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Hub You - Intranet - The Benefits Realisation Plan
Pop Quiz: You have an international website and you want to do business in Canada. But you want to make sure your website delivers top performance to your Canadian customers: speed, accessibility, as well as proper functioning of digital certificates, forms, password protections, shopping carts and more. In which of the following cities would want a website monitoring station?Toronto, Canada's metropolisMontreal, Canada's second largest cityVancouver, Canada's third largest city.Ottawa, Canada's capital and fourth largest cityCalgary, Canada's fifth largest city.According to one of the world's top remote website monitoring firms, Calgary is the best choice."Based on our research of major Internet backbones in Canada and our existing client locations, we see Calgary as a major point for I
Arguably, this will only change when project managers and their people become accountable for – and obsessed by - delivering business benefits and value through Change, rather than simply projects to time and cost.
Benefits Defined
Soft Benefits (sometime called “non-quantifiable” benefits) are those
Your boss wants to have you work for them at the cheapest price that they can because they are obviously going to be able to keep more of the profits for themselves. You have to realize that getting a raise from your boss requires him to trust that his investment is going to be making himself more money.Before you ask your boss to give you a raise, you have to ask yourself if you deserve it. What have you done to deserve more of a pay raise? Do you impress your boss enough? You have to be able to perform on your job before you ask for a pay raise. You should ask your boss monthly if your work performance is pleasing them and if you can do anything to make your boss happier. This may sound like you are just trying to kiss up to the boss, but in reality, you are allowing yourself to get a faster pay raise. Bosses love to hear you ask them about your work performance be
A successful project is one that delivers on-spec (‘quality’), time and cost. Right? Well consider these two projects…
The Millennium Dome was delivered on time for the 31 December 1999 and safely within a budget (fixed in 1998) of ?289 million. The Project was also delivered to quality, albeit against a Specification that had been adjusted several times during the project to simplify the scope of work required (and ensure that time and cost deadlines could still be met). However, visitor number targets were greatly overestimated, the business a total flop and the whole endeavour deemed a failure by many.
The Millennium Wheel (or “London Eye”) opened one month late on a dreary February morning in 2000 (following problems raising the wheel and then safety & quality issues with one of the 32 pods). It was also over budget, with building costs of ?70m (against the ?25m British Airways had originally planned to spend). However, an average of about 10,000 people a day now ride the wheel, making the London Eye the UK’s biggest tourist attraction (and generating ?15 million of trading profit a year) - a healthy return on investment for the shareholders.
A New Mindset for Change Projects
Traditional methodologies for change / project management (of which PRINCE is an example) tend to focus primarily on time, cost and quality. Benefits are all too often only implicitly recognised and the accountability for realising them is assumed to lie outside the project.
However, the pace of change within our society, industry and business grows ever faster. Somewhat paradoxically, there is an ever-greater need to ensure that changes ‘stick’ (delivering sustainable benefit and competitive advantage to the organisations making them). Most businesses have already achieved greater efficiency and effectiveness within single functions or processes; The challenge of the 21st Century is increasingly how to realise end-to-end change across a boundary-less business.
Rarely (these days) will a single customer sponsor a single project, delivering a single system into a single department.
The leadership challenge is thus how to engage multiple sponsors and change agents across the whole business to deliver excellence in change and the ruthless pursuit of business benefits and true return on investment (ROI).
The Case for a focus on Benefits Management
Recent research from the Cranfield University School of Management finds that 78% of IT-enabled change projects (in large UK companies) fail to deliver business benefits. 47% believed assessment of business benefits in business cases was poor or worse and 79% said that all the available benefits were not captured during that assessment. 45% believed benefits were overstated in their organisation to get investment approval.
Arguably, this will only change when project managers and their people become accountable for – and obsessed by - delivering business benefits and value through Change, rather than simply projects to time and cost.
