Benefits Realization and Value Management
By Harold Kerzner, Ph.D.
Abstract
Organizations in both the public and private sectors have struggled with creating a portfolio of projects that provide sustainable business value.
Common Problems (do any of these sound familiar?)
- Project requests are added to the queue for delivery without proper evaluation and with little regard if the projects are aligned with business objectives or provide benefits and value upon successful completion
- Projects are submitted without any accompanying business case or alignment to business strategy
- Projects have accompanying business cases that are based upon highly exaggerated expectations and unrealistic benefits
- Projects are created because of the whims of management and the order in which the projects are completed is based upon the rank or title of the requestor
The Result?
Project failure, a waste of precious resources, and in some cases, business value is eroded or destroyed rather than created.
Benefits realization and business values do not come from simply having talented resources or superior capabilities.
Rather, they come from how the organization uses the resources.
In this white paper, you will learn about:
- Understanding the Terminology around Benefits and Value
- Redefining Project Success
- The Business Case for Benefits Realization and Value Management
- Measuring Benefits and Value
- Life Cycle Phases
- Categories of Benefits and Value
- Converting Benefits to Value
- Portfolio Benefits and Value
- Alignment to Strategic Objectives
- Causes of Complete or Partial Failure
About the Author:
Harold Kerzner, Ph.D
Dr. Harold Kerzner is a globally recognized expert in project, program, and portfolio management, innovation, and strategic planning, and Senior Executive Director at International Institute for Learning (IIL). For over 50 years, Dr. Kerzner has shared vital guidance for making project management a strategic tool for competitive advantage and helping companies around the world build a powerful foundation for company improvement and excellence.
He has authored or co-authored more than 60 textbooks/workbooks on project management, including multiple editions of his seminal works. His books include Project Management: A Systems Approach to Planning, Scheduling and Controlling; Project Management Metrics, KPIs and Dashboards; Project Management Case Studies; Project Management Best Practices: Achieving Global Excellence; The Future of Project Management; Using the Project Management Maturity Model; and Innovation Project Management.
Dr. Kerzner holds an MS and Ph.D. in Aeronautical and Astronautical Engineering from the University of Illinois and an MBA from Utah State University. He taught engineering at the University of Illinois and business administration at Utah State University, and for 38 years taught project management at Baldwin-Wallace University. A testament to Dr. Kerzner’s profound influence on the field is the establishment of the Kerzner International Project Manager of the Year Award. This prestigious award, presented annually by the Project Management Institute (PMI) which recognizes outstanding project managers who have demonstrated exceptional leadership, innovation, and contributions to the project management profession.
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