Besides the small introduction, subscribers and consulting clients within this management domain have access to:
Ensure that all key strategic stakeholders hold a current understanding of what is valuable to the organization and a sense of what will be valuable based on future needs.
Establish the process to evaluate spend on IT initiatives based on expected benefits, and implement the methods to monitor how well the initiatives achieve these benefits.
Re-evaluate, on a consistent basis, the accuracy of the value drivers stated in the value statement with respect to the organization’s current internal and external environments.
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Establish the business value statement.
Understand the importance of implementing a benefits realization process.
Unified stakeholder perspectives of business value drivers
Establish supporters of the initiative
1.1 Understand what governance is and how a benefits realization process in governance will benefit the company.
1.2 Discuss the mission and vision of the company, and why it is important to establish the target state prior to defining value.
1.3 Brainstorm and narrow down organization value drivers.
Stakeholder buy-in on benefits realization process
Understanding of interrelations of mission, vision, and business value drivers
Final three prioritized value drivers
Completed business value statement
Establish the intake, assessment and prioritization, and output and monitoring processes that are involved with implementing benefits realization.
Assign cut-over dates and accountabilities.
Establish monitoring and tracking processes.
A thorough implementation plan that can be incorporated into existing governance documents
Stakeholder understanding of implemented process, process ownership
2.1 Devise the benefits realization process.
2.2 Establish launch dates, accountabilities, and exception handling on processes.
2.3 Devise compliance monitoring and exception tracking methods on the benefits realization process.
Benefits realization process incorporated into governance documentation
Actionable plan to implement benefits realization process
Reporting processes to ensure the successful delivery of the improved governance process
Implement a process to ensure that business value drivers remain current to the organization.
Align IT with the business and business to its environment
3.1 Determine regular review cycle to reassess business value drivers.
3.2 Determine the trigger events that may cause off-cycle revisits to value.
3.3 Devise compliance monitoring on value definition.
Agenda and tools to assess the business context to verify the accuracy of value
List of possible trigger events specific to your organization
Reporting processes to ensure the continuous adherence to the business value definition