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Strategic Benefits Realization

Strategic Benefits Realization

Optimizing Value through Programs, Portfolios and Organizational Change Management
By Craig Letavec, PgMP, MSP, PMP
Hardcover, 6x9, 312 pages
ISBN: 978-1-60427-093-8
February 2014

Availability: In stock

Retail Price: $64.95
Direct Price: $54.95
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Read the Reviews

Strategic Benefits Realization never loses focus on the ultimate goal of any organization—to achieve business benefits that endure. Craig Letavec’s common sense approach and practical guidance can be applied throughout the entire benefits realization life cycle to ensure true business value from project investments. Business and project professionals can apply the author’s business-focused techniques immediately—a must read in today’s highly competitive global marketplace.”

Marc Resch, President, Resch Group, and best-selling author

About the Item

This desk reference offers practical guidance for program managers, portfolio managers, and business leaders in the implementation of benefits realization management in organizations.  Aligned with global standards, this book extends the knowledge contained in these standards through practical implementation guidance, examples, and additional detail created to assist organizations in implementing benefits realization management as a business practice to support the achievement of strategic business benefits.

It also addresses important considerations in organizational change management, providing insights on leveraging key principles to guide successful implementation of the business change required to realize benefits through project and program work. Leveraging benefits realization management at the business portfolio level is covered as well. This book is ideal for organizations beginning to implement benefits realization management and those that wish to mature existing practices.

Strategic Benefits Realization provides a practical approach to implementing benefits realization management in organizations that is aligned to PMI’s Standard for Program Management and other global standards, and is presented in the context of program and portfolio management. The guidance offered supports effective governance and execution management to deliver business value.

Key Features
  • Provides guidance for organizations seeking to implement benefits realization management principles within both project and program management environments
  • Describes the complete benefits realization life cycle from initial business case development and benefits identification through transition and preparation for sustaining benefits
  • Reviews organizational change management principles and supplies practical guidance for leading business change
  • Details critical benefits realization management roles and offers advice for selecting key leaders
  • Focuses on the establishment of key performance indicators and measurement systems to quantitatively manage benefits realization
  • Explains the role of governance in benefits realization management and provides guidance for program management offices and governance bodies for effectively supporting benefits realization management in organizations
  • Includes a focus on the application of benefits realization management at the portfolio level
  • Aligned with global program management standards including the Project Management Institute’s Standard for Program Management
  • WAV offers downloadable sample tools and templates to support implementation — available from the Web Added Value™ Download Resource Center at www.jrosspub.com
  • About the Author(s)

    Craig Letavec, PMP, PgMP, is an internationally recognized expert in program management and program management offices.  His professional experience includes leading large-scale business change programs with a focus on business benefits realization, implementing program management offices, and leading efforts to mature project, program, and portfolio management practices in organizations.  As a published author, Craig’s works include The Program Management Office: Establishing, Managing, and Growing the Value of a PMO and The PMOSIG Program Management Office Handbook.  Craig is a noted speaker and the founder and past conference chair of the PMO Symposium.  He holds a Master of Science degree in Project Management from George Washington University. 

    Table of Contents

    Chapter 1: Introduction to Benefits Realization Management
    What Is a Benefit?
    Where Do Benefits Come From?
    Characteristics of Benefits
    Intermediate and End Benefits
    Disbenefits
    Emergent Benefits
    Tangible and Intangible Benefits
    Time Bound Benefits
    What Is Benefits Realization Management?
    Benefits Identification
    Benefits Analysis and Planning
    Benefits Delivery
    Benefits Transition
    Benefits Sustainment

    Chapter 2: Benefits Realization Management in the Project, Program, and Portfolio Contexts
    Distinguishing between Projects and Programs
    Understanding Portfolio Management
    Projects, Programs, and Portfolios Together

    Chapter 3: Benefits Realization Management Roles and Responsibilities
    Primary Roles
    Program Manager
    Senior Responsible Owner
    Business Change Manager
    Program Management Team
    Effort Allocation to Primary Roles
    Supporting Roles
    Benefit Owner
    Program Office
    Program Management Office
    Portfolio Management Office

    Chapter 4: A Benefits Realization Management Life Cycle
    Benefits Realization Management in the Program Life Cycle
    Benefits Identification
    Benefits Analysis and Planning
    Benefits Delivery
    Benefits Transition
    Benefits Sustainment
    Relationship between the Benefits Realization Management Life Cycle and Associated Life Cycles
    Relationship to the Program Management Life Cycle
    Relationship to the Portfolio Management Life Cycle
    Relationship to the Project Management Life Cycle
    Relationship to Organizational Project Management Processes

    Chapter 5: Benefits Identification
    Beginning with the End in Mind
    Benefits Identification
    Tools and Techniques for Benefits Identification
    Benefits Register
    Benefit Profile
    Benefits Workshop
    Benefits Brainstorming
    Benefits Map
    Benefits Quantification
    Baseline Performance
    Determine Improvement Potential
    Validate Benefits

    Chapter 6: Benefits Analysis and Planning
    The Benefits Realization Plan
    Component Identification and Prioritization
    A Note on Interdependencies
    Establishing Measurement and Monitoring
    Types of Measures
    Measure Development Example
    The Measurement Plan
    Characteristics of Good Measures
    Setting the Performance Baseline
    Communicating Performance

