Program Benefits Management
Categories of Benefits
Creation of new product or service
Creation of an alternative
Improvement in financial parameters
Saving a valuable resource
Recovery from a diaster
Benefits Identification
Benefits Analysis and Planning
Benefits Delivery
Identify and qualify benefits
Define and prioritize components
Define KPIs / Metrics
Establish benefits realization plan
Map benefits to program plan
Maintain benefits register
Report benefits
Benefits Transition
Consolidate coordinated benefits
Transfer ongoing responsibility
Benefits Sustainment
Monitor performance of benefits
Ensure continued realization of benefits
Benefits Identification
Benefits Analysis and Planning
Benefits Delivery
Benefits Transition
Benefits Sustainment
Benefits Register
List of planned benefits
Key Performance Indicators (KPIs)
Thresholds (bare minimum expectation)
Method of measuring the benefits
Mapping of planned benefits to program components
Status of progress indicators
Milestones for benefit achievement
Stakeholders responsible for benefits delivery
Map benefits to component level plans
Plan for transition and sustainment of benefits
Define the benefits, and when and how they will be achieved
Link the component outputs clearly to the program outcomes
Define the metrics for measurement of benefits
Define the roles and responsibilities for benefits management
Define how the benefits will be transitioned and sustained
Establish a process to monitor the extent to which a program is able to meet the desired benefits
Monitor the components
Monitor the organizational environment, program objectives, and benefits
Initiating, performing, transitioning, and closing program components, and managing interdependencies between them
Evaluate program risks and KPIs
Record program progres in the benefits register and report to stakeholders as per the communication plan
Initiate components and integrate output as per the benefits realization plan
Ensure that the accumulated and achievable benefits are aligned with strategy
Define high level objectives and Critical Success Factors of the Program
Identify and quantify specific business benefits
Develop meaningful metrics and KPIs
Establish processes for benefits identified
Create tracking and communication processes
Set up a benefit measurement process and establish the performance baseline
Establish a connection between benefits realization plan and program roadmap
Establish a connection of benefits with component level plans
Balanced Scorecard
Financial
Learning and innovation
Customer
Internal Process
Ensure program benefits are transitioned to operational areas
Ensure benefits realization can be sustained
Evaluate actual vs. planned benefits
Ensure successful integration of benefits
Improve willingness to make changes, if required
Assess readiness and approval by the receiving person or organization
Release resources gradually
Ensure the ongoing, long-term sustainment of benefits to the organization
Plan for operational, financial, and behavioral changes necessary to continue performance monitoring
Provide the necessary resources to ensure sustainment
Monitor the performance of outcome against plan
Monitor continued suitability of the product or service as the business environment changes
Initiate components to deal with changes