What are the benefits of benefits management? How do you ensure that it doesn’t become a cottage industry? The new British standard (out for public consultation) addresses this and more, and the lead author and working group chair will canter through some of the key points and expands on some of the more controversial areas.
Many organisations get as far as the benefits map and think they have “done” benefits management. It’s a good foundation, but the first return on investment comes when the benefits are the basis for stakeholder engagement, communications, and decision-making. However that return on investment is small fry compared to the really big rewards when organisations apply benefits management across a portfolio or across an enterprise. This applies just as much for a small organisation with a few low budget projects, as for a big one with divisions and PMOs, and the Government Major Projects Portfolio.
Benefits management takes resources, and it is worth doing right. The working group collated lessons from many P3 delivery organisations into a form that any organisation can copy and implement – whether it’s major government infrastructure or an agile software development.
This new British standard codifies how the most successful organisations implement benefits management across portfolios, programmes and projects. It’s available for public comment.
This webinar presented on Thursday 6 October expands on the standard by explaining some of the “sins” of benefits management, and invites participants to comment on the draft out for public consultation.
Hugo has very kindly allowed his presented material to be made available for viewing. The slides on Slideshare and the webinar recording on YouTube are now available in our APM resources area and also embedded below for reference.
The questions submitted from attendees during the webinar are being reviewed and answered.
This webinar content is suitable for professionals with any level of experience.
BS 202002 Applying benefits management on portfolios, programmes and projects – Guide
for online viewing and comments - until Tuesday 15 November 2022
Dr Hugo Minney herded cats over the last three years to bring this standard to you. Starting with a Technical Committee of more than 30, he pulled together a panel of seven representing government and many industry sectors, and a year ago requested feedback from Federation of Small Businesses and a number of other employers and industry sector representatives. It has now been released for public consultation – which means that you can comment and change the course of the future!
Hugo is the APM Benefits and Value SIG Co Chair and a benefits management subject matter expert for Sellafield Ltd. He’s an accredited Social Value professional and a nuclear professional with the Nuclear Institute, as well as a chartered project professional and chartered manager.
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APM Body of Knowledge 7th edition reference