Benefits Realization: Accelerate Time to Value

Often, benefits do not immediately accrue at the completion of an IT project. A period of stabilization is needed for the newly-enabled business process(es). Also, the workforce may need to be nurtured to drive adoption rates to the targeted levels.

In order to accelerate time to value, key process indicators and usage rates should be baselined prior to go-live and tracked immediately following. Techniques, such as Six Sigma, may be required to ensure delivery of the full business value by methodically eliminating defects that prevent world-class process performance.

References on benefits realization:

Via Planview: PlanView Announces Results of CIO Survey: Fortune 1000 Companies Say Benefits Realization a Key IT Challenge ...

... "Benefits realization is a key component to the clear communication of IT's contribution to the overall objectives of the organization. It begins with the strategic initiative and is reviewed in a disciplined cycle through funding, project definition and execution and product or service deployment to provable benefit realized. " ...

Via IBM: Reaching efficient frontiers in IT investment management ...

... "And measuring doesn’t end as soon as the project does. A key aspect of value realization is post-implementation evaluation to assess the actual benefit realization at future points in time. Initial project planning needs to include benefit assessment after the project has been delivered. " ...

Via DMReview: Managing a Breakthrough Data Warehousing Project ...

... "The trend for the 21st century is to manage portfolios of projects which include IT as a component, or intermediary outcome, of the entire life cycle from concept to benefits achievement. An effective project management methodology is needed to detail the planning process necessary to ensure the business objectives are met. " ...