Introduction:

Benefits Realization Management (BRM) is a strategic approach that focuses on ensuring that the intended benefits of a project, program, or initiative are delivered and sustained. This 5-day training course provides an in-depth understanding of the BRM framework, guiding participants on how to identify, plan, manage, and measure benefits throughout the lifecycle of a project or program. The course combines theoretical principles with practical tools and techniques for effective benefits realization, helping organizations maximize value, improve decision-making, and achieve long-term success. Through case studies and hands-on exercises, participants will learn how to align project objectives with organizational goals and deliver measurable outcomes.

Objectives:

By the end of this course, participants will:

1. Understand the principles and importance of Benefits Realization Management in project and program management.
2. Learn how to identify, define, and map benefits to align with strategic objectives.
3. Develop skills to plan, track, and measure benefits throughout the lifecycle of a project or program.
4. Learn to apply tools and techniques to ensure that benefits are realized, managed, and sustained post-project.
5. Understand how to engage stakeholders and manage their expectations related to benefits realization.
6. Gain practical experience in creating a Benefits Realization Plan and implementing it effectively.
7. Learn about common challenges in benefits realization and how to address them.

Who Should Attend:

This course is ideal for professionals involved in managing, leading, or supporting projects and programs, including:

• Project Managers and Program Managers
• Portfolio Managers
• Senior Executives and Strategic Planners
• Business Analysts and Consultants
• Change Management Professionals
• PMO (Project Management Office) Staff
• Anyone responsible for delivering or measuring value from projects or programs

Course Outline:

Day 1: Introduction to Benefits Realization Management

• Session 1: Understanding Benefits Realization Management
  • Definition and Key Concepts of Benefits Realization Management (BRM)
  • The Role of BRM in Project and Program Management
  • The Relationship Between BRM and Organizational Strategy
  • The Benefits Realization Lifecycle
• Session 2: The Importance of Benefits in Project and Program Success
  • Aligning Project Objectives with Strategic Business Goals
  • Why Benefits Are More Important Than Deliverables: Focusing on Outcomes
  • The Role of BRM in Enhancing Decision-Making and Accountability
• Session 3: Key Principles and Practices of BRM
  • Identifying, Defining, and Mapping Benefits
  • Benefit Categories: Tangible vs. Intangible Benefits
  • The Concept of “Realized Value” and Measuring Success
• Activity: Group Discussion – Identifying Benefits in Real-World Projects

Day 2: Identifying and Defining Benefits

• Session 1: Defining Benefits and Their Alignment with Strategy
  • Techniques for Identifying Benefits at the Start of a Project or Program
  • Defining SMART Benefits: Specific, Measurable, Achievable, Relevant, and Time-bound
  • Benefits Mapping: Linking Benefits to Strategic Objectives and Goals
• Session 2: Benefits Management in the Project Lifecycle
  • Benefits Realization at Different Project Phases: Initiation, Planning, Execution, and Closure
  • Developing a Benefits Management Strategy and Roadmap
  • The Role of Stakeholder Engagement in Benefits Identification and Definition
• Session 3: Building the Benefits Realization Plan
  • Key Components of a Benefits Realization Plan: Objectives, Benefits, Stakeholders, Metrics, and KPIs
  • Tools and Techniques for Documenting and Tracking Benefits
  • Roles and Responsibilities in the Benefits Realization Process
• Activity: Workshop – Creating a Benefits Realization Plan for a Sample Project

Day 3: Planning, Tracking, and Measuring Benefits

• Session 1: Planning Benefits Realization
  • Key Steps in Benefits Realization Planning: Benefits Identification, Prioritization, and Integration
  • Setting Targets and Defining Metrics for Measuring Benefits
  • Risk Management in Benefits Realization: Anticipating Challenges and Barriers
• Session 2: Tracking and Monitoring Benefits
  • Developing a Benefits Tracking System: Tools, Techniques, and Templates
  • Benefits Dashboards and Reporting: Visualizing Progress and Status
  • Engaging Stakeholders Through Regular Updates and Reports
• Session 3: Measuring and Evaluating Benefits
  • Techniques for Measuring Benefits: Quantitative and Qualitative Approaches
  • Evaluating the Realized Benefits Against Targets and Expectations
  • Benefits Sustainment: Ensuring Long-Term Impact and Value Delivery
• Activity: Hands-on Exercise – Creating a Benefits Tracking and Monitoring Dashboard

Day 4: Engaging Stakeholders and Managing Expectations

• Session 1: Stakeholder Engagement in BRM
  • Identifying Key Stakeholders and Their Role in Benefits Realization
  • Communicating Benefits and Expectations: Keeping Stakeholders Informed
  • Strategies for Managing Stakeholder Buy-In and Support for Benefits Realization
• Session 2: Aligning Stakeholder Interests and Expectations
  • The Importance of Setting Clear Expectations for Benefits
  • Managing Conflicting Expectations and Balancing Short-Term and Long-Term Goals
  • Techniques for Negotiating Benefits with Stakeholders
• Session 3: Benefits Realization Leadership and Governance
  • The Role of Leadership in Driving Benefits Realization
  • Establishing a Governance Framework for Benefits Management
  • Best Practices for Leadership in Benefits Realization
• Activity: Group Discussion – Engaging Stakeholders in Benefits Realization

Day 5: Overcoming Challenges and Future Trends in BRM

• Session 1: Common Challenges in Benefits Realization
  • Identifying and Overcoming Barriers to Benefits Delivery
  • Dealing with Changes in Scope, Resources, and Timelines
  • Addressing Misalignment Between Project Deliverables and Organizational Goals
• Session 2: Lessons Learned and Best Practices in BRM
  • Real-World Case Studies: Successes and Failures in Benefits Realization
  • Applying BRM Best Practices to Improve Project Outcomes
  • Continuous Improvement in Benefits Realization Processes
• Session 3: The Future of Benefits Realization Management
  • Emerging Trends in Benefits Realization and Value Delivery
  • The Role of Technology and Automation in BRM
  • The Integration of BRM with Portfolio, Program, and Project Management
• Activity: Group Exercise – Identifying Future Trends and Innovations in Benefits Realization

Course Delivery:

• Interactive Lectures: Detailed theoretical sessions on the principles, methods, and tools of Benefits Realization Management.
• Hands-on Workshops: Practical exercises, including benefits mapping, planning, and monitoring.
• Case Studies: Real-world examples to illustrate successful BRM implementation and common challenges.
• Group Discussions: Collaborative problem-solving and knowledge sharing among participants.
• Tools and Templates: Practical tools, templates, and frameworks for creating Benefits Realization Plans and tracking benefits.