I’ve changed my mind about benefits realization. We (PMs) should do it.
I used to believe that PMs are responsible for the Triple Tradeoff, scope, cost and time. We didn’t, typically, get involved in choosing the projects. And we are, typically, not involved in what happens after we deliver the project (all scope, on budget on time, of course).
I first changed my mind about the Triple Tradeoff. I now deliver projects with the goal of maximizing value to the organization Maximizing value is more important than budget and schedule. Now I’ve changed my mind about benefits realization.
Most Organizations Don’t Measure Benefits. I assumed that someone else, somewhere else was measuring whether the project actually achieved the benefits detailed in the business case analysis. I now believe they don’t. Projects are delivered and some, many?, fail to deliver. Organizations don’t know. Without this data, they are likely to continue investing in low value-add projects.
Project Management Offices (PMOs) or PMs should lead the effort to determine if benefits are realized. Organizations need this data. PMOs are in a great position to get it. They have the tools to do it. They know about all the projects an organization is doing and has done. And PMOs are frequently less political – they don’t have biases towards treating finance projects better than HR projects for example. They can be neutral.