    Chapter 7: Benefits Delivery
    Maintaining Benefits Alignment
    Benefits Tracking and Reporting in Benefits Delivery
    Benefit Realization Management Reviews
    Benefits Reviews
    Managing Work and Interdependencies
    Benefits Monitoring
    Risk Management Activities

    Chapter 8: Benefits Transition
    Determining Transition Scope
    Determining Transition Success
    Required Transition Activities
    Transition Planning
    Transition Initiation
    Transition Management
    Transition Review
    Benefits Validation
    Benefits Realization Reporting
    Developing a Transition Plan
    Overview
    Transition Planning
    Transition Delivery
    Benefits Delivery
    Transition Approval
    Managing Transition Issues

    Chapter 9: Benefits Sustainment
    Benefits Sustainment Planning
    Performance Monitoring Planning
    Benefits Sustainment Monitoring
    Supporting Benefits Sustainment
    Evolving Products, Services, and Results

    Chapter 10: Descriptions for Primary Benefits Realization Management Roles
    Benefit Owners
    What Does a Benefit Owner Do?
    How Do Benefit Owners Fit within the Benefits Realization
    Management and Program Context?
    Where Do Benefit Owners Come From?
    What Skills Are Required?
    How Can Benefit Owners Best Support Benefits Realization Management?
    What Are Potential Traps to Avoid?
    Senior Responsible Owner
    What Does the Senior Responsible Owner Do?
    How Does the Senior Responsible Owner Fit within the Benefits Realization Management and Program Context?
    Where Does the Senior Responsible Owner Come From?
    What Skills Are Required?
    How Can the Senior Responsible Owner Best Support Benefits Realization Management?
    What Are Potential Traps to Avoid?
    Business Change Manager
    What Does the Business Change Manager Do?
    How Does the Business Change Manager Fit within the Benefits Realization Management and Program Context?
    Where Does the Business Change Manager Come From?
    What Skills Are Required?
    How Can the Business Change Manager Best Support Benefits Realization Management?
    What Are Potential Traps to Avoid?

    Chapter 11: Organizational Change Management in the Benefits Realization Management Context
    The Fundamental Concept of Organizational Change Management
    The Notion of Movement
    Who Are We Impacting?
    How Do We Manage Change?
    Minimizing Disruption
    Maximizing Benefits
    Change Management Roles
    Business Change Manager
    Benefit Owners
    Change Agents
    Champions
    Management
    Relationships between Roles
    An Organizational Change Management Life Cycle
    Define Change Drivers
    Define Change
    Plan Change
    Execute Change and Monitor Results
    Perform Transition
    Support Sustainment
    Organizational Change Management Life Cycle Summary

    Chapter 12: Benefits Realization Management in the Portfolio Management Context
    The Role of the Portfolio Manager in Benefits Realization Management
    Prerequisites to Portfolio Management for Benefits Realization Management
    Portfolio Selection Impacts
    Portfolio Reporting and Review Impacts
    Portfolio Reporting
    Portfolio Review
    Benefits Considerations in Portfolio Risk Management
    Assessing the Application of Benefits Realization Management on the Portfolio Level
    Portfolio Management Considerations in Benefits Realization Management Implementations
    Applying Benefits Realization Management in Portfolio Management Implementations

    Chapter 13: Benefits Realization Management in Project-based Organizations
    General Implementation Approach
    Prerequisites
    Benefits Realization Management Considerations in the Project
    Context
    Structuring the Team
    Selecting Pilot Scope
    Implementation Considerations
    Confirming Pilot Scope
    Selecting Benefits Scope
    Educating People
    Monitoring Progress
    Establishing Reporting
    Concluding and Validating Success

    Chapter 14: Program Management Office Role in Supporting Benefits Realization Management
    Types of PMOs and Their Involvement in Benefits Realization Management
    Enterprise Program Management Office
    Portfolio Management Office
    Project Office
    Center of Excellence
    Organizational Unit Program Management Office
    Other PMO Types
    Determining an Approach
    Keys to Success
    Case Study Example

    Chapter 15: Business Case Considerations
    Business Case Overview
    Relationship between the Business Case and Benefits Realization Management
    Business Case Structure
    Executive Summary
    Business Challenge or Opportunity
    Alternatives
    Financial Analysis
    Risk Analysis
    Recommendation
    Future State Blueprint
    Project or Program Overview
    Who Develops and Validates the Business Case?
    Business Case Review and Evolution
    Business Case During Project or Program Execution

    Chapter 16: Practical Guidance for Implementing Benefits Realization Management

    #1 — #10 Practices

    Appendix A: Case Study—A PMO Role in Benefits Realization Management
    Brief History of PMOs
    Case Study
    Program Description
    Results
    Benefits Realized and Lessons Learned
    PMO Model
    Role 1: Information Broker
    Role 2: Work Manager
    Role 3: Benefits Manager
    Model Application in General
    Model Application in Case Study

    Appendix B: Sample PgMP® Examination Questions
    Sample Questions
    Answers to Sample Questions

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