Proposed Benefits Realization Process Draft Why Track Project

Proposed Benefits Realization Process Draft

Why Track Project Benefits? • We are required to put a Benefits Realization process in place as a result of the IT Finance audit in September 2010. • Holds business accountable to meeting project benefits • Business Case improvement in the future • Helps projects course correct as they roll out (ex. Siteminder) • Demonstrates the value of IT and keeps IT aligned to our customers’ needs. SPE Confidential 2 1/12/2022

Realities of Project Benefits • Benefits do not just happen. They don’t just automatically appear when a new technology is delivered. A benefits stream flows and evolves over time as people learn to use it. • Benefits rarely happen according to plan. A forecast of benefits to support the business case is just an early estimate. • Benefits realization is a continuous process of envisioning results, implementing, checking intermediate results and adjusting the path leading from investments to business results. • Tracking benefits realization is difficult. Support the early development of the business case and review the benefits early and often. SPE Confidential 3 1/12/2022

Project Benefits Realization • Project CBA must identify measurable benefits that specifically relate to the project’s goals and objectives • People must be named as accountable for ensuring benefits are achieved (and they must know and accept this accountability) • Project benefits need to be achievable , realized and then sustained (maintaining relevance) when a project is complete SPE Confidential 4 1/12/2022

Project Benefits Realization Goals • Provide detailed cost/benefits analysis of selected projects including historical LOB analysis • Identify missed benefits early on and “course correct” if possible • Provide “lessons learned” feedback for management • Improved cost and benefits forecasting on future IT projects SPE Confidential 5 1/12/2022

Next Steps • Obtain Finance/IT approval of Benefits Realization approach • Complete Benefits Realization on Pilot projects • Incorporate Benefits tracking sheet into CBA • Continue to maintain an overall Benefits tracking sheet • Develop guidelines for time frame of tracking benefits ( during larger projects we should ensure that scope changes do not decrease or increase benefits) • Map the benefits to the Business requirements • Develop a training curriculum to train project managers on how to attain benefits, gain agreement , etc. • Train Project Managers • Identify next projects to be reviewed SPE Confidential 6 1/12/2022