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Member You - Intranet - The Benefits Realisation Plan
The best way to ensure you get stellar results from your marketing is one that is overlooked surprisingly often: measure! When you first launch a marketing program, you may have to start by measuring activities, but eventually you’ll be able to measure results. Most importantly – and this is where a lot of measurement efforts fail -- you can measure progress against your plan.Here are a few guidelines to help you get started or to assess your current measuring system: Keep it simple – collect only data you’ll actually act on. With applications such as CRMs and web analytic programs, it’s easy to measure more than you really need to know. Just ask yourself this question: “What will I do with this information?” Make sure the data is collected in the same way all the time. If you’re trying to spot a trend, consistency is often more imp
The Case for a focus on Benefits Management
Recent research from the Cranfield University School of Management finds that 78% of IT-enabled change projects (in large UK companies) fail to deliver business benefits. 47% believed assessment of business benefits in business cases was poor or worse and 79% said that all the available benefits were not captured during that assessment. 45% believed benefits were ov
When embarking on a new quality management system and writing a new quality manual for your organization, one of the most important decisions to make is how your quality policy statement should read. A quality policy statement is a requirement of an ISO9001:2000 quality management system, and can be regarded as the general guiding philosophy of your company or organization.If you compare guiding a company to steering a ship, the nautical equivalent of a quality policy statement might be something like "We are going to sail to New York". This is a general statement of the overall goal. In your company's quality manual, you might say something like "Our goals are to achieve 100 percent customer satisfaction, constantly innovate in our products, and continually improve in all our activities". How can you steer the ship if you don't know where you want to go?The quality
A successful project is one that delivers on-spec (‘quality’), time and cost. Right? Well consider these two projects…
The Millennium Dome was delivered on time for the 31 December 1999 and safely within a budget (fixed in 1998) of ?289 million. The Project was also delivered to quality, albeit against a Specification that had been adjusted several times during the project to simplify the scope of work required (and ensure that time and cost deadlines could still be met). However, visitor number targets were greatly overestimated, the business a total flop and the whole endeavour deemed a failure by many.
The Millennium Wheel (or “London Eye”) opened one month late on a dreary February morning in 2000 (following problems raising the wheel and then safety & quality issues with one of the 32 pods). It was also over budget, with building costs of ?70m (against the ?25m British Airways had originally planned to spend). However, an average of about 10,000 people a day now ride the wheel, making the London Eye the UK’s biggest tourist attraction (and generating ?15 million of trading profit a year) - a healthy return on investment for the shareholders.
A New Mindset for Change Projects
Traditional methodologies for change / project management (of which PRINCE is an example) tend to focus primarily on time, cost and quality. Benefits are all too often only implicitly recognised and the accountability for realising them is assumed to lie outside the project.
However, the pace of change within our society, industry and business grows ever faster. Somewhat paradoxically, there is an ever-greater need to ensure that changes ‘stick’ (delivering sustainable benefit and competitive advantage to the organisations making them). Most businesses have already achieved greater efficiency and effectiveness within single functions or processes; The challenge of the 21st Century is increasingly how to realise end-to-end change across a boundary-less business.
Rarely (these days) will a single customer sponsor a single project, delivering a single system into a single department.
The leadership challenge is thus how to engage multiple sponsors and change agents across the whole business to deliver excellence in change and the ruthless pursuit of business benefits and true return on investment (ROI).
The Case for a focus on Benefits Management
Recent research from the Cranfield University School of Management finds that 78% of IT-enabled change projects (in large UK companies) fail to deliver business benefits. 47% believed assessment of business benefits in business cases was poor or worse and 79% said that all the available benefits were not captured during that assessment. 45% believed benefits were ove
In the last couple of years, the amount of blogs functioning around the internet has increased dramatically. This is for a couple of reasons. For one, a lot of people like writing and find the best way to express their thoughts and get their opinion heard is by blogging. However, what is becoming increasingly more popular are webmasters and online businessmen starting blogs to advertise their company or service. They use blogs to show their new products, create a web presence and above all to show customers that they really know what they’re talking about. And with web services such as Blogger and Wordpress, creating a blog online is easier than ever. However, with increasing number of blogs comes increased competition, and a lot of bloggers are starting to find their blogs aren’t able to compete. Therefore, if you are thinking of starting a blog now, make sure you bear the
The Millennium Wheel (or “London Eye”) opened one month late on a dreary February morning in 2000 (following problems raising the wheel and then safety & quality issues with one of the 32 pods). It was also over budget, with building costs of ?70m (against the ?25m British Airways had originally planned to spend). However, an average of about 10,000 people a day now ride the wheel, making the London Eye the UK’s biggest tourist attraction (and generating ?15 million of trading profit a year) - a healthy return on investment for the shareholders.
A New Mindset for Change Projects
Traditional methodologies for change / project management (of which PRINCE is an example) tend to focus primarily on time, cost and quality. Benefits are all too often only implicitly recognised and the accountability for realising them is assumed to lie outside the project.
However, the pace of change within our society, industry and business grows ever faster. Somewhat paradoxically, there is an ever-greater need to ensure that changes ‘stick’ (delivering sustainable benefit and competitive advantage to the organisations making them). Most businesses have already achieved greater efficiency and effectiveness within single functions or processes; The challenge of the 21st Century is increasingly how to realise end-to-end change across a boundary-less business.
Rarely (these days) will a single customer sponsor a single project, delivering a single system into a single department.
The leadership challenge is thus how to engage multiple sponsors and change agents across the whole business to deliver excellence in change and the ruthless pursuit of business benefits and true return on investment (ROI).
