Delivering Value: Focus on benefits during project execution
Project managers have a role in ensuring that an organization’s expected benefits are delivered once a project is complete. It’s especially important to activate that role during project execution, when benefits can be derailed due to changes in the business, resource challenges, or customer demands that misalign with a project’s original goals. Such scenarios need careful attention for benefits realization management. Through the activities of monitoring, measuring and reporting, leaders can understand whether projects and programs are on track to deliver the benefits expected. In addition to embracing the project manager’s role in benefits realization, organizations that more fully realize benefits work through cross-functional teams. These teams include a well-engaged business or benefits “owner” and have in place the tools and processes needed to measure and measure benefits. When benefits realization is part of a disciplined approach to project management, performance increases. Yet most organizations — 83 percent — lack maturity in this area according to current Pulse of the Profession® data. Download the report for more on the essential need for benefits realization management in projects and programs.