(what organizations do that doesn’t work for them)
Implementing BS202002: Benefits management on
portfolios, programmes and projects
SERIES ARTICLE
By Dr. Hugo Minney
United Kingdom
Benefits are why we do projects. One of many benefits of benefits management is to “keep you off the rocks” – protect the organization from jeopardy (see Error! Reference source not found.). By making decisions to optimize benefits [1], whether that’s which projects we prioritize, or what decisions we take during project delivery, the organization should enjoy greater success.
Figure 1 The lighthouse shows you the way and keeps you off the rocks
There are well-established processes for effective benefits management, as described in the British standard BS202002[2]. However, many organizations and practitioners create their own processes and approaches, and not all lead to success – some might even lead an organization into a false sense of security. This article explores the “seven deadly sins of benefits management” – common practices that, if left unchecked, can lead to significant problems in realizing the true value of projects and programs, and even expose an organization to risk.
As we explore each of them, consider whether you’ve encountered them in your own professional experience. By recognizing these pitfalls, we can work towards more effective benefits management practices that drive real value for organizations.
- Shoot first, then name your target
One of the most pervasive issues in benefits management is the tendency to commit to projects before clearly defining their objectives and expected benefits. It’s almost as though projects are initiated – not because of a need – but because a visiting salesperson needs to sell you something (and yes, it feels the same for some of the nation’s megaprojects too!).
There are many arguments about why such a high proportion of projects “fail” [3]. Most relevant to this deadly sin is the complaint that many projects lack clear alignment with organizational strategy at the outset[4]. The project doesn’t happen in isolation, it happens in context, and the benefits express how each project aligns to its context (and in particular, how it contributes to achieving the organization’s objectives). Zwikael et al [4] emphasized the importance of establishing a “target benefit” as a key success factor for projects.
What is the benefits manager’s response to this sin?
As a benefits manager faced with this situation, your primary task is to uncover the real motivations behind the project, document them, and report them so the steering board or the organization’s investment board can consider if the project can justify its allocation of resources. This involves:
More…
To read entire report, click here
Editor’s note: The author Dr. Hugo Minney is a Fellow of APM (Association for Project Management), a Member of PMI and PMI UK, Co-Chair of APM’s Benefits and Value SIG, and committee member of PMI UK’s Sustainability Community of Action. For more, see his author profile at the end of this article.
How to cite this work: Minney, H. (2024). Seven Deadly Sins of benefits management (what organizations do that doesn’t work for them), Implementing BS202002: Benefits management on portfolios, programmes and projects, series article, PM World Journal, Volume XIII, Issue VIII, August. Available online at https://pmworldlibrary.net/wp-content/uploads/2024/08/pmwj144-Aug2024-Minney-Seven-Deadly-Sins-of-benefits-management.pdf
About the Author
Dr Hugo Minney
London, UK
Dr. Hugo Minney is a Fellow of APM (Association for Project Management), a Member of PMI and PMI UK, Co-Chair of APM’s Benefits and Value SIG and committee member of PMI UK’s Sustainability Community of Action (none of which are paid).
Minney set out to become a farmer, but was defeated by bureaucracy. He sold high ticket computer systems and specialist software for workforce planning; joined the National Health Service for 18 years (and as a Chief Executive for the last 7 of these), and is now a project management consultant with a sideline chairing a charity restoring the sense of community for young people.
Minney works in project management, and in particular benefits management, motivating team members by reporting what they are achieving together and changing the community and culture to want to achieve – together. At present, he’s more involved on the governance side, accredited as a Social Value practitioner and Chartered Project Professional, and reviewing the balance of projects and contribution to objectives and benefits across portfolios.
Dr. Minney can be contacted at hugo.minney@thesocialreturnco.org
To view previous works by Hugo Minney, visit his author showcase in the PM World Library at https://pmworldlibrary.net/authors/dr-hugo-minney/
