Benefits Management Success Factors
Success Factor 2.1
Understand the expectation of benefit to be delivered
To meet Benefits Management Success Factor 2.1 the project will:
- Understand how its delivery objectives relate to programme or strategic level benefit.
- Include delivery of benefits within its business case.
- Have considered how those benefits may be measured in the future.
- Ensure that Project staff are fully aware of the benefit contribution to be delivered by the project.
The identification of the benefits that the project will deliver individually or at a programme or strategic level will help to clarify the reason for the project. Improved focus on benefits realisation will set the context and foundation from which improvement and benefit can be measured for the organisation.
Success Factor 2.2
Consider optimisation of benefits in decision making
To meet Benefits Management Success Factor 2.2 the project will:
- Understand the higher level benefits to which it contributes.
- Ensure that project decisions optimise the contribution to benefits.
The project should consider optimising benefits in balance with delivering its objectives within time, cost, performance and risk thresholds. The benefits to be delivered may be jointly realised by a number of projects and in this instance, decision making will need to consider joint and collective benefit contribution.
Stakeholder Engagement Success Factors
Success Factor 3.1
Engage effectively with stakeholders
To meet Stakeholder Engagement Success Factor 3.1 the project will:
- Identify its stakeholders and stakeholder groups (internal and external).
- Understand the interest and influence of its stakeholders.
- Have a consistent approach to stakeholder engagement.
- Define and implement a communications plan (include audit trails and bi-directional communications).
- Consult with appropriate stakeholders in decision making.
Effective engagement with a range of stakeholders ensures that the organisation/s involved in or affected by the project understand the nature and impact of the proposed change.
The knowledge held by stakeholders will be an important input to the project and increased stakeholder buy-in will aid transition or change, brought about by the project, within the organisation. Stakeholders required to interact with the outputs of the project should be involved in the decision making process. Understanding the interest and influence of stakeholders will enable communication to be controlled and targeted appropriately.
Success Factor 3.2
Evaluate, enhance and share improved ways of working
To meet Stakeholder Engagement Success Factor 3.2 the project will:
- Utilise lessons learned by previous or related projects.
- Evaluate how effective or efficient its ways of working are.
- Look for ways in which it can improve its ways of working (including lessons learned by other projects/areas).
- Identify and record good ways of working.
- Identify measurable improvement.
- Share and promote proven good ways of working within the project and wider organisation.
Lessons learned by other projects can be exploited. Evidence of good and poor working practices are identified and evaluated. Improved ways of working are highlighted and these are monitored for effect. Poor working practices and their effects can be eliminated and replaced by improved methods. Proven improved ways of working are recommended and shared within the wider organisation.
Article series on “Project Management Success Factors”:
- Management Control Succes Factors
- Benefits Management and Stakeholder Engagement Success Factors
- Organisational Governance and Financial Management Success Factors
- Risk Management and Resource Management Success Factors
(c) This series of articles are subject to Crown Copyright.