Best Practices in BRM (Part 2): Relate Deliverables Directly to Strategy
Michelle is a Benefits Realization Management specialist with a proven background in private and public sector end-to-end business project management. She has 17 years of financial sector experience spanning the banking, brokerage, exchange, regulation and buy side fields.
Continued from Part 1, this is the second of six articles on best practices in benefits realization management and its integration into project governance. In the BRM discipline, projects and programs are aligned with strategic objectives to generate verifiable value. This happens through three stages: benefits identification, benefits realization and benefits sustainment.
“Never confuse motion with action.”
— Benjamin Franklin
Why
Once an organization figures out where it needs to go, it’s a great time to take stock of where efforts are being expended. Limiting work on extraneous matters and concentrating efforts on what’s most important offers the greatest chance of success.
PMI actually found that BRM can help organizations get 50% more projects to hit their goals. Mapping each project or program deliverable to the organization’s strategic objectives demonstrates the relevance and criticality of those deliverables. The mapping process itself necessitates clarity and alignment amongst impacted functions, and helps bring issues or misunderstandings to light, before the project kicks off.
There’s also the value of having a one-page project road map that provides a visual representation of the key elements and how they relate to the organization’s strategic objectives. Even better, that road map will have been
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Published at Wed, 17 Jan 2018 05:00:00 +0000
