Project Portfolio Management: A View From The Management Trenches

7.4. CONCLUSION

"So, let's summarize where we've got to," John recapped. "We need to focus on three things: first, ensuring all benefits claimed are robust and realizable; second, that we capture all forms of value created; and third, that we create value by managing benefits from an enterprise rather than project perspective. . . . Have I got it right?

"That's about it," replied Bill, "although it's easier to say than to achieve in practice. I reckon that napkin on which you wrote your notes at our first meeting must be pretty full by now—so let me email you something that Chris and I carry around with us. It captures the salient points on one page, just as your business cases and benefits reports should. I'm sending it now."

John looked at his in-box and opened the latest message and an attachment entitled "The Ten Principles of Effective Benefits Realization Management." "Got it, just give me a minute to read it . . .

The Ten Principles of Effective Benefits Realization Management Benefits must be placed at the center of the portfolio management and investment appraisal processes—funding should be linked to benefits forecasts and key stakeholders should be clear about what benefits they are buying. Benefits realization starts with the business case—ensure that the business case includes all activities and costs required to realize the forecast benefits. Funding allocations should be incremental and continued funding should be directly linked to the latest benefits forecast—regular ...