Benefits Realization Management: A Practice Guide

Benefits Realization Management: A Practice Guide

by Project Management Institute
Released January 2019
Publisher(s): Project Management Institute
ISBN: 9781628254815

Read it now on the O’Reilly learning platform with a 10-day free trial.

O’Reilly members get unlimited access to books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.

Start your free trial

Book description

Benefits realization is the common thread that runs from organizational strategy through project deliverables that contribute benefits. Yet, according to PMI’s 2018 Pulse of the Profession Report: Success in Disruptive Times, only one in three organizations report high benefits realization maturity.

This practice guide provides a comprehensive look at the topic of benefits realization in portfolio, program, and project management and will help you tackle this important topic and drive more successful outcomes and better strategic alignment in your organization.

Inside this practice guide you will find:

• Standardized definitions for benefits realization, benefits realization management and associated benefits realization terms.
• The core principles of benefits realization
• The benefits realization management life cycle from organizational mission, vision, and strategy through project deliverables and success measurement, and how it contributes to the expected benefits and value that the organization intends to realize.
• A framework and guidance to help practitioners manage benefits realization in organizational project management and portfolio, program, and project management.

As with all PMI standards and publications, this practice guide also aligns with our other standards including: A Guide to the Project Management Body of Knowledge (PMBOK Guide)® – Sixth Edition; The Standard for Program Management – Fourth Edition; and The Standard for Portfolio Management – Fourth Edition.

Table of contents

  1. Cover Page
  2. Title Page
  3. Copyright Page
  4. Notice
  5. Table of Contents
  6. List of Tables and Figures
  7. Preface
  8. 1. Introduction
    1. 1.1. Purpose
    2. 1.2. Need for BRM
    3. 1.3. Intended Audience
    4. 1.4. Overview of Content
  9. 2. BRM and Organizational Context
    1. 2.1. Overview
    2. 2.2. Organizational Strategy and Benefits
      1. 2.2.1. Connecting Business Strategy to BRM
      2. 2.2.2. Organizational Goals as Drivers
      3. 2.2.3. Sponsorship and Benefits
    3. 2.3. BRM Core Principles
      1. 2.3.1. Net Benefits Justify the Use of Invested Resources
      2. 2.3.2. Commencement of Work is Driven by Benefits Identification
      3. 2.3.3. Planned Benefits are Identified in Authorizing Documents
      4. 2.3.4. Benefits Realization is Holistically Planned and Managed
      5. 2.3.5. Governance and Adequate Resources are Essential to BRM Success
    4. 2.4. BRM Critical Success Enablers
      1. 2.4.1. Establish Clear BRM Roles and Responsibilities
      2. 2.4.2. Develop the Right BRM Culture
      3. 2.4.3. Build the Right Skill Sets
      4. 2.4.4. Embrace Flexibility
      5. 2.4.5. Strengthen Governance and Risk Management
      6. 2.4.6. Establish Benefits Tracking
    5. 2.5. Organizational BRM Roles and Responsibilities
      1. 2.5.1. Organizational Strategy and Sponsorship
      2. 2.5.2. Portfolio Roles and BRM
      3. 2.5.3. Program Roles and BRM
      4. 2.5.4. Project Roles and BRM
  10. 3. BRM Framework
    1. 3.1. Overview
    2. 3.2. Identify Stage
      1. 3.2.1. Develop Business Case and Benefits Realization Management Plan
      2. 3.2.2. Authorize Charter
    3. 3.3. Execute Stage
      1. 3.3.1. Develop Outputs
      2. 3.3.2. Deliver Outputs and Transfer Ownership of Outputs to Realize Benefits
    4. 3.4. Sustain Stage
      1. 3.4.1. Realize-Sustain Benefits
      2. 3.4.2. Adapt Benefits
    5. 3.5. Supporting Practices Across the BRM Life Cycle
      1. 3.5.1. Key Interactions
      2. 3.5.2. Principal Supporting BRM Tools
      3. 3.5.3. Categorizing Benefits
        1. 3.5.3.1. Common Categories of Benefits
        2. 3.5.3.2. Additional Categorization
    6. 3.5.4. Benefits Measurement
      1. 3.5.4.1. Factors Influencing Benefits Measurement
      2. 3.5.4.2. Roles and Benefits Measurement
      3. 3.5.4.3. Timing of Benefits Measurement
    7. 3.5.5. Benefits and Requirement Traceability
  11. 4. Guidance for Portfolio, Program, and Project Management in a BRM Context
    1. 4.1. Overview
    2. 4.2. BRM General Guidance for Portfolio Managers
    3. 4.3. BRM General Guidance for Program Managers
    4. 4.4. BRM General Guidance for Project Managers
    5. 4.5. BRM General Guidance for Business Analysts
  12. Appendix X1. Contributors and Reviewers of Benefits Realization Management: A Practice Guide
    1. X1.1. BRM Core Committee
    2. X1.2. SME Reviewers
    3. X1.3. PMI Standards Program Member Advisory Group (MAG)
    4. X1.4. Production Staff
  13. Appendix X2. Benefits Realization Management Readiness Survey
    1. X2.1. Core Principles of BRM
      1. X2.1.1. Net Benefits Justify the Use of Invested Resources (Table X2-1)
      2. X2.1.2. Commencement of Work is Driven by Benefits Identification (Table X2-2)
      3. X2.1.3. Planned Benefits are Identified in Authorizing Documents (Table X2-3)
      4. X2.1.4. Benefits Realization is Holistically Planned and Managed (Table X2-4)
      5. X2.1.5. Governance and Adequate Resources are Essential to BRM Success (Table X2-5)
    2. X2.2. BRM Critical Success Enablers (CSEs)
      1. X2.2.1. Establish Clear BRM Roles and Responsibilities (Table X2-6)
      2. X2.2.2. Develop the Right BRM Culture (Table X2-7)
      3. X2.2.3. Build the Right Skill Sets (Table X2-8)
      4. X2.2.4. Embrace Flexibility (Table X2-9)
      5. X2.2.5. Strengthen Governance and Risk Management (Table X2-10)
      6. X2.2.6. Establish Benefits Tracking (Table X2-11)
  14. Appendix X3. BRM Research Summary
    1. X3.1. Report #1
      1. X3.1.1. Purpose of Report #1
      2. X3.1.2. Findings and Reflections from Report #1
      3. X3.1.3. Conclusion and Recommendations from Report #1
    2. X3.2. Report #2
      1. X3.2.1. Purpose of Report #2
      2. X3.2.2. Conclusion and Recommendations from Report #2
  15. References
  16. Bibliography
  17. Glossary

Product information

  • Title: Benefits Realization Management: A Practice Guide
  • Author(s): Project Management Institute
  • Release date: January 2019
  • Publisher(s): Project Management Institute
  • ISBN: 9781628254815