About the ProgramAll organisations aim to ensure that the outputs created from change initiatives, such as projects, programmes or portfolios, actually create lasting value. The benefits of strategic projects and change initiatives don’t just get realised automatically from installing an output. In fact, benefits from programmes and projects (reduced spend, increased revenue, measurable contribution to a strategic objective, reduction of risk) are often not realised unless they, and the required business changes, are proactively managed during and post-initiative closure.
By understanding more about the process of benefit realisation, how it overlays the improvement process and the ways in which organisations account for their operations, you will be able to have more constructive discussions and clearer visibility as to how your improvement activities are contributing to the overall goals of your organisation. That is the focus of this two-day Masterclass that adopts a ‘Problems, Causes, Solutions’ approach, that digs under the standard techniques of cost/benefit appraisal, benefits mapping and tracking, to address the underlying causes of the failure to realise the full potential benefits from projects and programs. The Masterclass is delivered with highly stimulating and interactive facilitation using practical examples and the delegates’ own real-life experiences and challenges.
Who Should AttendAnyone with an interest in, and commitment to, improving the realisation of benefits from change. These include: chief executives and board members, portfolio, programme and project professionals, business change and benefits realisation managers, operational management and finance staff with a responsibility for investment appraisals and portfolio prioritisation. No previous knowledge of benefits management is required – other than a commitment to making a difference.
What You Will LearnAt the end of this program, you will be able to:
- Understand the principles, framework, and practices to effectively manage benefits from identification to realisation
- Explore common pitfalls of managing and realising benefits including understanding the biases when measuring benefits
- Gain insight into the latest thinking and the results of research into what really works in realising benefits, along with an understanding of how to apply practical tools, techniques, and practices that have been shown to work in a variety of organisations.
- Distinguish between benefit and measurable change
- Allow for appropriate responsibilities and accountabilities to be assigned
Course OverviewDay 1- Getting Started (introductions)
- What is benefits management?
- What are the core principles that underpin benefits management?
- The Benefits Management Cycle
- Identify and quantify benefits
- Value and appraise benefits
- Apply key planning techniques to maximize benefits
Day 2- The Benefit’s Management Cycle (continued)
- How to realize your benefits through transition and change management - Apply key review techniques on benefits management practices
- Why is it important to manage benefits at the portfolio level?
- Successfully plan for the implementation or sustaining of maturity progress.
- Summary and next steps
