The performance measurement matrix is included in the business benefits realization plan. This matrix will be described in detail to ensure the measurement of each benefit is clearly documented.
- I've been brought into projects that didn't have…a benefits realization plan developed upfront.…The project manager is literally flying blind.…On one IT project the benefits realization plan…was pulled together after the project…had delivered the product.…By this stage, the project had cost $350,000.…The project manager then had to scratch around…gathering as many benefits as she could, to cover this cost.…But the benefits she found, were way down in the weeds.…
A $100,000 saving here,…a 0.2 saving on a full-time employee over here,…other benefits pitched by the project sponsor…were too vague to measure, like cultural change.…When the benefits plan was presented…to the senior stakeholders,…the inevitable question was raised, why did we bother?…Don't put yourself into that situation.…Starting the benefits realization planning process early,…is part of your duty of care to the organization.…Collate and call out the benefits of a project,…or the lack of benefits, at the beginning of your project.…
To help us do this, I like to use a tool…
- 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.