The Benefits Realization capability supports the monitoring of the achievement of an organization’s products, such as benefits, efficiencies, and revenue. Each capability within the Planview Capability Framework has a distinct set of features and functionality, business processes, best practices, and analytics and reports that deliver value to customers in the form of specific business outcomes.
Definition and Business Outcomes
This supports the monitoring of the achievement (benefit/efficiencies/revenue) of an organization’s products.
We can monitor and manage the revenue and benefits that the product is forecasted to deliver and make decisions on which products to continue to develop, enhance, or sunset.
Assign a benefits owner
Assign someone who will be accountable for realizing the program’s benefits once initial benefits projections have been evaluated. This role includes creating the business case and further refining the program’s projected benefits, collecting and reevaluating data at key project gates, and then reporting how benefits perform against the baseline during program delivery.
State the benefits clearly
State clearly in your business case what the expected benefits are, how they will be measured, and a timeframe for their realization. This will gain buy-in from key stakeholders and make reevaluation and reporting easier during execution and delivery, especially for intangible benefits like customer satisfaction and brand awareness.
Rank your benefits
Create a ranking order for your expected benefits. Having a ranking order determines which benefits you will track in the greatest depth and which metrics will most contribute to the overall health of your benefits realization.
Measure around the milestones
Determine a cadence for measuring and reporting benefits to track progress and detect potential issues. Since benefits can begin realization once projects with a program are delivered, using the expected delivery dates of key projects can provide a baseline schedule.
Commit to delivery
Effectively communicate the final goals and benefits of a program to your teams and teams of teams to ensure they commit to achieving the benefits. Understanding and committing to the benefits will aid in alignment between teams and managing unexpected changes.
Conduct a debrief
Hold a benefit debrief through surveys, in-person meetings, or a combination of both. Review the organization’s performance and evaluate how to implement new knowledge. These discussions should examine questions such as whether benefits projections were optimistic or pessimistic, if projections were accurate, if execution was mindful of the benefits, and more.
Processes and Reports
The benefits realization capability provides organizations the ability to monitor and manage a product’s expected benefits, revenue, and overall achievement, enabling better decision-making on which products to enhance, sunset, or continue to support. This capability supports the ongoing monitoring of product financials compared to the baseline, and the tracking of key results towards organizational objectives.
Benefits Realization Process Steps
|Roll up product financials||The purpose of this step is to summarize product costs and benefits to date by rolling up financial planning data from associated work and strategy entities.|
|Review product financials against the baseline||The purpose of this step is to monitor the realization of the product financials via a comparison against the baseline in order to track any variance. Users should harness this information to make well-informed decisions on the portfolio of products and/or to make any appropriate corrective actions.
The product financial planning detail will have been updated with appropriate budget and target data during the product planning and funding process, and a financial baseline will have been taken.
|Manage ongoing product financials||
As product financials are monitored and compared against the baseline, the product manager can manage both forecasted and actual information going forward.
|Review relevant key results against objectives||Key Results allow you to capture and track progress toward your objectives. Product and portfolio managers should periodically review the current state of key results to see if progress is being made towards relevant objectives|
|Enhance/retire product||This step represents a decision point.
Based on the product information captured to date and compared against baselines (financial data and additional key results), a decision should be made on whether the product should continue to be enhanced and funded or whether it should be retired.
|Closure||If a decision is made to retire the product, update the product status to reflect this.|
Benefits Realization Reports
How are we able to understand all cost and benefits forecasts for programs and projects across the organization?
