In this video, instructor Claudine Peet explains how transparency can be achieved in benefits forecasting. In addition, she explains how being forward-looking helps to support better benefits realisation.
- I've often heard of situations…where forecasts are wildly inaccurate or inflated…or not based on evidence…and, therefore, are completely unachievable.…Part of the reason is that sometimes…forecasters simply needed to gain funding for the project,…and there's no intention to measure their achievement…after the project.…As a result, very little importance…is placed on the accuracy and transparency…of these forecasts.…So let's now take a look…at how the organization can support…transparency of information…and adopt a forward-looking approach.…
Transparency is based on open and honest forecasting…and reporting with very clear visibility…of the link from the strategic objectives…to the benefits for each individual project.…To achieve this, benefit owners are expected…to provide evidence-based forecasts…with accurate benefits tracking and reporting…throughout the project.…In addition, all projects should be able…to clearly demonstrate how their outputs…will contribute to specific strategic objectives,…providing visibility to ensure no double counting…
Author
Released
11/13/2018- What is benefits management?
- Linking to corporate business strategy
- Assigning accountability
- Understanding the benefits management cycle
- Identifying and analyzing project benefits
- Realizing benefits
- Measuring and reporting benefits
Skill Level Intermediate
Duration
Views
Related Courses
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Introduction
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1. Overview
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What are benefits?2m 23s
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What is benefits management?2m 15s
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Who's involved3m 38s
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2. Characteristics of Successful Benefit Management
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How to assign accountability1m 44s
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3. Project Benefits Management Approach
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4. Identify and Analyze Project Benefits
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How to identify benefits3m 7s
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Benefits mapping2m 37s
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Quantify2m 41s
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Forecast2m 59s
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Documenting benefits2m 54s
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5. Plan to Realize Project Benefits
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Benefits measurement2m 51s
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Dealing with threats2m 46s
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6. Realize Project Benefits
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Emergent benefits2m 13s
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7. Review Project Benefits
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Continuous improvement2m 21s
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When to intervene3m 5s
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Conclusion
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Next steps52s
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Video: How to be transparent and forward-looking