"We use SCOR and ProcessWizard because it contains standard intellectual property, industry best practices and is a validation tool for our own experience and methodology."
Project benefits from business change initiatives are poorly defined and managed throughout business around the world. A recent survey of large organisations, covering a spectrum of industries, sectors and geographies found that:
* 86% of organisations lost up to 25% of target benefits across their entire portfolio
* 59% of organisations have no or only informal benefits-management process
* 18% of those who had a formal process stringently enforce it
* Only 2% of organisations surveyed achieved targeted benefits all the time.
Source: Based on KPMG Global IT Project Management Survey in October 2005 on 600 companies from 22 countries.
As strategic objectives are achieved through the implementation of a portfolio of business initiatives, which deliver business benefits. There is a significant opportunity to improve the planning, monitoring and controlling of benefits.
The Strategic Journey Mapping (SJM) methodology helps companies to maximise the output from the invested input by concentrating on the most strategic initiatives. It also measures the achievements and impacts on the business, realising the business benefits.
SJM also is a key component of portfolio management, which improves the throughput of initiatives across an organisation. This enables a faster business initiative delivery and better-focused resource allocation, by doing the right things and assuring the right benefits are delivered.
SJM aims to translate strategy into a stream of outcomes including the necessary capability building and business changes initiatives. The method facilitates the unfolding of strategy over time, it does not specifically assist in defining the strategy. However, it will test the rationale of the strategy (Portfolio, Programmes and projects).
For more information on the SJM Tool please contact us or download the SJM brochure (PDF).
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