Benefits realization and value management in project management

As uncomfortable as it might be to hear, Dr. Kerzner stresses that the historical failure of benefits realization is not – as boards might believe – about poor estimating; it’s about poor project management.

We’re in changing times and project management needs to improve its performance in delivering benefits and value – but this requires a change in the role and responsibilities of project managers.

In the traditional project management 1.0 approach, project managers are brought in after project approval, given a budget, a target end date and told to execute the project regardless of whether the project manager thinks it’s possible. Meanwhile, functional managers retain the best resources for projects that affect their annual bonuses, leaving longer-term strategic projects to suffer.

In addition, 1.0 is typified by rigid, one-size-fits all methodologies created for project managers that they were obliged to follow.

With the move to project management 2.0, the various factors involved in project management have had to change:

project management 1.0 and 2.0 comparison grid

comparison of project management 1.0 and 2.0 grid continued

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