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When 'value delivery management' is considered the central focus of your project, it changes the whole project.
Because some of the standard project methodologies don't even mention 'value', it is considered something that happens outside the project, after the project has finished, 'somewhere in the business'.
Because of this, most project plans are not focused on value delivery but on project output delivery (in the hope and expectation that these outputs will deliver the expected value).
This leads to one of the great disconnects with projects.
- The project team focuses on its outputs and largely ignores the value.
- The business team expects the project outputs to deliver the value.
The realization of value requires a change from the current business state to a new business state. Just putting in a new computer system, for example, does not do this — it may deliver some value (measured at around 20-25% of the potential total), but the majority of the value is realized through organizational change and commitment.
Only the business manages the organization. Only the business can change the organization. Therefore, it is only the business that can realize the benefits and associated value.
Now, before project managers sign off from any focus on value again, a few things need to be cleared up.
- Value is derived from the delivery of measurable business end states (what we call, 'desired business outcomes').
- The primary task of all projects is to define these desired business outcomes and plan all of the activities required to deliver them. This is a joint accountability of the project, governance team and business.
- The project alone will not usually deliver all of these desired business outcomes in full, but should be planned to deliver a sub-set that enables or supports the subsequent delivery of the full business outcomes and their associated value.
- The project team (in conjunction with the business) is also accountable for planning the additional non-project team delivered work required to move the organization from the project-delivered outputs to the desired business end states with their benefits and value.
This value-focused planning approach ensures:
- The project outcomes are measurable.
- The gap between them and the desired business outcomes is known.
- The workload required to realize the benefits and value is planned from the outset.
- Activities enacted totally within the project (Project delivery plans).
- Activities enacted by both the project team and the business (Project and Benefits delivery plans).
- Activities enacted totally within the business with no project team involvement (eg. post project benefits delivery plans).
This value-planning approach securely 'locks' the business into both the project and the delivery of its (and their own) outcomes and value.
Comment on our blog at valuedeliverymanagement.com
Click here for the fourth article in this the series "Refocusing Projects onto Business Value, Part 4: Redefining 'Success'".
Click here for the first article in this the series "Refocusing Projects onto Business Value, Part I: The Need".
Jed Simms is CIO magazine's weekly project management columnist. Simms, founder of projects and benefits delivery research firm Capability Management, is also the developer of specialized project management and project governance Web site www.project-sponsor.com
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2008 CIO Summit
19th August, 2008 Four Seasons Hotel, Sydney Developed in partnership with CIO Magazine, IDC, INTEP and the CIO Executive Council.
The world of the CIO is extremely complex and diverse. Multiple priorities demand attention and decisions are needed instantly. Individual teams need to be driven towards common goals, and businesses strive to become more mobile, agile and responsive. For CIOs, the challenge never ends.
Every year the CIO Summit identifies what is top of mind for CIOs across Australia and New Zealand, and offers insight for CIO benchmarking and vendor strategic planning alike.
Recent IDC research shows that over 59% of CIO's believe that 'to achieve their business strategies, technology should be used more aggressively than today.'
Join us on August 19th to discover how this is possible with the latest technologies including Virtualisation, Web 2.0, IP Surveillance and Software as a Service (Saas).
Click here for more information.
Please email Denyse_Robertson@idg.com.au for further information.
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CIO Live Podcast #77: Panasonic Speeds Up Trans-Pacific File Transfers, Part III 21 September, 2007 07:00:00
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CIO Live Podcast #76: Panasonic Speeds Up Trans-Pacific File Transfers, Part II 14 September, 2007 07:00:00
Part two in our three-part special report from CIO's sister publication Network World in the US, as Paul Desmond reports from the Network World IT Roadmap Conference in Santa Clara, California. With development teams in the US and Japan, Panasonic needed a more efficient way to move very large files between the two locations. Iben Rodriguez, IT consultant for Panasonic Research and Development, explains how a storage-area network and virtual server technology helped speed up WAN performance. - +
CIO Live Podcast #75: Panasonic Speeds Up Trans-Pacific File Transfers, Part I 07 September, 2007 07:00:05
Part one in our three-part special report from CIO's sister publication Network World in the US, as Paul Desmond reports from the Network World IT Roadmap Conference in Santa Clara, California. With development teams in the US and Japan, Panasonic needed a more efficient way to move very large files between the two locations. Iben Rodriguez, IT consultant for Panasonic Research and Development, explains how a storage-area network and virtual server technology helped speed up WAN performance.
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Should security policies, procedures and processes be managed within a central body, or distributed at an individual level? You need to find the middle ground.The management of information risk has become a significant topic for all organizations, small and large alike. But for the large, multi-divisional organization, it poses the additional challenge of determining how to deploy an information security governance program among what are often disparate business units. Should the policies, procedures, and processes that define the program be developed and managed within a central, corporate body? Or perhaps responsibility would be better placed at the individual unit level? Is there a workable middle-ground? - +
DNS error brings Sophos antivirus updates to a halt 05 September, 2008 13:40:00
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Ouch! Security pros' worst mistakes 04 September, 2008 08:05:00
We've all done regrettable things on the job, but does any valuable wisdom come of it? Four security pros candidly explain their biggest blunders and what they learned in the processIt was a mistake so bad the person who made it asked that his name and company not be mentioned here. Let's call him Frank. - +
Security ROI: Fact or Fiction? 03 September, 2008 08:32:00
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Information Security and the Importance of Context 01 September, 2008 10:00:00
Those entrusted with information security must raise their contextual awarenessWhen the US Transportation Security Administration (TSA) was first created, it created a sudden need for tens of thousands of screeners. Getting a job as an airport screener was a pretty easy process. It seemed as though if you had a pulse, you were in. Jump forward to 2008 and becoming a screener is a bit harder as the TSA has instituted background checks, has upped the educational requirement to include a high school diploma or GED, and added other significant requirements.
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Best Practice in Building an Integrated Information Management Strategy
Discover the business value that creating an integrated information platform can bring. Learn how to provide consistent, accurate information to all stakeholders within your business network. Integrate vital data from disparate sources and deliver a trusted information foundation. Read on to uncover the stepping-stones to your new information management strategy.
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