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© Sigma (Bookham) Ltd British Computer Society 19 March 2007 'Embedding Benefit Realisation Management – Friends Provident’s experiences Ann Watts – Head of Business Development sigma
© Sigma (Bookham) Ltd 2 APPROACH TO EMBEDDING BRM PILOTS TRAINING ENGAGEMENT MENTORING Prove BRM adds value
© Sigma (Bookham) Ltd 3 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 4 What sort of projects have they select High risk projects Projects performing to plan Highly successful projects Projects which are strategically or politically important Projects not performing to plan Pilot projects
© Sigma (Bookham) Ltd 5 What Challenges did Friends Provident face? ‘hearts and minds’ Not just about putting infrastructure in place Ownership and Accountability Linking Project Directors objectives linked to benefit realisation improves accountability Don’t become a slave to the process Share experiences People are KEY Getter understanding of project relationships and inter-dependencies Needed to see the value of BRM
© Sigma (Bookham) Ltd 6 Getting the right culture Commitment & Action Ownership Awareness Understanding Support & Buy-in CHANGE STAGES CHANGE STAGES
© Sigma (Bookham) Ltd 7 Changing Behaviours BENEFIT REPORTING Achieving lasting change is all about people accepting the need for change, valuing it and adopting it Commitment & Action Ownership PERFORMANCE MANAGEMENT
© Sigma (Bookham) Ltd 8 Portfolio Selection and Management (before full implementation) Strategic Portfolio FP Corporate Strategy Major Strategic Programme Non Portfolio Change Initiatives BRM Projects Linking to Annual Planning Process Selection and Prioritisation
© Sigma (Bookham) Ltd 9 Infrastructure in place – but is it working?
© Sigma (Bookham) Ltd 10 BRM has helped Selection and Management of Portfolio - After ACCELERATED GROWTH INITIATIVES MAJOR STRATEGIC PROGRAMME STRATEGIC PORTFOLIO CORPORATE STRATEGY BRM OTHER CHANGE INITIATIVES
© Sigma (Bookham) Ltd 11 What’s in place now Adherence to mandatory elements of benefit realisation Portfolio Selection and Management Roles and Responsibilities Project Documentation Performance Management Benefit Reporting New Processes
© Sigma (Bookham) Ltd 12 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 13 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
© Sigma (Bookham) Ltd 14 Their journey continues
© Sigma (Bookham) Ltd 15 A Vision for the future - Create A Learning Continuum Assessment Project labs Tutorials Case studies Books, articles, Intranet Templates, Checklists Expert Assistance Mentoring Training, workshops The Typical Work Environment Training, consulting Work juggling, issues How-to questions Resources Knowledge Exchange, Mentoring, Coaching Online Courses Communities of Practice, peer expertise Answers to FAQs ??
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