"An Approach to Benefits Driven Project Management"

Event Report

On 16th September David Marsh and Steve Money spoke to us about Benefit Driven Project Management.

David spoke first and explained the theory that often project managers manage the wrong project because the business isn't really sure what they need. 4th generation project managers (as he refers to them) talk to the business and identify what is required rather than blindly follow the project that they are given. "Scope creep" he says, I hear you cry. Well not if its actually delivers what is required rather than being a successful project that delivers on time to budget but is a system that nobody really wants. He advocates splitting the requirements across the MOSCO method (Must, Should, Could), with the Musts being delivered first and giving the most value. This is similar to the 80/20 rule where 80% of the project overhead only gives 20% of the functionality/benefit. With his method the business will see the benefit sooner with less cost, and you may never get to the should or the coulds because in reality they don't give as much benefit and the money could be put to better use.

Steve then stood up to tell us about his practical experience using this method. He spoke about 3 projects. The first project that he managed using the benefits driven method was very successful. The second project was with a project board that were a bit scared by the newness of the benefits driven approach and a more traditional method was undertaken. The project wasn't a great success because although it was delivered on time and to budget it didn't deliver the system that was needed. The final project that was discussed incorporated lessons learnt from the earlier two and tried to manage the scaryness of this new approach and get buy-in from the project board.

Items that Steve mentioned that he has taken away from his experience and added to the 'method' are identifying an owner for the business change to ensure that cultural and other less tangible products are managed. This ensures that the PM doesn't assume that these are being managed by someone else along with looking for opportunities to add benefit to the project. As the business changes over the project timeline opportunities rather than risks become the focus.

So, as Project Managers we can take responsibility to ensure that benefits are delivered and although this may not be the traditional way, it will give the business more for their money, and make you look good to boot!

The slides (332k) from this presentation are now available.