Managing Benefits Foundation
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Module One: Overview, What is Benefits Management? (1 topic)
- Defines the terminology used, what is meant by benefits and benefits management; review the track record of change initiatives in terms of benefits realisation; cognitive biases affecting benefits management; and the objectives of benefits management.
Module Two: The Benefits Management Principles (9 topics)
- Discusses the seven enabling factors or principles that represent the solid foundations upon which effective benefits management is built. They are:
- Align benefits with strategy
- Start with the end in mind
- Utilise successful delivery methods
- Integrate benefits with performance management
- Manage benefits from a portfolio perspective
- Apply effective governance
- Develop a value culture
Module Three: The Benefits Management Cycle (1 topic)
- Introduces the Benefits Management Cycle, the organizational context in which it operates, and the constituent practices addressed in the next five modules. This module also addresses the barriers to, and the Key Success Characteristics of, effective approaches to benefits management. It also provides an overview of the main benefits management roles, responsibilities and documentation.
Module Four: Benefits Management Practice 1 - Identify & Quantify (1 topic)
- The objective of this first practice is to lay the basis for informed options analysis, investment appraisal, and portfolio prioritisation. We shall discuss various approaches to identifying benefits including: benefits discovery workshops, benefits mapping and customer insight, as well as forecasting benefits. As well as problems typically faced and appropriate solutions.
Module Five: Benefits Management Practice 2 - Value & Appraise (1 topic)
- Once identified and quantified we look at why organizations value benefits in monetary terms; various approaches to valuing non-financial benefits in monetary terms; the main approaches to initiative appraisal cost-benefit, real options, cost-effectiveness and multi-criteria analysis; and the role of value management techniques.
Module Six: Benefits Management Practice 3 - Plan (1 topic)
- Planning covers approaches to validating benefits; prioritizing benefits; managing the pre-transition phase; selecting benefits measures; benefits risk and opportunity management; planning effective stakeholder engagement; and an overview of the main initiative-level benefits management documentation used in planning for benefits realization, and who prepares and maintains them.
Module Seven: Benefits Management Practice 4 - Realize (1 topic)
- Benefits seldom just happen, there needs to be transition management; tracking and reporting, including surveys; and approaches to effective stakeholder engagement to win hearts as well as minds, and so deliver the behavioural change upon which benefits realization is often dependent.
Module Eight: Benefits Management Practice 5 - Review (1 topic)
- The final practice looks at the importance of review as a basis for learning and continuous improvement before, during and after the initiative.
Module Nine: Portfolio-based application of Benefits Management (1 topic)
- Addresses why portfolio-based benefits management is so important and its main elements
Module Ten: Implementing and sustaining progress (1 topic)
- Successful benefits management is embedded into the culture of organisation. In this module we look at how to get started with implementing benefits management, and how to sustain progress, including measuring impact and maturity.
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