The Benefits Institute is about achieving strategic goals. It is the training arm of P3 Practices Pty Ltd (ABN: 51 154 522 442) and focuses on training in the third aspect of project management – customer satisfaction. The satisfaction of needs is what benefits management is about.
When the projects and programmes have delivered their outputs, do we get the outcomes we were anticipating and are these outcomes as beneficial as it was claimed they would be? Was it worth it? Benefits management has been central to programme management for some time. To be effective it must be entrenched in the way projects are approached and in the way decisions are made about what initiatives obtain approval – it is implicitly part of Portfolio Management, Programme Management & Project Management. In view of the persistent failure to achieve benefits, it needs to become far more explicit.
In the past few years scores of maturity assessments have been completed for government departments, notably those forming part of the federal government in Australia. What these assessments have shown is that Benefits Management is the poorest performing of any of the perspectives examined in assessing an organisation’s capability maturity. Organisations will benefit from a review their project and programme methods and their approach to portfolio management. Benefits Realisation starts with the earliest planning activities. The anticipated benefits from projects must be managed throughout the investment lifecycle.
In addition to our own courses around benefits, we have sourced online courses for PRINCE2 Project Management, Agile Project Management and APMG’s Managing Benefits course.