Business Case for Benefits Realization - Success

Trying to get people to change is a real challenge; getting organizations to use benefits realization seems nearly impossible.

They have a lot to do already, money is scarce and time even more so.
I am sceptical... answer my questions... show me evidence, are also natural responses.

What we need is a clear business case for benefits realization.

Let's agree the categories and then we can start collecting the evidence. The essential evidence.
I believe that there are eight categories of benefit and I'll go through them one at a time on this blog.

1. Success
2. Change Risk
3. Clarity & Confidence
4. People & Roles
5. Program Planning
6. Complexity
7. Trust & Support
8. Control

Let's take Success first of all today.

I've used the word programs a lot but you can substitute this with words like change, projects, portfolios, transformation and activities.
Also, given all the experience out there I'm sure this is not comprehensive, so feel free to post your comments and I'll rework to include them.

Success

In short, benefits realization management (BRM) enables you to achieve greater results over time. 

BRM can therefore be essential for survival if an organization depends on the success of its programs. 

1. BRM can increase the likelihood that expected results will be delivered on-time, decrease the late delivery of results and help to achieve results earlier.  
2. BRM enables the performance of programs to be judged on results achieved rather than just deliverables. Surely you need to judge success based on benefits realized and not just deliverables?
3. The increased transparency BRM brings can significantly reduce any on-going frustrations with both poor results being delivered and failure rates. Spot and correct risks and issues earlier, share clearer information more often.
4. This clarity also helps to manage the expectations of sponsors and other stakeholders.
5. The demonstration of progress with realizing benefits can help maintain (or speed up) the pace and momentum of change. Actual results achieved and what is still possible can be shared and used to challenge and motivate. Reducing risk of change.   

• There are costs.
• Taking on the approach involves the use of simple processes and roles together with the need to provide a minimum set of information. 
• Processes include the selection of appropriate measures, setting of targets and estimating the impact of the changes, aligning plans to deliver benefits and governance activities.

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If you find this diagram helpful, feel free to re-use, alter and reproduce it as you feel fit.
The diagram was created and can be edited (for free) in a visual programme mapping tool called Realisor.

Links:

• Get Realisor Free Edition to edit the map
• Get the map shown above to open with Realisor

Benefits Realization - part of the solution?

Why do people and organizations invest in change when they are often not clear of:

1. What benefits they really want in return for their blood, sweat and tears?
2. What really needs to be done to get them?
3. If they are on track to get them along the way?

Without being clear on these surely they are likely to be disappointed. Most don't seem to learn. 
This is a good place to start the 5% campaign - realizing benefits from change is part of the future.  

Known by many names, benefits realization (project benefits management) is surely one of the areas we need. At over 15 years old the area has been bubbling under the radar of most businesses and programs. 


If you are involved in, responsible for or a victim of change then it's worth paying attention to the area. It could help you achieve more not just in your work life but also in your personal life too.


I'll be dipping into the area more and there is a growing amount of materials on the Internet. It's an area I'm passionate about.


Good books include:

• John Thorp - The Information Paradox
• Ward, J. and Murray, P. (1997), Benefits Management: Best Practice Guidelines.
• Bradley, G. (2006), Benefit Realisation Management – A practical guide to achieving benefits through change

There is also software to help: 

• Realisor 

Greater results for all - the 5% campaign

Every year billions of dollars are wasted, effort is wasted and opportunities lost.
This is an outrageous position and people and enterprises deserve better.  I believe there is a better future.

This blog is about Outcome Achievement: that everyone should achieve more of what they value with as little waste as possible. Waste being whatever does not contribute to valued outcomes.

I believe that people and organisation should end low value activities and achieve greater outcomes.  I am frustrated that the outcomes they value are not identified, agreed, planned for and achieved.


This blog is about sharing and helping people and enterprises achieve 5% more of what they value.

For example, in August 2005 a Harvard Business Review article identified study there is an average of 37% performance loss in organisations due to a number of factors.

Available approaches related to Outcome Achievement directly address 12.3% of this. Even if we achieved a 5% target then this would make a real contribution.

You're very welcome to join the campaign.