The Case for a focus on Benefits Management
Recent research from the Cranfield University School of Management finds that 78% of IT-enabled change projects (in large UK companies) fail to deliver business benefits. 47% believed assessment of business benefits in business cases was poor or worse and 79% said that all the available benefits were not captured during that assessment. 45% believed benefits were ov
As a kid my Dad was always self employed and was always involved in some kind of entrepreneurial venture, as a result our financial situation was never what I thought was stable. I swore that I would Find a stable career and stick to it.Well my attitude has changed drastically over the years. I have spent a great deal of time working in a so called stable profession, bringing home a paycheck every other week etc. After several years of doing this I realized that my stable lifestyle was not so stable. As the years tick away one tends to think more and more about acquired wealth and your ability to weather retirement.The typical middle class employee today cannot expect the same bounties enjoyed by our parents and grand parents. Most companies are woefully behind when it comes to keeping wage increases compatible with yearly cost of living reports. Also on averag
A New Mindset for Change Projects
Traditional methodologies for change / project management (of which PRINCE is an example) tend to focus primarily on time, cost and quality. Benefits are all too often only implicitly recognised and the accountability for realising them is assumed to lie outside the project.
However, the pace of change within our society, industry and business grows ever faster. Somewhat paradoxically, there is an ever-greater need to ensure that changes ‘stick’ (delivering sustainable benefit and competitive advantage to the organisations making them). Most businesses have already achieved greater efficiency and effectiveness within single functions or processes; The challenge of the 21st Century is increasingly how to realise end-to-end change across a boundary-less business.
Rarely (these days) will a single customer sponsor a single project, delivering a single system into a single department.
The leadership challenge is thus how to engage multiple sponsors and change agents across the whole business to deliver excellence in change and the ruthless pursuit of business benefits and true return on investment (ROI).
The Case for a focus on Benefits Management
Recent research from the Cranfield University School of Management finds that 78% of IT-enabled change projects (in large UK companies) fail to deliver business benefits. 47% believed assessment of business benefits in business cases was poor or worse and 79% said that all the available benefits were not captured during that assessment. 45% believed benefits were ov
It is very unlikely that you will be able to create enough Ebook content to support an Ebook business. While there are ways to supplement this, the fact remains that most of the support will be selling the writings of others.So, what is in it for them? There are actually good reasons for an author to allow you to sell their Ebook from your site. Money is the primary, of course. You will still be paying them royalties from sales, and they hope that having multiple sites selling their work will increase the visibility of that work, bringing it to the attention of people who otherwise wouldn’t have seen it. This can result in an increase in sales greater than those your site alone provides. It also means that a problem at one site, such as a server failure or sudden crisis that forces a change in lifestyle won’t take their work off of the market entirely.Another p
Rarely (these days) will a single customer sponsor a single project, delivering a single system into a single department.
The leadership challenge is thus how to engage multiple sponsors and change agents across the whole business to deliver excellence in change and the ruthless pursuit of business benefits and true return on investment (ROI).
The Case for a focus on Benefits Management
Recent research from the Cranfield University School of Management finds that 78% of IT-enabled change projects (in large UK companies) fail to deliver business benefits. 47% believed assessment of business benefits in business cases was poor or worse and 79% said that all the available benefits were not captured during that assessment. 45% believed benefits were ov
If you have been out of work for quite a while, you have undoubtedly pursued a standard job search campaign: the unemployment office, newspaper classifieds, job fairs, online resources, agencies, networking, and cold calling.Just because something didn't work the first time, don't totally give up. A good salesman knows that even the best product is seldom purchased on the first pitch. Studies have shown that an offer needs to be presented an average of 5 to 8 times before the sale is closed.Go back through your notes, see what you've done and who you've contacted, then take a deep breath and start over with a fresh eye.1. The unemployment office.When was the last time you checked out all the listings? Chances are that you are receiving your check by mail and have been too busy going in other directions. Despite continued layoffs and geographic pockets o
The Case for a focus on Benefits Management
Recent research from the Cranfield University School of Management finds that 78% of IT-enabled change projects (in large UK companies) fail to deliver business benefits. 47% believed assessment of business benefits in business cases was poor or worse and 79% said that all the available benefits were not captured during that assessment. 45% believed benefits were overstated in their organisation to get investment approval.
Arguably, this will only change when project managers and their people become accountable for – and obsessed by - delivering business benefits and value through Change, rather than simply projects to time and cost.
Benefits Defined
Soft Benefits (sometime called “non-quantifiable” benefits) are those intangible improvements to be obtained from a change, including improved employee satisfaction, better customer satisfaction, increased knowledge sharing and re-use of intellectual capital. Whilst it is often accepted that such benefits do lead to financial gain, it is deemed impossible to demonstrate a proven causal link that would enable one to place a financial value on the benefit.
Direct Benefits are those which lead to a measurable impact on the bottom-line of the organisation, including increased revenue, reduced costs of sale / improved margin, operating cost reduction (e.g. through reduced headcount) and improvements in working capital (e.g. through a faster debt collection cycle). An individual or team can be held directly to account for achieving them and providing evidence of their realisation.
Indirect Benefits are those which facilitate or enable bottom-line impact, without leading directly to realisable items for which can individual or team had be held accountable. Such benefits include cost avoidance (i.e. costs not currently budgeted that might otherwise become payable) and capacity creation (where efficiency savings free up people to undertake high-value adding tasks but do lot lead directly to the release of FTEs or other costs).
The Benefit Realisation Toolset
In the Benefits Realisation & Tracking chapter of my (free to access) Intranet Portal Guide, I outline a number of tools that can be used to better manage benefits on the typical portal project.
1) An enhanced Business Case
Many business cases simply do not sufficiently reference Benefits. Make sure that you dedicate at least as many column-inches to benefits as you do to costs. Split benefits between soft, direct and indirect. Ensure that
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