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Managing Benefits Essentials
Why an "Essentials" course?
The purpose of the official five day Managing Benefits course is to provide managers and practitioners from multiple disciplines, and varying backgrounds, with one guidance that includes benefits management principles, practices and techniques. The two day essentials course enables the delegate to understand the key aspects of the full course without having to sit the foundation and practitioner exam. A more informed decision can then be made whether to attend the full five day course.
Change Management concern
The rationale for investments in change (whether these initiatives are established formally or informally as projects or programmes) is the realisation of benefits.
Research shows that “deficiencies in benefits capture bedevils nearly 50% of government projects” and “30 – 40% of systems to support business change deliver no benefits whatsoever”.
Such findings should also be seen in the context of change initiatives that not only fail to realise their forecast benefits, but which also cost significantly more than forecast, further compromising the attainment of value for money.
Some pertinent point
- Benefits are defined as “the measureable improvement resulting from an outcome perceived as an advantage by one or more stakeholders, which contributes towards one or more organisational objective(s).
- Benefits management is a process runs across the full business change lifecycle from benefits identification through to realisation and applying lessons learned.
- The objectives of benefits management are to ensure benefits realisation is optimised by the following: forecast benefits are complete, realizable and represent value for money: realization of forecast benefits is maximized; benefits are realized as early as possible and are sustained for as long as possible; emergent benefits are captured and leveraged (and any dis-benefits are minimized); and that we can demonstrate the aforementioned.
- The case for more effective benefits management is made by the relatively poor track record of many change initiatives in delivering the benefits they were established to realize.
- Notwithstanding the case for benefits management, many organisations struggle to implement benefits management effectively – this essentials course contains solutions to address this issue, starting with the seven Principles and working through the five steps in the Benefits Management Cycle.
Delegate reference material
Each delegate will receive a copy of the official manual.
Positioning Management Benefits
During the Managing Benefits Essentials course the following topics will be discussed:
- Consider the 7 principles of MB – chapter 4
- The MB management cycle – macro level
- ID and qualify MB
- Value and appraisal
- Realise and transition
- Review, before during and after
- Identify and Qualify benefits
- Value and Appraise benefits
- Plan benefits
- Realize (transition)
- Review (before, during and after)
Implement and sustain
Roles and responsibilities