- 24 September 2019
Copthorne Hotel The Close Quayside Newcastle upon Tyne NE1 3RT
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Non member ticket: FREE
Member ticket: FREE
North East branch
Prioritise your portfolio using a benefits management framework
Benefits realisation management is becoming more and more important for demonstrating project success. But it isn’t always done well. Projects that do not have realistic potential to create value for stakeholders may get investment, leading to better projects being denied funding. Decision gate approvals, where projects must meet certain criteria in order to continue to be funded, will be undermined if some business cases get excepted.
Many organisations don’t review value as it’s being created, which means projects can go badly off track but continue to drain resources. Benefits management frameworks are a key part of the solution to resolve all of these. APM recently published the “Guide to using a benefits management framework” (Minney, September 2019). This interactive session illustrates and expands on the guide, although pre-reading is not a requirement.
What we will discuss:
- Why inconsistent benefits management approaches make it difficult to prioritise investment
- Some differences between agile and waterfall methodologies, particularly with respect to benefits and why they are still vital
- The key components you need in any portfolio to realise benefits and create value
- How to align every project in your portfolio to your organisation’s strategic objectives, and make best use of scarce resources
- The difference between value creation and “nice to have”
- How to put a value on compliance and risk avoidance
- How to use a benefits management technique at board meetings, and follow through the whole lifecycle of the project
- Decision Gates; how to introduce them to an existing portfolio or collection of projects
- Recognise dependencies between projects, both dependencies which affect the delivery of outputs, and dependencies which affect realisation of benefits.
Benefits realisation management isn’t difficult. A benefits management framework, if planned properly, can take a lot of the uncertainty out of successful project delivery. It can improve forecasts, clarify priorities, target investment, document and leverage dependencies and synergies, as well as realising strategic objectives. Come to this session to make your organisation, and yourself, more competitive in a challenging world and to provide assurance to governance bodies on value for money.
Hugo Minney, ChPP, FAPM
Hugo has worked in project management in many different settings but has never once had the job title of Project Manager.
From Account Manager (developing the specification and organising delivery and implementation), through Workforce Designer (creating new ways to overcome constraints in recruitment and education), Benefits Manager (coaching stakeholders what they can expect and what they have to do to get it), to a recent role as Chief Executive (responsible for making it happen), Hugo has worked across industries in Commerce, in Charity and the NHS.
Through all of this, Hugo has maintained a focus on value; the value that the user and the customer get, and why they would want to get (or buy) more.
The “Guide to using a benefits management framework” is Hugo’s second book for APM, after “Social Return on Investment (SROI): A powerful tool for the realisation of benefits”. He’s also contributed to thought leadership publications and cross-SIG workshops, including most recently “Procuring for benefits and value” with the Contracts and Procurement SIG.
Hugo is a Chartered Project Professional and the Chair of the Benefits and Value Specific Interest Group (SIG), as well as on the committees of Enabling Change SIG and North East Branch. He’s a committee member of BSI (British Standards Institute) as subject matter expert for a forthcoming benefits management standard.
18:00- Registration and refreshments
This event is suitable for professionals with any level of experience.
APM Body of Knowledge 7th edition reference