Checklists are the must-have of anyone who likes structure and organization, so if simply hearing the word gets you excited; you came to the right place. When it comes to project management processes, benefits realization management remains one of the most challenging ones for many reasons. Many organizations acknowledge the importance of benefits realization management for the appropriate selection and initiation of projects and programs, yet many more struggles to do benefits realization management properly and end up wasting their resources and not making the bang for the buck on their projects.
While benefits realization management can be daunting at first; having a structured list of checks to follow in a simple step-by-step approach will make your life easier and prepare you better for what to expect and what to do to succeed in such a process. Checklists translate guidance into plain English instructions and break down the complex into smaller activities, in this way allowing you to confirm that nothing falls through the bricks.
The checklist follows the stages of the Benefits Realisation Management process, namely:
- Benefits identification: confirms that benefits have been clearly defined and are in line with the organization's strategic objectives.
- Benefits Planning ensures a robust plan for the delivery of the benefits, with defined timescales and responsibilities.
- Benefits realization validates that benefits are being measured, monitored, and reported against the targets set.
- Benefits transition enables a smooth ownership transition to the business units once the benefits realization period has been completed.