Managing Benefits™ Foundation & Practitioner - Classroom (exam included)

Defines the terminology used, what is meant by benefits and benefits management; reviews the track record of change initiatives in terms of benefits realization; cognitive biases affecting benefits management; and the objectives of benefits management.

Discuss the seven enabling factors or principles that represent the solid foundations for effective benefits management. They are:

Align benefits with strategy

Start with the end in mind

Utilise successful delivery methods

Integrate benefits with performance management

Manage benefits from a portfolio perspective

Apply effective governance

Develop a value culture

Introduces the Benefits Management Cycle, the organizational context in which it operates, and the constituent practices addressed in the following five modules. This module also addresses the barriers to, and the Key Success Characteristics of, practical approaches to benefits management. It also overviews the leading benefits management roles, responsibilities, and documentation.

The objective of this first practice is to lay the basis for informed options analysis, investment appraisal, and portfolio prioritization. We shall discuss various approaches to identifying benefits, including benefits discovery workshops, mapping and customer insight, and forecasting benefits. As well as problems typically faced and appropriate solutions.

Once identified and quantified, we look at why organizations value benefits in monetary terms; various approaches to valuing non-financial benefits in financial terms; the main approaches to initiative appraisal cost-benefit, real options, cost-effectiveness, and multi-criteria analysis; and the role of value management techniques.

Planning covers approaches to validating benefits; prioritizing benefits; managing the pre-transition phase; selecting benefits measures; benefits risk and opportunity management; planning effective stakeholder engagement; and an overview of the primary initiative-level benefits management documentation used in planning for benefits realization, and who prepares and maintains them.

Benefits seldom happen; there needs to be transition management; tracking and reporting, including surveys; and approaches to effective stakeholder engagement to win hearts and minds and deliver the behavioral change upon which benefits realization is often dependent.

The final practice looks at the importance of review as a basis for learning and continuous improvement before, during, and after the initiative.

Addresses why portfolio-based benefits management is so important and its main elements.

Successful benefits management is embedded into the culture of the organization. In this module, we look at how to start implementing benefits management and sustaining progress, including measuring impact and maturity.

Explains the format and expected content of the exam. Working as a group, we present and discuss typical questions in each possible style.

Discuss the application of the seven enabling factors or principles that represent the solid foundations for effective benefits management. They are:

Align benefits with strategy

Start with the end in mind

Utilise successful delivery methods

Integrate benefits with performance management

Manage benefits from a portfolio perspective

Apply effective governance

Develop a value culture

The objective of this first practice is to lay the basis for informed options analysis, investment appraisal, and portfolio prioritization. We shall discuss various approaches to identifying benefits, including benefits discovery workshops, mapping and customer insight, and forecasting benefits. As well as problems typically faced and appropriate solutions.

Once identified and quantified, we look at why organizations value benefits in monetary terms; various approaches to valuing non-financial benefits in financial terms; the main approaches to initiative appraisal cost-benefit, real options, cost-effectiveness, and multi-criteria analysis; and the role of value management techniques.

Here we shall do practical exercises to check our understanding of applying the various methods.

We will talk about the various roles, responsibilities, and documentation required of a sound benefits management environment.

Benefits seldom happen; there needs to be transition management; tracking and reporting, including surveys; and approaches to effective stakeholder engagement to win hearts and minds and deliver the behavioral change upon which benefits realization is often dependent.

The final practice looks at the importance of review as a basis for learning and continuous improvement before, during, and after the initiative.

Addresses why portfolio-based benefits management is so important and its main elements. The portfolio is a permanent function within organizations and manages benefits before and after change initiatives and their individual and collective performance.

Planning covers approaches to validating benefits; prioritizing benefits; managing the pre-transition phase; selecting benefits measures; benefits risk and opportunity management; planning effective stakeholder engagement; and an overview of the primary initiative-level benefits management documentation used in planning for benefits realization, and who prepares and maintains them. We shall discuss the various roles, responsibilities, and documentation required for sound benefits management environment.