Managing Benefits provides managers and practitioners from multiple disciplines, working in a wide variety of organizations, with generally applicable guidance encompassing benefits management principles, practices and techniques that enable organizations to optimize the return from their investments in change.
The course is relevant to all sectors and types of project or programme, or what the Managing Benefits guide refers to as 'change initiatives'.
The target audience includes all those involved in the selection and delivery of business change initiatives, as well as the realization of benefits from these change initiatives. This multi-disciplinary group includes:
Please note: Delegates are to have attained a pass at foundation level before attending this course. For the Foundation course, please see our course code PBPMBF
This Practitioner level course aims to enable delegates to apply and understand how to tailor Managing Benefits effectively. Specifically delegates should be able to demonstrate their ability to:
All delegates will be given the opportunity to sit the Managing Benefits Practitioner examination in the afternoon of the second day of the course. The Managing Benefits Practitioner exam consists of:
Module One: Practitioner Exam Overview
Explains the format and expected content of the exam. Working as a group, we present and discuss typical questions in each of the possible question styles.
Module Two: The Benefits Management Principles
Discusses the application of the seven enabling factors or principles that represent the solid foundations upon which effective benefits management is built. Additionally we shall analyse and distinguish between their appropriate and inappropriate use in a given scenario situations. The principals are:
Module Three: Benefits Management Practice 1 - Identify & Quantify
The objective of this first practice is to lay the basis for informed options analysis, investment appraisal, and portfolio prioritisation.
We shall discuss various approaches to identifying benefits including: benefits discovery workshops, benefits mapping and customer insight, as well as forecasting benefits. Additionally we shall look at some of the problems, issues, and fallacies typically faced and appropriate solutions.
Module Four: Benefits Management Practice 2 - Value & Appraise
Once identified and quantified we look at why organizations value benefits in monetary terms; various approaches to valuing non-financial benefits in monetary terms; the main approaches to initiative appraisal cost-benefit, real options, cost-effectiveness and multi-criteria analysis; and the role of value management techniques. Here we shall do practical exercises to check understanding of the application of the various techniques.
Module Five: Benefits Management Practice 3 - Plan
Planning covers approaches to validating benefits; prioritizing benefits; managing the pre-transition phase; selecting benefits measures; benefits risk and opportunity management; planning effective stakeholder engagement; and an overview of the main initiative-level benefits management documentation used in planning for benefits realization, and who prepares and maintains them. We shall discuss the various roles, responsibilities, and documentation required of a sound benefits management environment.
Module Six: Benefits Management Practice 4 - Realize
Benefits seldom just happen, there needs to be transition management; tracking and reporting, including surveys; and approaches to effective stakeholder engagement to win hearts as well as minds, and so deliver the behavioural change upon which benefits realization is often dependent.
Module Seven: Benefits Management Practice 5 - Review
The final practice looks at the importance of review as a basis for learning and continuous improvement before, during and after the initiative.
Module Eight: Portfolio-based application of Benefits Management
Addresses why portfolio-based benefits management is so important and its main elements. The portfolio is a permanent function within organisations and manages benefits before and after change initiatives, as well as their individual and collective performance.
Module Nine: Implementing and sustaining progress
Successful benefits management is embedded into the culture of organisation. In this module we look at how to get started with implementing benefits management, and how to sustain progress, including measuring impact and maturity.
APMG-International Managing Benefits is a trade mark of The APM Group Limited
Join our public courses in our New Zealand facilities. Private class trainings will be organized at the location of your preference, according to your schedule.