A key benefit of a Method Grid account is the Method Grid Store – a growing collection of free grids that cover a number of common, repeatable business situations and practice areas. This week sees an update to our project and program management (PPM) grid – bringing the Benefits Management theme up to date (with related guidance and control elements).
In this latest update, we have added a benefits management theme to the PPM framework.
As seasoned project and program managers will know, the fundamental reason for undertaking any project or program is to realise benefits for the recipient organisation. Unfortunately, experience suggests that projects and programs, whilst delivering change, often fail to deliver the business benefits they set out to achieve.
This latest addition to our project and program management (PPM) grid outlines the basis for a simple benefits management process: to help ensure that projects and programmes, managed through such a framework, succeed in delivering the benefits set out in the business case.
Per the overall grid, our content is aligned to such established standards as PRINCE2 and Managing Successful Programmes (MSP). Even if you are unfamiliar with such standards, the guidance talks to accepted tenets of benefits management “best practice”:
- To provide alignment and clear links between the Program/Project, its vision and the desired outcomes;
- To identify the wider impact of any changed capability including side effects, and dis-benefits;
- To ensure benefit realisation is tracked and documented so achievements are properly identified and recognised; and
- To encourage ownership amongst the stakeholders for specific aspects of the program in order to add value through the benefits realisation process.
Our new theme provides a detailed c.18 page guidance document on this aspect and five detailed control “elements” that can be harnessed during the life-cycle of a program/project. These control elements include detailed guidance and templates for: a benefits management strategy, benefits profiles and a benefits realisation plan.