The Benefits Review brings the project sponsor together with other key stakeholders in a project 3-6 months after launch / live date (this can be varied).
The review tackles a specific project from the organisation exploring:
- Benefits realised (planned / unexpected)
- Planned benefits not yet realised
- Opportunities for action to obtain further benefits
- Lessons learned for further work in this area and on other projects.
Lessons learned and good practices can be captured as additional or revised elements of the benefits realisation toolkit. The review is a major opportunity for learning.
Using the Benefits Review: the Benefits Review should be applied post project – ‘did the project deliver and what can be done to increase the benefits realised?’ It can also be used mid – project – is the project on course to deliver benefits and what can be done to increase benefits realisation; or pre-project – is the project clearly focused on benefits realisation and ready to go?
Making a start: piloting the Benefits Review is often a good place to start. There will usually be a number of suitable projects that have recently completed. The review will provide benefits for the specific projects as well as providing insights into wider issues and the priorities for action to improve benefits realisation across the portfolio. These pilot reviews can be linked with the Transformation Capability Assessment.
Our services: effective Benefits Review is a key driver of learning and improvement. It can be applied at any stage of a project. We can help you pilot Benefits Reviews and they form an important component of our leadership programmes.