Many people do not fully understand benefits, see them as a side-activity unconnected to the main activities of project, programme or change management – or just do not consider them at all.
Benefits management is not an activity, it is a mind-set. Described as ‘the golden thread’ from business case to business as usual, benefits are the reason we invest in doing things differently.
In this interactive session, PMO Flashmobbers will learn what benefits are, how they are identified and begin to develop an understanding of the part we all play in realising them. Attendees will learn, through practical exercises, how to use tools such as the Dellar Success Case to start shifting your mindset to a benefits one.
Carry on reading and listen to the full recorded session PLUS a full breakdown of the practical exercise:
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In this session we take a look at one of the main challenge areas for PMOs right now - how to support the benefits management process.
It was an interactive session to help us really understand what the challenge is - and what the PMO can do to overcome the issues and really support their organisations going forward.
Sign in to read more about what the common hurdles are to overcome and how PMOs are doing just that.
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In this session, we take a closer look at benefits management and benefits realisation.
Just what are the expectations of the PMO when it comes to benefits management? How do we prioritise? Should we be reporting it, and if so what?
Or is there a case for the PMO not supporting benefits management? Would it make that much difference?
We were joined by Subash Tavares, the Founder and MD of thevirtualpmo, who talks about the realities of benefits management and the role of the PMO – sharing his experiences from Thames Tideway, Lower Thames Crossing, TfL Major Projects Directorate and other major programmes. He also covered what, how and why we in the PMO need to be at the core of benefits realisation.
This session also featured our first attempt at a debate - find out how we got on and what we learnt.
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Organisations have been continuously seeking ways to increase the effectiveness and efficiency of their programme and project delivery processes in order to achieve higher return on investment.
PMOs have increasingly played a key role in this trend mostly by ensuring the correct utilisation of project management best practices and by supporting the programme and project delivery processes.
In this scenario, PMOs play a significant role in supporting the utilisation of benefits realisation management practices to ensure programmes and projects maximising the creation of strategic value to the business.
The presentation will focus on some key areas where the PMO can support effective benefits realisation and what many organisations are still finding challenging, which are benefits definition and benefits tracking. The key organisational roles and responsibilities to enable effective benefits realisation will also be discussed as well as the key challenges that organisations face to have benefits realisation management implemented on organisational level.
Takeaways:
How to define a benefit
How to track benefits realisation
What are the key organisational roles for creation of organisational value through effective Benefits Realisation Management
The Video
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In the final session from the PMO Lab, we're looking at metrics and measures that ultimately help to drive executive and business decisions. The PMO's objective as a function which enables decision-making encompasses many areas. It could be the physical mechanisms that would allow decisions to be made, for example, producing reports, updating dashboards and so on. It can mean helping to create an environment where decisions and approvals can flow - the governance side. Even the more behavioural side of decision-making and ensuring staff are well-trained in communications, influence and negotiation.
We also cover the final two sessions which looked at PPM tools and the PMO business case benefits.
First up, business decisions and the lab rats concentrated on the PMO as a portfolio management office and how it can help drive executive business decisions. No other reason, other than they can!
Let's see what they undercovered:
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“Benefits Management has been on the ‘too hard’ pile in many organisations for a long time. However, PMOs are now being asked to support, or even drive its implementation. Needless to say, developing a Benefits Management process and adding it into the project management repository is not sufficient.
This session provides an insight into some of the considerations and challenges you may face in your PMO when implementing Benefits Management into a project, programme or portfolio environment.
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Many people do not fully understand benefits, see them as a side-activity unconnected to the main activities of project, programme or change management – or just do not consider them at all.
Benefits management is not an activity, it is a mind-set. Described as ‘the golden thread’ from business case to business as usual, benefits are the reason we invest in doing things differently.
In this interactive session, PMO Flashmobbers will learn what benefits are, how they are identified and begin to develop an understanding of the part we all play in realising them.
Read More
Take a look at the PMO Mini-Masterclass session on the subject of Benefits Management and the PMO.
In this article we take a look at the top five learning points you can take away from this session - or watch it all!
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