Managing Project Budgets

11 BUDGET FOR CHANGE MANAGEMENT

For every £1 spent on change management on large projects, organisations get a return of £6.50, according to research by Changefirst,²⁰ a company that helps organisations implement change more effectively. Of course, you would expect a change management company to advocate change management, but their study shows massive returns on doing change management properly. Survey respondents were asked to look at projects six to nine months after completion to see whether the change had ‘stuck’. The results show that on large projects, over 40 per cent of change managers believe that at least a third of the financial gains could be attributable to change management activities alone.

Not all projects have dedicated change ...