|FastTrack Power BI Showcase Dashboards – Strategy – Strategy Financial Analysis||Power BI Dashboard||This dashboard shows the forecasted costs of strategic initiatives and programs in select portfolios, allowing you to identify the trend of forecasted costs over time. You can configure the dashboard to slice and display data in numerous ways.|
|Strategy Portfolio – Portfolio Manager –Customizable Column Set||Tile||This allows you to see strategy data in a customizable column set, including roadmaps, financials, effort, and more.|
|STR31 – Strategic Portfolio Cost and Benefit Analysis||Analytic||This report analyzes program data and summarized portfolio financial plan data, with effort represented as FTEs, days, and hours, and financials as cost, benefits, and revenue. You can slice data by strategy attributes, account structure levels, or line attributes of selected accounts. The report can be configured to run against each level in the strategy structure.|
|STR32 – Strategic Portfolio Financial Performance||Analytic||This report compares versions of the strategic program and summarized portfolio financial plan data, with effort represented as FTEs, days, and hours, and financials as cost, benefits, and revenue. A burndown chart is included for the portfolio and each initiative. You can run the report against each level in the strategy structure.|
|STR33 – Strategic Initiative Pipeline Matrix||Analytic||This report can select cost, revenue, or benefit-based measures from the financial planning data to drive bubble size and visualize the pipeline of strategic initiatives. You can configure the report to run against each level in the strategy structure.|
|STR34 – Strategic Portfolio Investment Risk and Reward||Analytic||This report is based on financial plan data and allows you to select benefit or revenue measures for the x-axis, a risk-based attribute for the y-axis, and cost-based measures for the bubble size. You can configure the report to run against each level in the strategy structure.|
|FastTrack Power BI Showcase Dashboards – Work||Power BI Dashboard||
This dashboard displays a range of out-of-the-box Power BI visualizations for the Financial Summary, Portfolio Balance Count, and Portfolio Balance Cost dashboards.
Detailed information for each visualization is provided, highlighting the configuration steps required to recreate the visualization.
|Tile||This column set gives you an overview of work items in a portfolio and their details, including synced AgilePlace boards, start and finish dates, and percentage complete.|
|WRK14 – Project and Portfolio Highlight Report||Analytic||
This report summarizes key project information into a one-page report for stakeholders and project review meetings.
You can run the report for a single project or across the portfolio. The portfolio report includes an executive summary on the first page, followed by one-page summaries for each project on individual pages.
|WRK31 – Work Portfolio Financial Analysis||Analytic||
This report analyzes project and portfolio financial plan data, with effort represented as FTEs, days, and hours, and financials as cost, benefits, and revenue.
The report uses a single version of the financial plan and a data type based on project attributes, account structure levels, or line attributes of selected accounts.
|WRK32 – Project/Work Portfolio Financial Burndown Comparison||Analytic||
This report compares versions of project and work portfolio financial plan data, with effort represented as FTEs, days, and hours, and financials as cost, benefits, and revenue.
The report includes the following:
|WRK33 – Project Cost or Revenue/Benefit Bubble||Analytic||This report can select cost, revenue, or benefits-based measures from the financial planning data to drive bubble size.|
|WRK34 – Work Portfolio Investment Balance Bubble||Analytic||This report identifies the risk and reward balance across projects. You can select benefit or revenue measures for the x-axis, a risk-based attribute for the y-axis, and cost-based measures for the bubble size. The report can run against each level in the strategy structure.|
|Outcome Portfolio – Portfolio Manager – Customizable Column Set||Tile||This customizable column set allows you to see an overview of the outcome breakdown, including total cost of ownership, labor costs, status assessment, and more.|
|OUT31 – Outcome Portfolio Revenue and Cost Analysis||Analytic||This report analyzes program data and summarized portfolio financial plan data, with effort represented as FTEs, days, and hours, and financials as cost, benefits, and revenue. The report uses a single version of the financial plan and a data type based on project attributes, account structure levels, or line attributes of selected accounts. You can configure the report to run against each level in the strategy structure.|
|OUT32 – Outcome Revenue/Cost Forecast Performance||Analytic||This report compares versions of outcome data and summarized portfolio financial plan data, with effort represented as FTEs, days, and hours, and financials as cost, benefits, and revenue. The report includes a burndown chart for the portfolio and each initiative. You can configure the report to run against each level in the strategy structure.|
This capability supports the creation, planning, and approval of an organization's products, and the ability to set time-phased budgets and financial targets for each product. Current and potential investments can be analyzed against budgets and financial targets.Read more
This capability supports the monitoring and management of program roadmap realization by tracking the status and health of programs. Data rolled up from dependent projects is used to update the roadmap, manage program delivery, and communicate with stakeholders.Read more
This capability provides managers the ability to develop a work plan, view and manage all work details, define and classify risks, issues, and change requests, track and manage project delivery, and provide reports on the overall status and health of projects.Read more
Objectives and Key Results
This capability provides organizations a framework to define, align around, execute, and measure progress toward key organizational goals by linking organizational and team goals to measurable outcomes in a hierarchical way.Read more