Based on the Reading, answer the following questions, with explanations (do not simply name concepts and move on):
1) Among the concepts you have learned, which do you think is most useful to you or your organization?
2) Which concept(s) caused the most confusion in this unit?
3) Which concept(s) did you wish went into further detail, either because you are interested or because it’s too complex for the coverage it received?
Reading was on:
- Chapter 21: “Realize Value Phase”
In Chapter 21, the ninth phase of the BPM model, the Realize Value phase, is presented. Once the initialization of the project is complete and the processes are up and running, it may feel like the finish line. However, the project is not a success unless the goals and objectives of the organization (aligned with the strategy) have been achieved. Consider how the work within the BPM model framework has helped bring value to the business as a whole. Review the concept of benefits management.
- A project is only complete once the reason for its existence has been achieved and it has been handed over to the business in such a way that the business can now sustain the project outcomes.
- Only count benefits that can and will be realized. Minor incremental savings are almost never realized in practice.
- It is the responsibility of the benefits owner to ensure that all activities identified in the benefits summary plan are realized and the appropriate control structures necessary for benefits realization are in place.
Research is an important skill to gain a broader understanding of a topic. As managers, you will also be expected to research a problem to present possible solutions. In this unit, you will conduct research on the reasons for failure in realizing value after a project is complete.
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