Many projects are delivering solutions for business needs but often we find that the full value of the delivery is not realised. In a project or product context, usually we are building (or changing) something with the purpose of enabling value for a range of stakeholders. The value that is enabled may vary for each stakeholder group. For example upgrading a trading software to the latest version might improve efficiency while also increasing profitability through new markets for the business. Delivery of the project or product is just as important as realising the benefits promised. Projects should therefore focus time and effort to ensure all value delivered by the project is enabled and benefits are realised. Below are some tips I have found helpful for making value enablement a reality.
Long-term Vision Alignment
Projects with elongated timelines must regularly and continuously align the project objectives with the organization's long-term vision and strategic goals to ensure that it continues to deliver value in alignment with broader priorities. This can be done within steering groups or any project governance structures that have been established.
Communication and Engagement
When a project team goes away for months without communication, involvement or engagement with the stakeholders, there is a tendency for stakeholders to lose interest and this can inhibit progress when it is time for acceptance and value enablement. Avoid this by maintaining open lines of communication with stakeholders to keep them informed about the project's progress and any updates or changes. Engage stakeholders regularly to gather feedback and address concerns proactively.
Celebrating Successes
This is particularly important for projects that deliver incrementally. While you may not have delivered the full product yet, celebrate every milestone you reach. Recognise and celebrate the achievements and milestones of the project to maintain momentum and motivation among team members and stakeholders. This is also another way to achieve engagement with stakeholders.
Training and Support
Prepare for and provide training sessions to end-users and support staff to ensure they understand how to use the project deliverables effectively. This is very important for embedding change and realising benefits. Offer ongoing or at least Early Life Support to address any issues or questions that may arise as a result of your project deliverables. When users don't know how to use the systems or the processes you have delivered, there is a very real risk that they may devise other ways around any issues they are facing just to get their jobs done. Remember end-users are not responsible for benefits realisation. They simply want to get the job done.
Post-Implementation Review
Conduct a thorough review after the project completion or after each delivery phase to assess its success, identify any shortcomings which may prevent full benefit realisation, and gather feedback from stakeholders. Use this information to make necessary adjustments and improvements that ensures the delivery lives up to its full potential.
Plan for Benefits Realisation
This is arguably the most important tip. A benefits realisation plan serves as a roadmap for achieving and maximising the value of a project. It helps to guide our efforts towards tangible outcomes and ensures that investments deliver the expected benefits to the organisation. It outlines the specific benefits the project aims to deliver and when we can expect the specific benefits to be actualised, allowing stakeholders to understand the intended outcomes and monitor progress effectively. It is also provides a framework which will enable us define accountability and ownership for each benefit to be delivered
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