Benefits Realization Management
Benefits realization management (BRM) is a key part of governance, because it supports the strategic creation of value and provides the correct level of prioritization and executive support to the correct initiatives. Because of its relevance to the governance process, BRM has a strong influence over project success and is a link between strategic planning and strategy execution.
This book guides portfolio, program, and project managers through the process of benefits realization management so they can maximize business value. It discusses why and how programs and projects are expected to enable value creation, and it explains the role of BRM in value creation. The book provides a flexible framework for:
- Translating business strategy drivers into expected benefits and explains the subsequent composition of a program and project portfolio that can realize expected benefits
- Planning the benefits realization expected from programs and projects and then making it happen
- Keeping programs and projects on track
- Reviewing and evaluating the benefits achieved or expected against the original baselines and the current expectations.
To help project, program, and portfolio managers on their BRM journey, as well as to support business managers in executing business strategies, the book identifies key organizational responsibilities and roles involved in BRM practices, and it provides a simple reference that can be mapped against any organizational structure. A detailed and comprehensive case study illustrates each phase of the BRM framework as it links business strategy to project work, benefits, and business value. Each chapter ends with a series questions that provide a BRM self-assessment. The book concludes with a set of templates and detailed instructions to ensure successful deployment of BRM.
Carlos Eduardo Martins Serra is a certified PMP and Prince2 Practitioner. He holds a master’s degree with merit in program and project management from the University of Warwick (United Kingdom), a postgraduate specialization certificate in project management from the Federal University of Rio de Janeiro (UFRJ) (Brazil), and a bachelor’s degree in engineering from the Federal Center of Technological Education (CEFET-RJ) (Brazil).
He has been working since 1999 in project management environments across various market sectors, countries and roles in small and local businesses, as well as very large and global businesses. His work has focused on both national and global project, program and portfolio management roles, as well as on PMO roles. These roles have involved developing, implementing and executing project management processes and influencing project, program and portfolio managers, project sponsors and business managers around methodology, governance, and reporting. He has relevant energy sector experience from having worked for Ampla, Exxon Mobil, Petrobras, Venture Information Management, Lloyd's Register Energy and Gazprom Marketing and Trading. In addition to his professional experience in the PM field, he is actively committed to the development of project, program and portfolio management knowledge by frequently supervising or even taking active roles in research projects and by being an active member of the Project Management Institute (PMI) and of the British Association for Project Management (APM). He has written numerous academic articles, reports and white papers and he has won academic and professional awards. A specialist reviewer in the areas of governance and project management best practices for the International Journal of Project Management, he has designed and delivered project management and quality management course modules, lectures, and presentations for MBA programs, conferences, and training events, as well as companies' internal training programs.