PPM Benefits Realisation Process

In this task, you will identify and document the potential benefits that can be achieved through the project. Consider how the project aligns with organizational goals and objectives. What positive outcomes could result from the successful completion of the project? Explore both tangible and intangible benefits, such as cost savings, increased productivity, improved customer satisfaction, or enhanced reputation.

This task involves quantifying and categorizing each identified benefit to provide a clear understanding of its monetary value and its alignment with specific categories. Assigning monetary values and categories will facilitate further analysis and evaluation of the benefits.

In this task, you will identify the key performance indicators (KPIs) that will be used to measure the progress and success of each benefit. KPIs are quantifiable metrics that indicate whether a specific benefit has been achieved or not. The KPIs should be aligned with the objectives of the project and provide meaningful insights into the performance of each benefit.

This task involves recording the baseline values of the identified KPIs before the project begins. Baseline values serve as a reference point against which the progress of the project can be measured. By establishing baselines, you can assess the impact of the project on the identified benefits and determine whether the desired improvements have been achieved.

In this task, you will create a comprehensive benefits realisation plan that outlines the steps, timeline, and resources required to achieve the identified benefits. The plan should include specific actions, responsible parties, and milestones to ensure a structured approach to benefit realization.

This task involves executing the project plan and actively working towards achieving the identified benefits. Ensure that the project is being implemented according to the defined schedule, and the necessary resources and stakeholders are engaged to successfully deliver the desired outcomes.

In this task, you will regularly monitor and report on the progress of the identified benefits using the established KPIs. This monitoring ensures that the project is on track and provides an opportunity to identify and address any issues or deviations from the plan.

This task involves analyzing any variances between the actual progress and the planned progress as per the benefits realization plan. Identify the root causes of the variances and develop appropriate corrective actions to address them. Take into account any risks and challenges faced during the project execution and find ways to mitigate them.

In this task, you will review and update the benefits realisation plan based on the analysis of variances and any changes in the project scope or objectives. Ensure that the plan reflects the current status of the project and the adjustments required to achieve the identified benefits.

This task involves formally closing the project and concluding all project activities. It includes completing project documentation, conducting final reviews, archiving project files, and transitioning any ongoing activities to the appropriate stakeholders or teams. The closure ensures that all project deliverables have been achieved, and the benefits have been realized.

In this task, you will conduct a post-project review and analysis to evaluate the overall success of the project and the achievement of the identified benefits. Reflect on the project's strengths, weaknesses, lessons learned, and areas for improvement. Identify best practices that can be applied to future projects to enhance benefits realization.

This task involves measuring the actual realization of the identified benefits after the project closure. Compare the baseline values with the actual values achieved to assess the effectiveness and success of the project in delivering the desired benefits.

This task focuses on comparing the actual realized benefits with the planned benefits identified earlier in the process. Analyze any deviations and understand the reasons behind them. This analysis will aid in understanding the effectiveness of the benefits realization process and highlight any areas for improvement.

In this task, you will document and communicate the achievement of the benefits realized through the project. This documentation and communication will help in acknowledging the project's success and demonstrating the value delivered to the relevant stakeholders and the organization as a whole.

In this task, you will identify the lessons learned from the project that can be applied to future projects. Reflect on the challenges faced, successful strategies implemented, and any other insights gained during the project. Documenting these lessons learned will contribute to continuous improvement and optimization of future projects.