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Managing Benefits™ study guide mind map by Mind Map: Managing Benefits™ study guide mind map
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Managing Benefits™ study guide mind map

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Roles

Senior Responsible Owner (SRO)

Directors of Change

Strategic Planners

Policy Leads

Change appraisers and evaluators

Change implementers / enablers

Change support staff

Benefits Owner

Benefits Management Principles (7)

1. Alight benefits with strategy

2. Start with the end in mind

3. Utilize 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

Themes (9)

1. Principles themselves are integral to effective benefits management

2. Practices should therefore be tailored to the local circumstances

3. The 5 practices in the Benefits Management Cycle are broadly sequential but are characterized by iterative feedback loops

KSF of Effective Benefits Management (6)

Active

Evidence-based

Transparent

Benefits-led

Forward-looking

Managed across the full business change

The Benefits Management Model

consists of:

Benefits

Benefits should be the driver behind all change initiatives

Each benefits should be measured at least with one measure, preferably suite of measures (in order to create “rich picture” from multiple perspectives):

Benefits contribute towards organizational/strategic objectives (benefits are identifiable and quantifiable in terms that link to the drivers of the organizational/strategic objectives)

Benefits are measurable and observable

Benefits are tangible (easy to measure) or intangible (not so easy to measure)

Benefits are identifiable and quantifiable

Benefits should have baselines

Benefits should have priorities

Benefits are an advantage to stakeholders (internal en external to the organization)

Benefits are derived from change initiatives (formally constituted projects and programmes)

Benefits can be automatic (same service for lower costs) or (mostly) manual (deliberate management action)

Benefits types:

Mostly chain of intermediate benefits is linked to the end benefits, but in many cases intermediate benefits don’t automatically lead to the end benefits

Benefits Management

Benefits management should be coordinated with, and wherever possible integrated into, the wider organization’s context

Benefits management seeks to optimize rather than maximize benefits realization

Benefits management is a process that runs across the full business change lifecycle

Do not treat benefits management as a separate discipline

Objectives:

Managing Benefits Guide can be seen as a manifesto towards change:

Why do we need Benefits Management profession? (examples of unsuccessful outcomes)

Cognitive bias when overpredicting benefits

Techniques

'In-flight' benefit reviews

Benefits Measurement Taxonomy

Benefits contracts

Benefits discovery workshops

Benefits mapping

Benefits quantification workshops

Booking the benefits

Champion-challenger model

Clear line of sight

Conversion ratios

Cost-benefit analysis

Cost-effectiveness analysis

Customer insight

Decision conferencing

Delphi techniques

Driver-based analysis

Health-check assessment

Investment logic mapping

Journey mapping

Management by exception

Multi-criteria analysis

One version of the truth

Optimism bias adjustments

P3M3

PESTLE analysis

Pair-wise comparisions

Pareto rule

Post-investment review

Pre-mortems

Real options analysis

Reference class forecasting

Rich picture

SWOT analysis

Scout and beacon approach

Sensitivity and scenario analysis

Stage / phase gate reviews and 'staged' release of funding

Stakeholder segmentation and analysis

Start gate

Stochastic forecasting (including Monte Carlo simulation and three-point estimating)

The 'dog that didn't bark' test

Willingness to pay and Willingness to accept

The Benefits Management Cycle

The Benefits Management Cycle consists of 5 practices

Practices (5)

Interactive Glossary

Interactive Managing Benefits™ Glossary

This freeware, non-commercial mind map (aligned with the newest version of Managing Benefits™) was carefully hand crafted with passion and love for learning and constant improvement as well for promotion the Managing Benefits™ standard and as a learning tool for candidates wanting to gain Managing Benefits™ qualification. (please share, like and give feedback - your feedback and comments are my main motivation for further elaboration. THX!)

Questions / issues / errors? What do you think about my work? Your comments are highly appreciated. Please don't hesitate to contact me for :-) Mirosław Dąbrowski, Poland/Warsaw.

Map is under development, current state is an early ALPHA

Watch: The Launch of Managing Benefits