Benefits Defined
Soft Benefits (sometime called “non-quantifiable” benefits) are those i
At every customer-focused company there is a desire to provide the ultimate customer experience, from the CEO on down. What gets lost in translation is the extreme impact that delivering this level of customer service, or failing to do so, has on a company’s bottom line.Consider the impact of a customer’s experience when contacting your company: a satisfied customer typically tells one to three people about a good experience, while an unsatisfied customer talks to as many as 10 people about the bad experience. Businesses today are reaching an inflexion point where their customers are demanding more from their interactions with customer service representatives; simply answering a customer contact in a specified timeframe is no longer enough. Your customers want to speak with someone who understands their needs without detailed explanations or constant repetition.What
The Millennium Wheel (or “London Eye”) opened one month late on a dreary February morning in 2000 (following problems raising the wheel and then safety & quality issues with one of the 32 pods). It was also over budget, with building costs of ?70m (against the ?25m British Airways had originally planned to spend). However, an average of about 10,000 people a day now ride the wheel, making the London Eye the UK’s biggest tourist attraction (and generating ?15 million of trading profit a year) - a healthy return on investment for the shareholders.
A New Mindset for Change Projects
Traditional methodologies for change / project management (of which PRINCE is an example) tend to focus primarily on time, cost and quality. Benefits are all too often only implicitly recognised and the accountability for realising them is assumed to lie outside the project.
However, the pace of change within our society, industry and business grows ever faster. Somewhat paradoxically, there is an ever-greater need to ensure that changes ‘stick’ (delivering sustainable benefit and competitive advantage to the organisations making them). Most businesses have already achieved greater efficiency and effectiveness within single functions or processes; The challenge of the 21st Century is increasingly how to realise end-to-end change across a boundary-less business.
Rarely (these days) will a single customer sponsor a single project, delivering a single system into a single department.
The leadership challenge is thus how to engage multiple sponsors and change agents across the whole business to deliver excellence in change and the ruthless pursuit of business benefits and true return on investment (ROI).
The Case for a focus on Benefits Management
Recent research from the Cranfield University School of Management finds that 78% of IT-enabled change projects (in large UK companies) fail to deliver business benefits. 47% believed assessment of business benefits in business cases was poor or worse and 79% said that all the available benefits were not captured during that assessment. 45% believed benefits were overstated in their organisation to get investment approval.
Arguably, this will only change when project managers and their people become accountable for – and obsessed by - delivering business benefits and value through Change, rather than simply projects to time and cost.
Benefits Defined
Soft Benefits (sometime called “non-quantifiable” benefits) are those
As an executive recruiter, I interview a lot of people. And while most candidates find a way to look good on paper, their resumes don't always reveal how good of a problem solver they are. Yet all of my clients want to hire problem solvers - people who can walk into their operation and make their problems go away. This is understandable. Business, of course, is all about problems. In fact, whether your business is in growth mode or decline, you will always have problems. And it's management's job to either come up with the answers, or hire people who will. This article is about the latter. How We Learned about Solving Problems Through conventional classroom education, most of us have come to believe that there is usually a right or a wrong answer to a problem. As such, we tend to study our most pressing business problems t
However, the pace of change within our society, industry and business grows ever faster. Somewhat paradoxically, there is an ever-greater need to ensure that changes ‘stick’ (delivering sustainable benefit and competitive advantage to the organisations making them). Most businesses have already achieved greater efficiency and effectiveness within single functions or processes; The challenge of the 21st Century is increasingly how to realise end-to-end change across a boundary-less business.
Rarely (these days) will a single customer sponsor a single project, delivering a single system into a single department.
The leadership challenge is thus how to engage multiple sponsors and change agents across the whole business to deliver excellence in change and the ruthless pursuit of business benefits and true return on investment (ROI).
The Case for a focus on Benefits Management
Recent research from the Cranfield University School of Management finds that 78% of IT-enabled change projects (in large UK companies) fail to deliver business benefits. 47% believed assessment of business benefits in business cases was poor or worse and 79% said that all the available benefits were not captured during that assessment. 45% believed benefits were overstated in their organisation to get investment approval.
Arguably, this will only change when project managers and their people become accountable for – and obsessed by - delivering business benefits and value through Change, rather than simply projects to time and cost.
