Good Benefit Statements Are Essential for Effective Benefits Realization Management (BRM)

Good Benefit Statements Are Essential for Effective Benefits Realization Management (BRM)

Paul Shaltry Central Ohio Chapter, and Dave Violette PMI Metrolina Chapter

– February 21, 2020

Abstract
There’s not much guidance readily available on writing benefit statements under the umbrella of benefits realization management (BRM) in the realm of project work. This article suggests ways of constructing useful statements. It offers thoughts on what makes a good benefit statement. At a minimum, each benefit should have a summary statement, as shown in examples. These examples should be enough so that you could work at drafting your own and give some critical thought as to how your organization handles such statements within your organization’s approach to BRM, whether it’s formally or informally done. Benefit statements are important because they speak to why project-based results are needed.

Introduction
Formal benefits realization management (BRM) in the world of managing projects has emerged over the past 30 years as a distinct practice. Many government entities around the globe have addressed the importance of managing benefits associated with projects or programs out of concern for taxpayer support and accountability.

Other entities tend to embrace BRM to varying degrees in trying to be as effective as possible with resources in balancing stakeholder interests and strategic goals. There is a decent stream of research advocating for BRM. Professional project management associations, like PMI, have published on the importance of BRM.

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Published at Fri, 21 Feb 2020 05:00:00 +0000