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Benefits Realisation Management
Benefits realization management (BRM), also benefits management, benefits realisation or project benefits management, is a project management methodology, often visual, addressing how time and resources are invested into change management, making desirable changes. BRM is used to manage the investment by organizations in procurement, projects, programmes and Project portfolio management, portfolios, and has been shown to increase project success across different countries and industries. The popularity of BRM began in 1995 in the UK, when Scottish Widows created a Benefits Realisation method as part of its ''Project Management Handbook'', and rolled its use out across the entire firm. It grew in the UK with the inclusion of BRM by the UK Government in their standardized approach to programmes, ''Managing Successful Programmes (MSP)''.OGC (2003) ''Managing Successful Programmes'', London, The Stationery Office. Definitions Benefits realization management has four main definitions. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Project Management
Project management is the process of supervising the work of a Project team, team to achieve all project goals within the given constraints. This information is usually described in project initiation documentation, project documentation, created at the beginning of the development process. The primary constraints are Scope (project management), scope, time and budget. The secondary challenge is to operations research, optimize the Resource allocation, allocation of necessary inputs and apply them to meet predefined objectives. The objective of project management is to produce a complete project which complies with the client's objectives. In many cases, the objective of project management is also to shape or reform the client's brief to feasibly address the client's objectives. Once the client's objectives are established, they should influence all decisions made by other people involved in the project– for example, project managers, designers, contractors and subcontractors ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stakeholder (corporate)
In a corporation, a stakeholder is a member of "groups without whose support the organization would cease to exist", as defined in the first usage of the word in a 1963 internal memorandum at the Stanford Research Institute. The theory was later developed and championed by R. Edward Freeman in the 1980s. Since then it has gained wide acceptance in business practice and in theorizing relating to strategic management, corporate governance, business purpose and corporate social responsibility (CSR). The definition of corporate responsibilities through a classification of stakeholders to consider has been criticized as creating a false dichotomy between the "shareholder model" and the "stakeholder model", or a false analogy of the obligations towards shareholders and other interested parties. Types Any action taken by any organization or any group might affect those people who are linked with them in the private sector. For examples these are parents, children, customers, owners ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value Engineering
Value engineering (VE) is a systematic analysis of the functions of various components and materials to lower the cost of goods, products and services with a tolerable loss of performance or functionality. Value, as defined, is the ratio of function to cost. Value can therefore be manipulated by either improving the function or reducing the cost. It is a primary tenet of value engineering that basic functions be preserved and not be reduced as a consequence of pursuing value improvements. The term "value management" is sometimes used as a synonym of "value engineering", and both promote the planning and delivery of projects with improved performance. The reasoning behind value engineering is as follows: if marketers expect a product to become practically or stylistically obsolete within a specific length of time, they can design it to only last for that specific lifetime. The products could be built with higher-grade components, but with value engineering they are not because thi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Case
A business case captures the reasoning for initiating a project or task. Many projects, but not all, are initiated by using a business case. It is often presented in a well-structured written document, but may also come in the form of a short verbal agreement or presentation. The logic of the business case is that, whenever resources such as money or effort are consumed, they should be in support of a specific business need. An example could be that a software upgrade might improve system performance, but the "business case" is that better performance would improve customer satisfaction, require less task processing time, or reduce system maintenance costs. A compelling business case adequately captures both the quantifiable and non-quantifiable characteristics of a proposed project. According to the Project Management Institute, a business case is a " value proposition for a proposed project that may include financial and nonfinancial benefit". Business cases can range fr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Benefit Shortfall
