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BRM - Coggle Diagram
BRM
Describe SMART with examples
Achievable
- are the objectives you set achievable and attainable e.g. Is the objective achievable in the time frame? Do you have the resources, man-power, finances?
Realistic
- can you realistically achieve the objectives with the resources you have e.g. Is the 30% objective over 36 months realistic or will macro economic forecasts make this impossible
Measurable
- should be able to measure whether you are meeting the objectives or not e.g. A 30% reduction over 36 months means each month arrears target can be measured against a specific goal
Time
- when do you want to achieve the objective e.g. in this example 36 months is the time period
Specific
- objectives should specify what they want to achieve e.g. reduce arrears by 30% market share in 36 months
4 Objectives of Benefits Mgmt
Provide a means of extending "traditional" success criteria of measuring outputs to a broader view of success
Reduce project risks through Benefits Management process
Compare benefits of prj against an agreed baseline
Proactively identify and address factors diminishing benefits
4 Factors that can diminish Benefits Realisation
Business Need or change in strategic Direction
Projects designed to capture market
share when org strategy shifts to consolidation
Market/Consumer Demand
Building houses in property crash
Changes to Ext Environment
Regulatory changes
Consumer Sentiment
Obsolescence/New Alternatives
Developing a standard phone
following the launch of smart phones
Creating cassette or video tapes