Other Views by this Author:
|
Benefit realisation needs fOCUS
So many changes or projects are deemed to be failures. Often blame for failure is directed at a project, creating the general perception that projects have a high failure rate; surveys show that this perception that has not and is not improving.
The benefit function is a framework that helps prepare and plan for change, manage the consistency of the components and to assess the outcome. It is defined as
f(B) = f(OxCxU+S)
where
B is the realised benefit;
O is the opportunity;
C is the capability to satisfy that opportunity;
U is the utilisation of that capability; and
S is the the synergy that can be generated
The main element of the benefit function is a product; if any one of O, C or U are poor or absent then the main part element of the function will also be poor or absent. S, the synergy element, is the bonus that happens when this change works with one or more
other changes and only then.
Successful and lasting change must be based upon a framework that is easily accessible to a wide stakeholder community and one that can quickly be seen as both pragmatic and effective, rather than difficult and ineffective.
The first use of the function is to recognise that there are four discrete components that need to be owned and managed. Explore them in sequence, cycling back for if you need to, until the picture is clear.
| More on this Interest Area
| More on this View
|
|
|