When the actual benefits of a venture are less than the projected or estimated benefits, the result is known as a benefit shortfall. If, for instance, a company is launching a new product or service and projected sales are 40 million dollars per year, whereas actual annual sales turn out to be only 30 million dollars, then the benefit shortfall is said to be 25 percent. Sometimes the terms "demand shortfall" or "revenue shortfall" are used instead of benefit shortfall; see volume risk. Public and private enterprises alike fall victim to benefit shortfalls. Prudent planning of new ventures will include the risk of benefit shortfalls in risk assessment and risk management. The discipline of benefits realisation management Benefits realization management (BRM), also benefits management, benefits realisation or project benefits management, is a project management methodology, often visual, addressing how time and resources are invested into change management, making d ... seeks ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Results Chain
A result A result (also called upshot) is the outcome or consequence of a sequence of actions or events. Possible results include gain, injury, value, and victory. Some types of results include the outcome of an action, the final value of a calculation ... is the outcome of an event. Result or Results may also refer to: Music * ''Results'' (album), a 1989 album by Liza Minnelli * ''Results'', a 2012 album by Murder Construct * "The Result", a single by The Upsetters * "The Result", a song by Ennio Morricone from '' A Fistful of Dollars'' O.S.T. * "Results", a track from the soundtrack of the 2014 Indian film ''Jigarthanda'' Other uses * ''Result'' (schooner), a schooner built in Carrickfergus in 1893 * Result, New York, a populated place in Greene County * Result (cricket), final outcome (win, tie, or draw) in the bat-and-ball game of cricket * ''Results'' (film), a 2015 film starring Guy Pearce and Cobie Smulders * Results (organisation), a US poverty advocacy organ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Benefits Dependency Map
Benefit(s) may refer to: Arts and entertainment * ''Benefit'' (album), by Jethro Tull, 1970 * "Benefits" (''How I Met Your Mother''), a 2009 TV episode * "Benefits", a 2018 song by Zior Park * '' The Benefit'', a 2012 Egyptian action film Businesses and organisations * Benefit Cosmetics, an American cosmetics company * The Benefit Company, a Bahraini interbanking company Places * Benefit, Georgia, US Welfare and employment * Benefit (social welfare) ** Federal benefits, US ** Unemployment benefits * Benefit (sports), a pre-retirement event to benefit a player * Benefit performance, entertainment to support a cause ** Benefit concert, or charity concert * Employee benefits ** Health benefits (insurance) See also * Entitlement (other) * Health benefits (medicine) * Incentive * Incentive program * Loyalty marketing * Loyalty program A loyalty program or rewards program is a marketing strategy designed to encourage customers to continue to shop at or use ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Strategic Planning
Strategic planning is the activity undertaken by an organization through which it seeks to define its future direction and makes decisions such as resource allocation aimed at achieving its intended goals. "Strategy" has many definitions, but it generally involves setting major goals, determining actions to achieve these goals, setting a timeline, and mobilizing resources to execute the actions. A strategy describes how the ends (goals) will be achieved by the means (resources) in a given span of time. Often, Strategic planning is long term and organizational action steps are established from two to five years in the future. Strategy can be planned ("intended") or can be observed as a pattern of activity ("emergent") as the organization adapts to its environment or competes in the market. The senior leadership of an organization is generally tasked with determining strategy. It is executed by strategic planners or strategists, who involve many parties and research sources in th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Change Management
Change management (CM) is a discipline that focuses on managing changes within an organization. Change management involves implementing approaches to prepare and support individuals, teams, and leaders in making organizational change. Change management is useful when organizations are considering major changes such as restructure, redirecting or redefining resources, updating or refining business process and systems, or introducing or updating digital technology. Organizational change management (OCM) considers the full organization and what needs to change, while change management may be used solely to refer to how people and teams are affected by such organizational transition. It deals with many different disciplines, from behavioral and social sciences to information technology and business solutions. As change management becomes more necessary in the business cycle of organizations, it is beginning to be taught as its own academic discipline at universities. There are a gro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gap Analysis
In management literature, gap analysis involves the comparison of actual performance with potential or desired performance. If an organization does not make the best use of current resources, or forgoes investment in productive physical capital or technology, it may produce or perform below an idealized potential. This concept is similar to an economy's production being below the production possibilities frontier. Gap analysis identifies gaps between the optimized allocation and integration of the inputs (resources), and the current allocation-level. This reveals areas that can be improved. Gap analysis involves determining, documenting and improving the difference between business requirements and current capabilities. Gap analysis naturally flows from benchmarking and from other assessments. Once the general expectation of performance in an industry is understood, it is possible to compare that expectation with the company's current level of performance. This comparison be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
