Managing Benefits™ Foundation - Classroom (exam included)
1.850,00 EUR
- 2 days
Managing Benefits™ provides managers and practitioners from multiple disciplines working in various organizations with generally applicable guidance encompassing benefits management principles, practices, and techniques that enable organizations to optimize the return from their investments in change.
Course Outline
Overview, What is Benefits Management?
Module 01
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.
The Benefits Management Principles
Module 02
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
The Benefits Management Cycle
Module 03
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.
Benefits Management Practice 1 - Identify and Quantify
Module 04
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.
Benefits Management Practice 2 - Value and Appraise
Module 05
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.
Benefits Management Practice 3 - Plan
Module 06
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 Management Practice 4 - Realize
Module 07
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.
Benefits Management Practice 5 - Review
Module 08
The final practice looks at the importance of review as a basis for learning and continuous improvement before, during, and after the initiative.
Portfolio-based Application of Benefits Management
Module 09
Addresses why portfolio-based benefits management is so important and its main elements.
Implementing and Sustaining Progress
Module 10
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.
Exam Format
Exam Information
All delegates will be allowed to sit the Managing Benefits Foundation examination in the late afternoon of the third day of the course. The Managing Benefits Foundation exam consists of the following:
- 50 multiple-choice questions
- 40 minutes
- Closed-book
- Candidates require a minimum of 25 correct answers (50%) to pass.
Learning Outcomes
This foundation-level course aims to enable delegates to understand the benefits of management principles, practices, techniques, roles, responsibilities, and documents. Specifically, to know and understand the following:
Definitions, scope, and objectives of benefits management, barriers to its effective practice, and the key success characteristics
Principles upon which successful approaches of benefits managements are based
Five practices contained within the Benefits Management Cycle and relevant techniques applicable to each practice
Key elements of portfolio-based benefits management
Scope of key roles and responsibilities for benefits management and the typical contents of the primary benefits management documentation
The various approaches to implementation and the factors to consider in sustaining progress
Who Should Enroll in this Program?
Change Leaders (e.g. senior responsible owners and directors of change)
Change Initiators (e.g. strategic planners and policy leads)
Change Appraisers and Evaluators (e.g. business case developers and project appraisers)
Change Implementers and Enablers (e.g. portfolio, program, and project managers)
Change Support Staff (e.g. portfolio, program, and project managers)
Business Case writers and project appraisers
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