By Carlos Eduardo Martins Serra
Merits attention administration (BRM) is a key a part of governance, since it helps the strategic construction of price and offers the proper point of prioritization and government help to the proper projects. as a result of its relevance to the governance method, BRM has a powerful impact over undertaking luck and is a hyperlink among strategic making plans and process execution.
This booklet publications portfolio, software, and venture managers in the course of the strategy of advantages recognition administration to allow them to maximize enterprise price. It discusses why and the way courses and tasks are anticipated to let price construction, and it explains the position of BRM in price construction. The publication offers a versatile framework for:
Translating enterprise process drivers into anticipated advantages and explains the next composition of a software and venture portfolio which can notice anticipated benefits
Planning the advantages recognition anticipated from courses and tasks after which making it happen
Keeping courses and initiatives on track
Reviewing and comparing the advantages accomplished or anticipated opposed to the unique baselines and the present expectations.
To support venture, application, and portfolio managers on their BRM trip, in addition to to aid enterprise managers in executing enterprise ideas, the e-book identifies key organizational duties and roles serious about BRM practices, and it presents an easy reference that may be mapped opposed to any organizational constitution. an in depth and finished case research illustrates each one part of the BRM framework because it hyperlinks company technique to undertaking paintings, merits, and enterprise worth. each one bankruptcy ends with a chain questions that offer a BRM self-assessment. The e-book concludes with a suite of templates and unique directions to make sure winning deployment of BRM.
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Additional info for Benefits Realization Management: Strategic Value from Portfolios, Programs, and Projects
Because of the relevance of strategy execution for business success, this section provides a brief overview on the evolution of some methods, models, and tools for the execution of business strategies. 8 Strategy Execution: A Conglomerate of Processes and Techniques Strategy Execution 19 among others, that are important to understanding the reasons why Benefits Realization Management has emerged as a key element that is instrumental for successful strategy execution. 1 Management by Objectives: Setting the Targets Strategy execution is a journey from a current situation to a future desired situation or vision, and then as any journey it requires a starting point as well as a desired future place.
Chapter 6—Realizing Benefits presents practices, tools, and techniques that are applicable to the planning benefits realization that is expected from programs and projects. These tools and techniques are used to execute program and project delivery with the focus on realizing expected benefits and making these benefits happen. Chapter 7—Reviewing and Evaluating Benefits presents practices, tools and techniques to keep programs and projects on track, as well as to review and evaluate the benefits achieved or expected against the original baselines and the current expectations.
Portfolios can be managed at an organisational or functional level (APM 2012, 240). Although the definitions are slightly different, all the references mentioned above recommend Project Portfolio Management as a set of processes that are instrumental to support organizations in ensuring the successful execution of the projects that are required by their business strategies (APM 2012; IPMA 2006; PMI® 2013c). There is no common consensus on a unique list of processes. Nevertheless, in order to enable an agnostic analysis of good practices, this books splits project portfolio management activities compiled from a variety of books, practitioners’ guides, and methodologies into the following four groups of processes.