Benefits Management Excellence

Overview

Do you ask yourself the following questions?

How do I translate my strategic goals into initiatives and projects?
How do I communicate to my staff, why they are working on these initiatives and what they are delivering?
Are we really doing the right projects at the right time?
What happens if I delay or cancel this project?
When do I get the benefits from this Project?
Am I delivering benefits or just another project?

Then you are not alone because research* shows that the targeted benefits from significant business change initiatives are poorly defined and managed within organisations throughout the world:

86% of organisations lost up to 25% of target benefits across their entire portfolio
18% of those who had a formal process stringently enforce it (thus only 7% effectively track)
Only 2% of organisations surveyed achieved targeted benefits all the time

A recent New Zealand specific study** found an absence of benefits management practices in most New Zealand organisations, sharing similar experiences to international organisations. In addition, the study found that:

Only 36% of organisations have a formal benefits-management process
Only 32% of organisations continue to track targeted benefits until they are realised and formally reported on
25% of organisations do not undertake any form of strategic review to track targeted benefits realised

*Source: Based on KPMG Global IT Project Management Survey in October 2005 on 600 companies from 22 countries
** Source: KPMG New Zealand Project Management Survey 2010

What is Benefits Management Excellence?
Benefits Management Excellence (BME) is the set of processes that takes a global "end-to-end" view of your Business Change Initiatives, from "concept to catch".

Xelocity uses a framework called the Wrappers Model™, which allows organisations to establish processes to align their initiatives with the business strategy, clearly plan for benefits delivery and manage execution to maximise benefits realisation. Progressing through several levels of maturity an organisation can achieve Benefits Management Excellence.

Another powerful methodology developed by Xelocity is the Strategic Journey Mapping™ methodology. This offers:

Improved ability to make informed governance decisions on change initiatives and projects
Better communication of strategies and how they will be achieved over time
Helps create better Business Cases
Clear allocation of ownership for benefits from planning through to realisation
Allows prioritisation and impact analysis to assess the implications to benefits delivery
Cost savings by avoiding projects not delivering value

Services Offered
Benefits Management Training
Understanding the strategic role of Benefits Management and its value to organisations
Understanding the interrelationship between Benefits Management, Project Management and Governance processes
Understanding Benefits Management processes and how to create and manage a Strategic Journey Map, (SJM™)

Benefits Process Implementation
Benefits Management Maturity Assessment
To-Be Definition
Prepare portfolio of initiatives
Implement Benefits Management processes
Support and Sustain

Facilitated Benefits Workshops
Facilitates the creation of Benefits Maps and initial Strategic Journey Maps
Can be provided at a Strategic Planning, Programme Planning or Project level