Managing Benefits

Managing Benefits aligned to Portfolio Management – a model from Yellowhouse

Seeking some guidance on how to apply benefits management at a portfolio level, as well as at an individual project or programme level?
 
Managing Benefits at Portfolio level
I’m a big fan of the new “Managing Benefits” guide by Steve Jenner and the alignment to the UK “Management of Portfolios” guide. We are now teaching and consulting with both models and the opportunities to align benefits with strategic planning is very clear.
 
The mindmap lists the core elements and we integrate these into training and consulting to get best results.
 
Managing Benefits™: 7 Principles
1.      Align Benefits with Strategy
2.      Start with the end in mind
3.      Utilise successful delivery methods
4.      Integrate benefits with Performance Management
5.      Manage Benefits from a Portfolio Perspective
6.      Apply Effective Governance
7.      Develop a Value Culture
Managing Benefits™: The Benefits Management Cycle
1.      Identify and Quantify Benefits
2.      Value and Appraise Benefits
3.      Plan Benefits
4.      Realize Benefits
5.      Review Benefits 
 
Management of Portfolios: MoP® Principles
1.      Senior Management Commitment
2.      Governance Alignment
3.      Strategy Alignment
4.      Portfolio Office
5.      Energized Change Culture
Management of Portfolios: MoP® Definition Cycle
1.      Understand
2.      Categorise
3.      Prioritise
4.      Balance
5.      Plan
Management of Portfolios: MoP® Delivery Cycle
1.      Management Control
2.      Benefits Management
3.      Financial Management
4.      Risk Management
5.      Stakeholder Engagement
6.      Organizational Governance
7.      Resource Management
 
Management of Portfolios: Assessment with P3M3®
The MoP Delivery cycle aligns with the P3M3 Maturity assessment framework for growth and stability
 
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