Nov 7, 2016

Shift the Focus to Benefits Now: A Report from the PMO Symposium

Posted by J. Kent Crawford | 0 Comments

Try the demo of our new BRM diagnostic tool.

The annual PMO Symposium has kicked off and we could not have had a better starting gate than the presentation that expanded on PMI’s research into benefits realization. That this is the focus and the kickoff of the Symposium is so appropriate, because it ties right into what we believe to be the principal theme of systemic benefits realization management (BRM) : “begin with the end (benefits) in mind.”

It’s long past time that organizations began to put strategy execution ahead of every other priority, and benefits realization is strategy execution in action. PMI published some excellent research on this topic this year, but one thing that surprised me in today’s presentation was the indication that 93% of companies they surveyed said they had some form of BRM in pace (although most of them confessed they were not actually using it). This does not jive with what we have found in interviewing clients and consultants who have experience with BRM. Indeed, our about-to-be-released study The State of the PMO 2016 shows that while best-in-class PMOs perform benefits management, most PMOs do not. This is more pressing than ever, given that one of the data points covered in the presentation here today was that companies with mature BRM practices were 1.6 times more likely to realize project objectives.

What about you? take advantage of the opportunity to assess your organization's BRM capabilities by participating in the demo of our new tool: we arKent Crawford and Matt Crawford at the PMO Symposium 2016e offering a preview of it during the symposium. Check it out here.

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