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Benefits realization is the only reason for choosing to invest resources to deliver a project. Your PMO needs to have processes, policy and systems available to its stakeholders and project managers.
The PMO is ultimately responsible for ensuring benefits and outcomes are delivered and executives the information to make informed decisions (including halting projects that are failing to deliver on their promises.
The majority projects or programme are launched in order to deliver some form of outcome or capability. However many programmes or PMO’s continue to focus on delivering the project to agreed scope without keeping track of the promises (benefits) made in the business case.
So to avoid the risk of benefits not being realizing we should re-think how the PMO (or programme) office supports projects
The business case is the primary artefact that supports decision-making for an investment. It considers alternative solutions and identifies assumptions, benefits, costs and risks.
However, even with good benefits planning this document can get lost once the project starts. Additionally, good governance is required to ensure benefit owners continue to be accounting for delivery of outcomes beyond the project.
Therefore, the PMO needs to ensure that the delivery of benefits is tracked, and the benefits plan is a core component of the overall project plan.
Measures & Benefits Tracking
The critical benefit measures should be included in the business case, and your PMO (or programme) office should ensure that tools and processes are in place to capture the status during the project.
Risk, Issues and Change
Ensure that your project registers and processes carefully consider the impact on benefits.
For example, as risks materialise, or change the benefit plan also needs to reflect the status of benefits identified during the business case.
Contact Ascenza about our Benefits Readiness Assessment
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