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Benefits Realization for Project Managers

You earn 2.25 PDUs of Strategic and Business Management for all kinds of PMI certificates after taking this course.
Elearning Last updated Aug 16, 2019
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Benefits Realization for Project Managers
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  • 2.28 hrs Audio duration
  • 2.28 hrs in total
  • 365 days access
  • Receive userid immediately
  • Study at anytime and from anywhere
  • Certificate of Completion
  • Each lesson comprises of presentations, audio for each presentation, and transcripts of audio for reading
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You earn 2.25 PDUs of Strategic and Business Management for all kinds of PMI certificates after taking this course.

The course will benefit individuals and organizations interested in Benefits Realization Management. It will especially help PMO leaders and project/program/portfolio managers across industries.

This course provides:

  • A diverse collection of both long-established and recent concepts and practices, defined and explained by experienced Benefits Realization Management practitioners.
  • General guidance on how these concepts and practices could be used to improve the effectiveness of Benefits Realization Management.

Course information on PMI CCRS: https://ccrs.pmi.org/search/course/452096

Lessons
4 lectures
2.28 hrs
The concept of portfolios, programs, and projects delivering value through benefits realization management (BRM) can be traced back to the logical framework approach (LFA), developed in 1969 for the U.S. Agency for International Development. LFA is a methodology mainly used for designing, monitoring, and evaluating international development projects. In the private sector, BRM arose in the information technology (IT) industry about 30 years ago when the evolution of this technology made it more important that investments in planned benefits came to fruition. The practice of BRM has since proved useful to other industries where benefits derive from portfolio, program, and project outputs. Although there is no widespread consensus on BRM as a discipline, it continues to evolve and be recognized as a useful management approach.
This chapter describes foundational terms, concepts, principles, critical success enablers, and roles and responsibilities. In addition, it gives an overview on the topics of organizational strategy and benefits, benefits and requirements traceability, benefits categorization considerations, and benefits measurement.
The BRM framework is an integrated set of governance and management practices designed to define, develop, deliver, and sustain planned benefits derived from the outputs of portfolios, programs, and projects. It includes a life cycle structure, key activities with associated roles and responsibilities, and depicts their general relationships. The BRM life cycle component of the framework is expressed in the stages of Identify, Execute, and Sustain.
This chapter offers guidance to portfolio, program, and project managers, as well as business analysts, on what actions and practices support and enhance engagement of their respective domains with BRM life-cycle activities.