Why do you need Benefits Realisation Management?
There are those who:
Have heard of benefits management but think it’s not for them
Believe that they just need to focus on the deliverables and meet time, cost, quality targets – the traditional measures of success for projects
Believe that if you focus on the deliverables then the business benefits will take care of themselves
Think that the extra effort and time involved to pro-actively manage the benefits is not required or justified
Believe that benefits management is somebody else’s responsibility.
This thinking is fundamentally flawed. You need effective benefits management on your change for the following reasons:
The only reason that any change would be undertaken is to realise some kind of value for the organisation - why else would anybody invest in it? If this is the only reason then why would you not ensure that the value is delivered?
Research and statistics continue to paint a picture of the failure of change projects to deliver against their promises
Research, statistics and experience highlight the positive impact that benefits management has on increasing the value realised from change
Managing change successfully to maximise value is challenging - there are many dimensions to consider and there is reams of information that you can find on all these challenges and how to address them. But one of the reasons for the failure of change to deliver on its promises is the lack of effective benefits management.
If you are involved in any change initiative you have a responsibility to ensure that benefits are identified and realised.
If you don’t already practise pro-active benefits management then you must start now – it will have an immediate impact on the value your change is delivering for your organisation and it doesn’t have to be complicated.