Maximize Business Value from IT Through Benefits Realization

Embed benefits realization into your governance process to prioritize IT spend and confirm the value of IT.

Onsite Workshop

Without a solid benefits realization process in place:

  • IT and the business are often misaligned because business value is not well defined or communicated.
  • Decisions are made without a shared perspective of value, resulting in cost misallocation and unexploited opportunities to improve efficiency and drive innovation.
  • IT struggles to demonstrate how it provides value from its investments.
  • IT is being perceived as a cost center because of the inability to articulate value.

A solid benefits realization process:

  • Forms a common understanding of what is valuable within the organization to drive growth and consistent strategic decision making.
  • Equips IT to evaluate, direct, and monitor investments to support the achievement of organizational values and business benefits.
  • Aligns IT spend with business value through an enhanced governance structure to achieve cost optimization.
  • Ensures IT provides visible contribution to the creation and maintenance of value.

Module 1: Understand Business Value

The Purpose

  • Establish the business value statement.
  • Understand the importance of implementing a benefits realization process.

Key Benefits Achieved

  • Unified stakeholder perspectives of business value drivers
  • Establish supporters of the initiative

Activities: Outputs:
1.1 Understand what governance is and how a benefits realization process in governance will benefit the company.
  • Stakeholder buy-in on benefits realization process
1.2 Discuss the mission and vision of the company, and why it is important to establish the target state prior to defining value.
  • Understanding of interrelations of mission, vision, and business value drivers
1.3 Brainstorm and narrow down organization value drivers.
  • Final three prioritized value drivers
  • Completed business value statement

Module 2: Incorporate Benefits Realization Into Governance

The Purpose

  • Establish the intake, assessment and prioritization, and output and monitoring processes that are involved with implementing benefits realization.
  • Assign cut-over dates and accountabilities.
  • Establish monitoring and tracking processes.

Key Benefits Achieved

  • A thorough implementation plan that can be incorporated into existing governance documents
  • Stakeholder understanding of implemented process, process ownership

Activities: Outputs:
2.1 Devise the benefits realization process.
  • Benefits realization process incorporated into governance documentation
2.2 Establish launch dates, accountabilities, and exception handling on processes.
  • Actionable plan to implement benefits realization process
2.3 Devise compliance monitoring and exception tracking methods on the benefits realization process.
  • Reporting processes to ensure the successful delivery of the improved governance process

Module 3: Ensure an Accurate Reference of Value

The Purpose

  • Implement a process to ensure that business value drivers remain current to the organization.

Key Benefits Achieved

  • Align IT with the business and business to its environment

Activities: Outputs:
3.1 Determine regular review cycle to reassess business value drivers.
  • Agenda and tools to assess the business context to verify the accuracy of value
3.2 Determine the trigger events that may cause off-cycle revisits to value.
  • List of possible trigger events specific to your organization
3.3 Devise compliance monitoring on value definition.
  • Reporting processes to ensure the continuous adherence to the business value definition

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