From the course: Managing Project Benefits
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Defining benefits management strategy
From the course: Managing Project Benefits
Defining benefits management strategy
- Every project is expected to deliver benefits at some point in time, so it's important to have a defined strategy about how you're going to realize or measure these benefits. Without a defined strategy, it's likely that benefits will be overlooked or never fully realized, making it hard to determine the project's success. For example, if you expect a 5% reduction in overall costs, how will you calculate that 5%? Let me show you how to create a defined strategy to measure all of the benefits your project delivers. First of all, determine what environment the project exists in. Is the project part of a wider program or portfolio or is it just a standalone project? If your project is part of a program or portfolio, it's likely that defined procedures will already be in place for benefits realization and you can incorporate these into your strategy. If the project is a standalone project, check if there are any corporate procedures. And if there are, include these in your strategy. Now…
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