PMI® Report on Benefits Realization

How to create a benefits realization plan

Benefits Realization Planning

Benefits Realization Plan

PMI has published an new report on Delivering Value: Focus on benefits during project execution. Report available for Free Download.  PMI provides a tremendous amount of industry insight and transparency by stating “ At a time when the 2016 Pulse of the Profession® report indicates that project results are not only failing to improve, but may even be deteriorating, there is a clear need to help answer question(s) for executives.

Innovators Insight
Pg 12 of this report provides a thoughtful case study written by Dave Davis.  He is a sought-after project manager working in innovation industries. Several observations about the Benefits Realization Initiative Case Study:

  • Utilized iterative cycles
  • Used Change Management techniques to introduce Benefits Realization
  • After 3 years, the initiative may be incorporated into portfolio process.

This is an excellent case study yet business leaders are impatient for change.

Report Headline Buried in Appendix on Page 19
Journalists have a nose to look for the important stuff; the stuff we can change today. The stuff which busy leaders care about. This is report is a well written Call to Action. ” Yet project managers needs a clear Plan of Action.

How to Have both Project Success and Benefits Realization
I’m a project manager that works on innovation projects. I want to help teams accelerate project and outcome success. How? Print out this reports of benefits on page 19.

  • Circle which benefits apply to your project.
  • List benefits in the Agile Project Charter
  • Propose KPI’s which tie to the top benefits
  •  Review Project or Solution Process which enable these top benefits
  • Understand how your customer uses your product or solution.
  • Understand how the roadmap features helps or hurts these customer touch points
  • Create plan to capture data capture around these touch points
  • Create risk plan

By following this checklist, Project Manager can drive teams to successful execution and provide leaders an action plan for how to continue to measure benefits after project launch.