Benefits management : how to increase the business value of your IT projects, second edition

Content: About the authors xi     Preface xiii     1 The challenges of IS/IT projects 1     Dissatisfaction with current approaches to benefits delivery 4     The need for a fresh approach: benefits management 8     Benefits delivery 9     A focus on value 10     A business case linked to organizational strategy 11     The importance of change management 12     Commitment from business managers 13     IS/IT sufficient to do the job 13     Involvement of stakeholders 14     Educated in the use of technology 15     Post-implementation benefits review 16     The importance of a common language 17     Summary 19     2 Understanding the strategic context 21     The external and internal perspectives of business strategy: the competitive forces and resource-based views 22     Resources, competences and capabilities 23     Ends, ways and means 26     PEST analysis 28     Industry attractiveness and competitive forces analysis 28     External value chain analysis 34     Internal value chain analysis 37     Alternative internal value chain configurations 40     Balancing the external and internal contexts: the dimensions of competence 44     Linking business, IS and IT strategies 47     Managing the portfolio of IS/IT investments 49     Organizational information competences 56     Summary 59     3 The foundations of benefits management 61     The gaps in existing methods and the implications 62     The origins of the benefits management approach and process 67     An overview of the benefits management process 68     Step 1: Identifying and structuring the benefits 69     Step 2: Planning benefits realization 73     Step 3: Executing the benefits plan 75     Step 4: Reviewing and evaluating the results 78     Step 5: Establishing the potential for further benefits 79     What is different about this approach? 80     Summary 83     4 Establishing the why, what and how 85     Why: identifying business and organizational drivers 86     Establishing investment objectives 91     Linking the investment objectives to the drivers 93     What: the business benefits 94     How: the benefi ts dependency network 95     Measurement and ownership 103     Benefi t and change templates 111     Worked example: improved control within a food processing organization 111     Summary 121     5 Building the business case 127     Arguing the value of the project 129     Maintaining dependency: benefits are the result of changes 132     A structure for analysing and describing the benefits 133     Quantifying the benefits: the major challenge 136     Ways of overcoming the quantification problem 137     Financial benefits 144     Cost reductions 147     Revenue increases 148     Project cost assessment 150     Investment appraisal techniques 150     Variations in benefi ts and changes across the investment portfolio 152     Risk assessment 156     Completing the business case 161     Summary business case for the FoodCo project 163     Summary 166     6 Stakeholder and change management 169     Assessing the feasibility of achieving the benefit 170     Stakeholder analysis and management techniques 173     From analysis to action 178     Completing the benefits plan 182     Approaches to managing change 184     Matching the management approach and stakeholder behaviours 185     The nature of IT-enabled change management: is it different? 186     Alternative change management strategies 193     Summary 197     7 Implementing a benefi ts management approach 199     Rationales for introducing benefits management 200     Initiating and managing a benefits-driven project 204     The project sponsor 206     The business project manager 207     The role of project management offi ces (PMOs) 209     The first workshop 211     Activities between workshops 212     The second workshop 212     Inclusion of the benefi ts plan in the management of the project 217     Monitoring the benefits after implementation 223     Fit with other methodologies 224     Organizational benefits management maturity 225     Summary 234     8 The importance of context 235     Factors to take into account 236     The public sector 237     Small and medium-sized businesses (SMEs) 241     Multi-unit businesses: replicated deployments 242     Variations across the applications portfolio 245     Problem-based: key operational and support investments 247     Innovation-based: strategic and high potential     investments 248     Different application types 252     E-commerce and e-business 252     Information management (IM) 253     Customer relationship management (CRM) systems 256     Enterprise resource planning (ERP) systems 259     Infrastructure investments 263     Non-IT projects 266     Different IS/IT supply arrangements 267     Summary 271     9 From projects to programmes to portfolios 273     Defining programmes 274     Planned and emergent programmes 276     Programme dependency networks 276     The management of programme benefits 282     Managing the IS/IT project investment portfolio 284     Governance and portfolio management 285     Setting priorities 287     Links to drivers 290     Benefits management lite 293     Project portfolio management in practice 295     Summary 295     10 Creating a better future 299     The continuing challenge of IS/IT projects 300     Characteristics of the benefits management approach 300     The value of the process 301     Using benefits management to formulate and implement strategy 303     Incorporating benefits management into strategic thinking 308     Examples of benefits-driven strategies 311     Future trends in IS/IT and their implications for benefits management 312     A final word or two 323     Glossary 325     References 329     Index 337