Benefits Defined
Soft Benefits (sometime called “non-quantifiable” benefits) are those
You probably already use the Online World for many things. Whether you use it for entertainment, research, sending E-mail to friends and family, or just discussing numerous subject topics with others.Of all things you can do online, there is one that you should definitely know how to do. MARKET ANY BUSINESS ONLINE!That's right, with the power of the Online World to reach millions of people, online marketing is definitely an awesome tool that no business should be without. Just because of the simple fact alone that advertising is practally FREE. The ability to get the results of thousands of dollars in free publicity is practically unheard of in business today. Only recently have more and more people figured out how to utilize the ever exploding online world to market their business efforts.Think about it, there is probably no business i
Rarely (these days) will a single customer sponsor a single project, delivering a single system into a single department.
The leadership challenge is thus how to engage multiple sponsors and change agents across the whole business to deliver excellence in change and the ruthless pursuit of business benefits and true return on investment (ROI).
The Case for a focus on Benefits Management
Recent research from the Cranfield University School of Management finds that 78% of IT-enabled change projects (in large UK companies) fail to deliver business benefits. 47% believed assessment of business benefits in business cases was poor or worse and 79% said that all the available benefits were not captured during that assessment. 45% believed benefits were overstated in their organisation to get investment approval.
Arguably, this will only change when project managers and their people become accountable for – and obsessed by - delivering business benefits and value through Change, rather than simply projects to time and cost.
Benefits Defined
Soft Benefits (sometime called “non-quantifiable” benefits) are those
Understanding Branding for Professional Service ProvidersBranding. We’ve all heard the word. But what does it really mean for professional service providers. Whether you are a doctor, consultant, business coach or financial planner, YOU are the brand. Do you really understand how important YOUR brand is to your marketing strategy and business?What is a Brand?A brand it the way that current and potential customers feel about your service. What do you want your customers to think when they think about the services you provide to them? This is your brand. If your customers are not thinking and feeling what you want. Your brand is off the mark and its time to rethink your branding strategy.Why should you create a brand?Creating a good brand builds credibility with potential customers and keeps current clients coming back for more. The brand that you
Arguably, this will only change when project managers and their people become accountable for – and obsessed by - delivering business benefits and value through Change, rather than simply projects to time and cost.
Benefits Defined
Soft Benefits (sometime called “non-quantifiable” benefits) are those intangible improvements to be obtained from a change, including improved employee satisfaction, better customer satisfaction, increased knowledge sharing and re-use of intellectual capital. Whilst it is often accepted that such benefits do lead to financial gain, it is deemed impossible to demonstrate a proven causal link that would enable one to place a financial value on the benefit.
Direct Benefits are those which lead to a measurable impact on the bottom-line of the organisation, including increased revenue, reduced costs of sale / improved margin, operating cost reduction (e.g. through reduced headcount) and improvements in working capital (e.g. through a faster debt collection cycle). An individual or team can be held directly to account for achieving them and providing evidence of their realisation.
Indirect Benefits are those which facilitate or enable bottom-line impact, without leading directly to realisable items for which can individual or team had be held accountable. Such benefits include cost avoidance (i.e. costs not currently budgeted that might otherwise become payable) and capacity creation (where efficiency savings free up people to undertake high-value adding tasks but do lot lead directly to the release of FTEs or other costs).
The Benefit Realisation Toolset
In the Benefits Realisation & Tracking chapter of my (free to access) Intranet Portal Guide, I outline a number of tools that can be used to better manage benefits on the typical portal project.
1) An enhanced Business Case
Many business cases simply do not sufficiently reference Benefits. Make sure that you dedicate at least as many column-inches to benefits as you do to costs. Split benefits between soft, direct and indirect. Ensure that direct benefits are included in the ROI, NPV or IRR calculations and that the people who will be accountable for their realisation have signed them off.
2) The Benefits Blueprint
Create a document that shows how your benefits link to actual business process changes, projects or deliverables and changes to systems. Suitable tools can be found in Cranfield’s Benefits Network approach, the Six Sigma toolset and as add-ons to PRINCE. Position the overall result in the context of your vision and strategy. This will help you capture all the benefits and to sharpen what you need to do to achieve them.
3) The Benefits Realisation Plan
The key control docu
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