matt williams
TRANSCRIPT
Benefits Managementin an Agile World
Matt Williams PMP, MAIPM
Managing DirectorConnexion Systems
Benefits Management
Textbook Definition
– “The identification, definition, tracking, realisation and optimisation of benefits at initiative and portfolio level”
Steve Jenner, Managing Benefits
Benefits Management
Real Life Definition
– “What you do after you have delivered the project”
– “The thing you do once you’ve spent all the budget”
Traditional vs Agile Approach
Traditional Agile
Amplify 4-step investment process
What Defines Project Success?
1st Dimension– On Time– On Budget– To Scope
2nd Dimension
– Did we create business value?
Source: Delivering Major Projects in Government, National Audit Office (UK), 2016
What’s wrong with the Status Quo?
Strategic Alignment
38%of initiatives arenot helping to deliver strategy
Source: 4th Global Portfolio and Programme Management Survey, PwC, 2014
We Need to LinkExecution With Strategy
What are the Benefits?
Organisations that focus on strategic
alignment
deliver 50% more successful projects
Source: Pulse of the Profession, Project Management Institute, 2015
Strategic Focus No Strategic Focus
71%46%
Project Success Rates
So How Do We Achieve Strategic Alignment? Select the Right Projects!
So, What are the “Right” Projects?
Portfolio Selection
BenefitsProject
Benefits
Benefits
Benefits
Benefits
Project
Project
Project
Project
BenefitsProject
Benefits
Benefits
Benefits
Benefits
Project
Project
Project
Project
Portfolio Selection
Amplify 4-step investment process
Integrated Project and Benefit Delivery Schedule
More Value, Delivered Earlier
Amplify 4-step investment process
An Agile Approach to Delivery Allows Sponsors To:
1. Review performance to date versus the business case at regular intervals
2. Check that the direction and end state are still sound (ie no significant shift in the market or new disruptors)
3. Determine whether the investment is still the best option for future capital investment (Portfolio Optimization), or whether further investment is perhaps warranted to exploit the opportunity.
What Does This Look Like?For a Business Case
What Does This Look Like?For an Individual Benefit
Maintain Benefit Focus in Delivery
This All Starts with theBusiness Case The Business Case is the Mandate from the
organisation to deliver value
It is not just used to ‘justify’ the investment of resources, but as a roadmap to value creation
Includes lead indicators to measure performance during delivery
Should be reviewed regularly to consider internal and external factors
Examples of MeasurableLead Indicators Outcome – Reduce Smoking Related Deaths
Lead Indicator – Smoking Rates
Lead Indicator – Quitting Intentions
Outcome – Reduce staff in call centre
Lead Indicator - % of self service transactions
Lead Indicator - % of customers who use similar technology elsewhere
Business Case Reviews
Need to regularly review each business case to determine:
– Initiatives are still strategically aligned
– Delivery Performance ($, time)
– Benefits are likely to be realised
If an initiative no longer fits, have the decency to kill it!
NO MORE ZOMBIE PROJECTS!
ContactMatt Williams PMP, MAIPM
Managing DirectorConnexion Systems Pty Ltd
M: +61 414 847 040W: www.connexion.com.au