

Process Groups Initiating Planning Monitoring and Controlling Executing Closing

Process Groups and Benefits Initiating Planning Monitoring and Controlling Executing Closing Business Case Change Request BR Template CBA Time Report Invoices

BR Template We discussed the scenario of achieving outrageous benefits, but violating the triple constraint. Let’s look at the other side of the coin…PM’s need to track internal organizational changes and external influences that may erode expected benefits. If benefits are diminishing, should the project be shutdown even if complying with triple constraint?

Process Groups and Benefit Feedback Initiating Planning Monitoring and Controlling Executing Closing Benefits Tracking Improve Benefit Forecasts



BR Resources – During Project Business CaseCBAChange Request Benefit Tracking Template PPM ToolTime TrackingGeneral LedgerExpense Tracking (HW, SW, Materials )

Business Case Benefits:Should align with strategic initiatives What are the expected benefits? For example, increased market share, trained employees, reduced headcount, competitive advantage, regulatory compliance, etc.The benefits must be stated so they can be measured according to a realization schedule.

Change Request Benefit Explain how this change request augments, creates or destroys business value.

BR Resources – After Project Turnover to Independent GroupPMO, Finance - ?General Ledger