Many organisations face a disconnect between agreed-upon business goals and the actual realisation of benefits. Bridging this gap is the essence of benefits realisation – an approach we explore in this blog.
Benefits planning and realisation (BPR) is a powerful tool to equip you with the skills and knowledge needed to drive impactful business change within your organisation. In this blog, we will delve into the benefits and how the acquired skills can be applied across diverse industries.
What is Benefits Planning and Realisation?
In essence, BPR is a strategic process that involves systematically identifying, quantifying and managing the anticipated advantages associated with business and information system changes, seeking to connect organisational goals with actual benefits by using effective planning, monitoring and continuous improvement.
Why It Matters To You
Benefits realisation is vital for getting the best value from your business change initiatives, ensuring cost-effective delivery of solutions and services. Two types of benefit are: business benefits, for example increased revenue, contributing to financial value and intermediate benefits, such as enhanced business processes or customer service, which don’t immediately create value.
Benefits planning and realisation doesn’t end at the delivery of your project either. It has a lifecycle that extends beyond the implementation, you must decide whether to continue, increase, reduce or stop.
This ongoing lifecycle management practice is where many organisations fail. Often, a business change project will be closed after all the activities in the program have been completed. But, remember, some benefits are intangible and do not correlate to direct financial value. Some benefits are not realised until much later, long after you have delivered the solution. Hence, managing the lifecycle will help you understand how your business realises its benefits.
An article written by Carlos Eduardo Martins Serra and Martin Kunc in 2015 examined the project success rates within organisations surveyed in Brazil, the UK and the USA, focusing on the implementation of benefits realisation management (BRM) practices with the primary goal of assessing the correlation between BRM practices and the perceived success of projects.
Their research concluded that when companies implemented a benefits planning and realisation strategy, it had a high influence over project success from the perspective of creating value and complementing the use of other project, programme and portfolio management practices.
Why Choose Amatis Training?
We have designed the BCS Benefits Planning and Realisation training course to provide participants with a comprehensive understanding of the benefits management process, from initial planning to successful realisation. Facilitated by industry experts, our BCS-accredited course covers all the essential concepts such as identifying drivers and benefits, building a business case, how to successfully influence your stakeholders and implementing your project whilst continuing to manage the benefits, as well as mitigating any potential risks.
Who is this Training Course For?
This training course is suited to professionals across various roles and levels within organisations. Whether you are a project manager, a business analyst, a strategist, or an executive involved in decision-making, our BCS Benefits Planning and Realisation training course caters to a broad audience. It is particularly beneficial for those seeking to enhance their skills in aligning business objectives with successful outcomes.
The Best Bit!
This training course can be delivered in any way to suit you and your team. We can deliver this course on-site, online via Zoom or we offer the flexibility of learning by self-studying. With each of these 3 options, you have the benefit of using our free Amatis App which our learners tell us has been a life-saver. See what Maddie and Haydn have to say!
How to find out more?
We understand you might want to find out more, so we’ve got a wealth of information and reviews that might answer some of your questions:
- do check out Wendy’s review, here,
- our course brochure can be downloaded here
- our course webpage here.
If you’d like a chat on the phone, feel free to call Martin on +44 (0)1225 836 084.
Our next online Benefits Planning and Realisation training course is scheduled for 12th, 13th & 14th February 2024.
Investing in this training can pave the way for a more strategic, informed and successful approach to business change and the team at Amatis Training would be honoured to help you kickstart your journey, ensuring you have all the tools and resources required to implement a successful benefits planning and realisation strategy.