October 17, 2009
IT Value is what IT is all about now adays. Organizations do not buy systems, just to have the accomplishment of implementing a new system on its yearly report. System solutions are purchased for one of two reasons - either to resolve a business pain point or to obtain a business strategy. The benefits of a project are not realized with the implementation of the new system. The benefits of the project are realized when the business problem has been resolved or the new strategy has been obtained.
Benefits management is the practice of defining and realizing the benefits which a project attains. The key processes to implement a benefit's management approach are:
- Identify Anticipated Project Benefits - While planning for the project, it is a good idea to review the proposed project for business benefits. Developing these benefits is best the responsibility of the project sponsor, as they are advocating for the project. Once the benefits are declared, develop clear concise measure and verification for these benefits.
- Implement a Benefits Value Register - After you have identified the project benefits, it is a good idea to have a Benefits Value Register. The Benefits Value Register is to review through out the project the desired benefits, how their value is mapped to the project, and how they are anticipated to be realized. This register should be a part of your monitoring and control phase.
- Transition Benefit Realization - As a part of project closure, it will be necessary to setup the transition of the benefits into production support. Commonly the entire IT team is not needed at the same rate of effort after the system is in first productive use; however it may take a couple of months or years to achieve the desired benefits. Having the support needs established before hand is key, and normally already documented in the Benefits Value Register.
- Capture and Communicate Benefits Realization - The project sponsor should be held accountable for assuring the benefit is captured and communicated according to schedule. If the benefit is not being achieved, corrective action should be applied to help realize the desired affect.
Further Readings on Taming Chaotic Project Management:
- The Top Ten Characteristics of a Chaotic Project Management Environment
- Find out how many active projects are in flight.
- Establish your organization's current and desired need of Healthcare IT
- Collaborate on Prioritization Decision Criteria
- Have a defined and approved process to accept work.
- How to stop running the daily meeting marathon
- Using the WBS to define deliverables
- How to know when you have a project and when you do not
- 8 Training Tips on how to develop project schedules
- Introduce a Scope Change Management Process
- Uncover your current state resource allocation
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Welcome to the Healthcare IT Project Management Blog of Elyse Nielsen. This is the place where I share the ideas I have learned, the things I’d like to remember, and my thoughts for a brighter future. Find out more.
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