Domain Business : Task 2 Evaluate and deliver project benefits and value
Task 2 Evaluate and deliver project benefits and value
– Investigate that benefits are identified
– Document agreement on ownership for ongoing benefit realization
– Verify measurement system is in place to track benefits
– Evaluate delivery options to demonstrate value
– Appraise stakeholders of value gain progress
Project Manager’s Role in Evaluating and Delivering Project Benefits and Value
The role of a project manager transcends beyond merely overseeing project execution; it extends to ensuring that the project delivers tangible benefits and value. This article explores the various facets of this responsibility, outlining the steps a project manager should take to evaluate and deliver project benefits and value.
Investigating Benefits Identification
The first step involves ensuring that the benefits expected from the project are clearly identified. This includes understanding the project’s objectives and how they align with the organization’s strategic goals. The project manager needs to collaborate with stakeholders to ascertain that the benefits are well-defined and align with the project’s purpose.
Documenting Agreement on Ownership for Benefit Realization
It is crucial to establish and document who will be responsible for realizing the benefits once the project is completed. This could involve different departments or individuals within the organization. The project manager must facilitate this agreement to ensure that there is a clear understanding of roles and responsibilities post-project completion.
Verifying Measurement System for Tracking Benefits
A robust system to measure and track the realization of benefits is vital. The project manager must ensure that there are appropriate tools and metrics in place to quantify the benefits. This can include financial measures, performance indicators, or other relevant metrics that align with the project’s objectives.
Evaluating Delivery Options to Demonstrate Value
Exploring and evaluating various delivery options is essential to maximize value delivery. This involves assessing different approaches to project execution, such as phased delivery or agile , which can enhance the project’s ability to deliver value efficiently and effectively.
Appraising Stakeholders of Value Gain Progress
Regular communication with stakeholders about the progress in achieving the project benefits is essential. This involves updating them on milestones achieved, challenges encountered, and adjustments made to ensure benefit realization. It’s crucial for maintaining stakeholder engagement and support throughout the project lifecycle.
Conclusion
In conclusion, a project manager’s role in evaluating and delivering project benefits and value is multifaceted. It requires a deep understanding of the project’s objectives, effective communication with stakeholders, and a proactive approach in managing and tracking the realization of benefits. By focusing on these key areas, a project manager can significantly contribute to the project’s success and its alignment with the organization’s strategic goals.
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