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Business Management

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last update : 23/09/2013

Measuring Benefits Featuring advanced mapping

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Measurement practice and environment

 

We explore:
 the reasons why measuring benefits seems so difficult
 an understanding of the language and environment for effective measurement
 the role of the Business Case and the foundation for measurement — the Benefit Dependency Map (BDM), a logic model from which all the other information is derived
 the measurement process and the value of a measures dictionary
 
Refining benefit information to set the stage for measures
In order that the logic is robust and relevant it is worth investing some time upfront to produce a good quality BDM
 working from an example ‘draft BDM’ set up on work-shop boards and cards, you will refine areas of the map using decomposition criteria, and weightings.
 by reviewing, as a group, an example of the draft BDM which has been completely refined, you will understand the step-change in quality of benefit information that has been achieved, and consider the implications for each section of the business case.
 
Choosing which benefits to measure
In an ideal world, all benefits in a logic model would be measured. In the real world, decisions on which benefits to measure are the norm. This session reviews the relative merits of:
 identifying key nodes on the BDM
 weighting the paths
 
Benefit classification and valuation
Classifying and valuing benefits in relation to stakeholders, in particular key decision-makers and responsibility roles.
 
Determining suitable measures and capturing the supporting metrics
 Characteristics of good measures
 Data gathering options
 
Helping benefit owners to set targets
 
Role play exercises based on a range of information provided:
 discussion with the measurement team on the information needed to fuel the discussion with the benefit owners
 discussion with the benefit owners on the setting of the targets
 
An introduction to benefit reporting
The components of the business case provide the basis for your reporting model. You are provided with a flawed dashboard report for review and challenge. Discussion on the implications of the flaws for benefit-led decision making.
Maturity and action plan
 
The day so far will have given you some very practical insights into important aspects of good quality benefit measurement. In this session we will help you to consider the current quality of the benefit measurement in your organisation using an extract from sigma’s BRM maturity model. The result will be produced in a bar chart format which will assist your discussions with others in your organisation. We will also help you to start a prioritised action plan for improving the benefit measurement within your area of influence
 
We are often told that the most difficult part of putting the benefit-led principles into action is influencing others. So our final session concentrates on the WIFM (what’s in it for me?) for
 Measurement teams
 Programme Managers
 Portfolio Managers

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