A project is truly successful only if it delivers the benefits an organization envisions.
Mark Langley, PMI President and CEO
At first glance this sentence is awfully obvious to us project managers. But having good and successful benefits realization management and thereby turning this statement into a reality is what makes our job so hard. And rewarding.
So what exactly are benefits realisation and benefits realisation management? Is there a benefits management process and how does all of this fit into project benefits management?
How about if I let Dave L Davis (https://www.linkedin.com/in/dldavispmp) explain it all to you? He has authored one of the articles in that Pulse of the Profession report from where I took the earlier quote. The article is titled “The Benefits Management Journey” and serves as our guide.
We’ll learn what exactly benefits realization management is, review the process of implementing it on projects, meet the people involved, and we’ll even talk about tools.
And at the very end of this episode you’ll learn that even failings project have benefits
Are you using The PM Podcast to earn your PDUs? Then please make sure that you are using the correct PDU tracking logfile:
Download The PM Podcast PDU Logfile (XLSX) and track each episode you listen to. The better you document your learning activities the more you can give evidence to PMI that you have indeed subscribed and listened to The PM Podcast during an audit.
If you are a regular listener to The PM Podcast then you heard me say on many occasions that projects are the mechanism by which companies turn their vision and strategy into a reality. And it is us -- the project managers -- who are asked to bring these projects to a successful completion so that the business needs are met.
This means that we project managers need a great deal of business acumen and business awareness. But many of us are accidental project managers, who at some point in our career found ourselves to be quite shockingly thrust into the position of a project leader. We were taken by surprise back when that happened and now they suddenly tell us that we also need all this awareness?
Well, fear not because Bruce Harpham (https://ca.linkedin.com/in/bruceharpham and http://projectmanagementhacks.com) is here to tell you how to grow your business know-how as a project manager. In this interview we review what foundational skills you need, how to access internal business knowledge from your organization and how to look for information and trends in the broader environment outside the four walls of your company.
Our goal is to help you grow the situational awareness that you need day after day on your projects by adding business awareness.
We are going to review who PMO practitioners are, who they work for, what their professional development looks like, how PMOs are set up, what functions they provide, where in the organization they are located from a reporting perspective, we’ll hear some PMO thoughts and challenges, and finally, we are going to be talking about www.pmoflashmob.org.
To download your PDF copy of this report, please visit the Arras People website and Request the PMO Benchmark Report 2016. You are also going to be invited to fill in the survey for the next report.
Lindsay says about the report, that even after all this time of doing the research and seeing the changes over the years, it is hard not to be drawn to the fact that project management is still an exciting and growing field. The fact that projects are still failing suggests that even with all the effort and time expended we are still searching for that magic bullet which will ensure we deliver.
Of course, the report doesn’t give us this magic bullet, but it provides an interesting insight into what you and I are doing day after day.
There are two options for you to get a copy of this report:
The PMI Global Congress 2016 North America will take place at the end of September 2016 in San Diego. This video and the worksheet that goes with it will help you prepare and make the most out of attending the conference!
We project managers attend many conferences. And I remember quite clearly how disappointed I was after some of these project management conferences because I realized that I didn’t get as much out of them as I had hoped.
So I decided that instead of continuing to hope for more success, I would have to plan for it.
This video and the accompanying checklist contain my personal best practices for conference success. I hope that it will help you plan for a successful conference as well.
Please feel free to share any improvements ideas with me in the comment section below.
This episode is sponsored by The Agile PrepCast. PDU for PMP::
Joseph Flahiff, PMP, PMI-ACP
Decision making in project management can be hard. That is of course especially true if your decision making process is such that every decision you have to make must be passed up the command chain in your organization until finally someone up there has the time to review your input and make that project decision.
But what if there were an easier way for project management decision making?
We begin with a definition, look at what’s wrong with today’s decision making process, offer a way to make decisions simply by flipping a coin and then look at the proximal model in detail with lots of examples, tips and tricks. All with the goal that you can improve your project management decision making process.
This interview is 29:45 minutes long. This means that you can "legally" only claim 0.25 PDUs for listening to it. However... if you first listen to the interview and then also read the article on which it is based, then you can go ahead and claim 0.50 PDUs!
He not only says that the PMP salary you can expect is greater on average, but he also found many other PMP certification benefits. Having a shared vocabulary and enjoying a completely different and often steep career path are just two of them.
So if you are either already PMP certified or thinking about your own PMP Exam Prep and and wondering about the value of PMP certification, then this interview is definitely for you. Niraj and I explore the benefits of being or becoming a PMP from various aspects.
The good news is that Joseph is a prolific writer who has a number of articles on the topic. He reviews the concept from various angles and he also has a number of great examples of how he works with his customers to implement supportive leadership in their organizations and how he uses the concept as a project leader himself. You’ll be able to incorporate all of this as part of your own project leadership almost right away.
And of course we will also touch upon the main difference between supportive leadership and servant leadership. You’ll be just as surprised as I was.
We Recommend the following books and courses from our partners:
Do you need to know how to create a WBS? If so then The WBS Coach from Margaret Meloni is for you. Originally created by Josh Nankivel, this is the best WBS training that you will find.
The Project Management Answer Book is written by Jeff Furman and currently has a 5-star rating in Amazon. It is an excellent PMP Book that should be on the reading list of anyone preparing for the exam. We even have and interview with Jeff about his book. Click here to listen to the interview...
Disclaimer: We do not earn any commission by recommending these products.