Benefits realization management (BRM) is a key part of governance, because it supports the strategic creation of value and provides the correct level of prioritization and executive support to the correct initiatives. Because of its relevance to the governance process, BRM has a strong influence over project success and is a link between strategic planning and strategy execution. This book guides portfolio, program, and project managers through the process of benefits realization management so they can maximize business value. It discusses why and how programs and projects are expected to enable value creation, and it explains the role of BRM in value creation. The book provides a flexible framework for: * Translating business strategy drivers into expected benefits and explains the subsequent composition of a program and project portfolio that can realize expected benefits * Planning the benefits realization expected from programs and projects and then making it happen * Keeping programs and projects on track * Reviewing and evaluating the benefits achieved or expected against the original baselines and the current expectations. To help project, program, and portfolio managers on their BRM journey, as well as to support business managers in executing business strategies, the book identifies key organizational responsibilities and roles involved in BRM practices, and it provides a simple reference that can be mapped against any organizational structure. A detailed and comprehensive case study illustrates each phase of the BRM framework as it links business strategy to project work, benefits, and business value. Each chapter ends with a series questions that provide a BRM self-assessment. The book concludes with a set of templates and detailed instructions to ensure successful deployment of BRM.
PART I Benefits Realization Management and the Creation of Strategic Value to the Business Introduction Making the Case: Relevance of Project Benefits for Business Guide to the Subsequent Chapters End-of-Chapter Review Questions Strategy Execution: Translating Corporate Strategy into Program and Project Strategy Increasing Effectiveness in Strategy Execution and Techniques Strategy Execution: A Journey from Business Strategy to Project Strategy Chapter Summary: Strategy Execution: Translating Corporate Strategy into Program and Project Strategy End-of-Chapter Review Questions Project Success and Creation of Value to the Business Multiple Dimensions of Project Success Delivering Value through Project Management Chapter Summary: Project Success and Creation of Value to the Business End-of-Chapter Review Questions PART II Enterprise Benefits Realization Management (eBRM) Establishing the Environment for Benefit Realization Introduction: Developing and Aligning Strategies Creating or Enhancing the Environment for Effective Key Roles and Responsibilities for Benefits Realization Management Case Study: Benefits Realization Management at ProjectEng Civil Engineering Services Ltd. Chapter Summary: Establishing the Environment for Benefits Realization End-of-Chapter Review Questions Planning Benefits Introduction: Composing Portfolios of Initiatives Translating Business Strategy Drivers into Expected Benefits Composing a Project Portfolio to Realize the Expected Benefits Case Study: Enterprise Benefits Planning Chapter Summary: Planning Benefits End-of-Chapter Review Questions Realizing Benefits Introduction: Delivering Outputs, Business Changes, and Outcomes to Realize Benefits Planning Benefits Realization Enabling the Realization of Strategic Benefits Making Benefits Happen Case Study: Enterprise Benefits Realization Chapter Summary: Realizing Benefits End-of-Chapter Review Questions Reviewing and Evaluating Benefits Introduction: Managing the Ongoing Portfolio of Initiatives Keeping Programs and Projects on Track Reviewing and Evaluating Benefits Case Study: Enterprise Benefits Review and Evaluation Chapter Summary: Reviewing and Evaluating Benefits End-of-Chapter Review Questions Appendices Answers to End-of-Chapter Questions Recommended Further Reading Case Study: Worked Examples Enterprise Benefits Realization Management Toolkit: Blank Templates Enterprise Benefits Realization Management Toolkit: How to Use Guidance References Index
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