Vertex seminar (08/06/98)

Transcript Vertex seminar (08/06/98)

British Computer Society 19 March 2007

'Embedding Benefit Realisation Management – Friends Provident’s experiences Ann Watts – Head of Business Development sigma

APPROACH TO EMBEDDING BRM PILOTS Prove BRM adds value TRAINING ENGAGEMENT

MENTORING

3 Key Steps taken

Step 1

• Ran 2 day in house BRM Practitoner Workshops - trained 57 people • Held awareness seminars for all Senior Managers, Heads of Dept, and Key people • Designed a BRM framework that was compatible with their Processes and Business Change Lifecycle created an ‘Embedding BRM Project’

Step 2

• Selected 6 strategic projects to pilot approach to BRM on • Secured buy-in to implementing BRM approach to all strategic and operational projects

Step 3

• Appointed a BRM Development Manager • Developed implementation plan • Rolled out BRM approach to whole of Friends Provident © Sigma (Bookham) Ltd 3

What sort of projects have they select

Highly successful projects Projects which are strategically or politically important Projects performing to plan Projects not performing to plan Pilot projects High risk projects © Sigma (Bookham) Ltd 4

What Challenges did Friends Provident face?

‘hearts and minds’

Getter understanding of project relationships and inter-dependencies Needed to see the value of BRM Don’t become a slave to the process Share experiences Ownership and Accountability People are KEY Linking Project Directors objectives linked to benefit realisation improves accountability

Not just about putting infrastructure in place

Getting the right culture

Changing Behaviours

Achieving lasting change is all about people accepting the need for change, valuing it and adopting it BENEFIT REPORTING PERFORMANCE MANAGEMENT

Portfolio Selection and Management (before full implementation) Selection and Prioritisation FP Corporate Strategy BRM Major Strategic Programme Strategic Portfolio Non Portfolio Change Initiatives Linking to Annual Planning Process Projects

2007

Infrastructure in place – but is it working?

Benefit Realisation of Portfolio (£m) - (Figures are for illustration purposes only) 6 9 2 2006 11 13 2005 35 26 Baseline Plan Expected Achieved

BRM has helped Selection and Management of Portfolio - After CORPORATE STRATEGY BRM MAJOR STRATEGIC PROGRAMME STRATEGIC PORTFOLIO ACCELERATED GROWTH INITIATIVES OTHER CHANGE INITIATIVES

What’s in place now

New Processes Roles and Responsibilities Portfolio Selection and Management Performance Management Benefit Reporting Project Documentation Adherence to mandatory elements of benefit realisation

Some Critical Success Factors

 All projects will have actively engaged stakeholders to ensure ownership and be actively monitoring the benfeits identified for the project  Adoption of the benefit realisation principles and use of tools and techniques as appropriate to support the business case and benefit realisation plan  Successful execution of the appropriate roles for BRM as specified by the governance of the project e.g Steering Groups, Project Sponsors, Project Directors, Stakeholders, etc  Greater visibility of gaps in portfolio to help understand how to bridge them  Improved benefit realisation plans through better engagement and greater accountability of stakeholders in the realisation of benefits  Improved accountability and better monitoring of BRP's that drive clearer, transparent reporting of benefits and investment  More people talking about and recognising benefits  Improved capability to explain the ROI  Improved evidence of better and earlier benefits being on track for far right benefits  Easier identification of synergies and/or conflicts amongst projects within a portfolio  Better baseline business cases  £investment, %/quality of benefits cited in business cases against that being achieved - this should turn into an annual review process to maintain confidence (linked to Portfolio Management)  Portfolio - increase in frequency in the portfolio meeting its required rate of return  Portfolio % increase in £ spend to £ benefit on non mandatory projects  BRM check part of Assurance function © Sigma (Bookham) Ltd 12

Conclusions for successful embedding of BRM within Friends Provident

   Demonstrate that benefit realisation does add value Avoid ‘finger pointing’ Take away the ‘Politics’     Encourage collaboration - work in full partnership with

all

areas that are impacted by a project/change initiative Encourage ‘creativity’ Determine the ‘desired’ behaviours Integrate into business processes  swifter identification and resolution of synergies and conflicts within a Portfolio  linking to annual planning  standards/templates 

Create a culture that wants it to happen

Their journey continues

A Vision for the future - Create A Learning Continuum Work juggling, issues How-to questions Training, workshops Training, consulting Resources Knowledge Exchange, Mentoring, Coaching Online Courses The Typical Work Environment Books, articles, Intranet Communities of Practice, peer expertise

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Answers to FAQs Mentoring Assessment Tutorials Project labs Templates, Checklists Expert Assistance Case studies