This video describes the four pillars that provide structure and rigor to the business benefits framework.
- As I travel over a bridge,…I always wonder how these great forms of engineering feats…can continue to stay up.…One thing they all have in common,…is well anchored support pillars.…Same is true when creating your business benefits framework.…The project professionals challenge,…is to assist your organization…to work out what the benefits will be,…and how they can be measured,…and managed through to realization.…It's about assuring the projects sponsor and executive team…that they made the right decision…with a business investment.…
So how do you do that for projects of all sizes?…By utilizing a simple business benefits framework,…for defining business benefits.…A business benefit realization framework…consists of four core pillars.…Pillar one, is the documented, consistent standards…that articulate who is interested in the benefits.…It assists stakeholders to transition…and define their specific needs.…
It helps inform their decision making.…And it's also a part of the continuous improvement process…at the portfolio and program levels.…
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- Identify the purpose of portfolio management.
- Determine the point when benefits are fully realized.
- Recall the four pillars of business benefit realization.
- Summarize the information provided by the performance register.
- Explain the steps taken to create a benefits realization plan.
- Identify the four fundamental components of governance.