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Consulting Project Management. The process includes managing projects to deliver the predicted benefits and, after the project has been implemented, checking progress on achieving these benefits and taking any actions required to enable their delivery. So when we asked respondents which project management processes added the most value when appropriately undertaken and which were most challenging to embed, it was no surprise that benefits realisation was reported as one of the most undervalued and most difficult processes to embed.
It is a common misconception that we must list as many anticipated benefits as possible in our business case to convince executives that our investment proposal should be authorised. Often, little thought is put into what the project team and broader organisation must do to turn this list of benefits into a reality. Once an initiative has been approved, it is not unusual for people to forget about some of the benefits documented in the business case until the project or programme is ready to be closed.
By this point, it is considered too late to take corrective action. This can make it challenging to recognise when a business case is no longer viable. Furthermore, delivery teams can work diligently to produce their outputs, discover later that no one in the organisation has followed through with using them, and measure and report any benefits realised during business-as-usual.
