The Benefits Management Domain defines, creates, maximizes, and delivers the benefits provided by the program.
The PgMP Certification Benefits Management domain includes the following tasks:
- Develop the Benefits Realization Plan
- Define and set measurement criteria to establish the program baseline.
- Communicate the plan to stakeholders, including sponsors and the steering committee.
- Identify and Capture Synergies and Efficiencies
- Update the benefits realization plan based on synergies and efficiencies found during the program life cycle.
- Communicate these updates to stakeholders, including sponsors and the steering committee.
- Develop a Sustainment Plan
- Identify processes, measures, metrics, and tools needed for managing benefits post-program completion.
- Ensure the continued realization of intended benefits.
- Monitor Metrics
- Forecast, analyze variances, develop “what if” scenarios and simulations, and utilize causal analysis.
- Take corrective actions to maintain or improve benefits realization.
- Verify Close, Transition, and Integration
- Ensure that the close, transition, and integration of projects/components meet or exceed benefit realization criteria.
- Achieve the program’s strategic objectives.
- Maintain Benefits Register
- Record program progress and report benefits to stakeholders through the communications plan.
- Analyze and Update Plans
- Evaluate benefits realization and sustainment plans for uncertainty, risk identification, risk mitigation, and risk opportunities.
- Determine if corrective actions are necessary and communicate these to stakeholders.
- Develop a Transition Plan to Operations
- Guarantee the sustainment of products and benefits delivered by the program through a detailed transition plan.
To gain a comprehensive understanding of Benefits Management, consider the following steps:
- Review the Domain 3 ‘Benefits Management‘ section in the PgMP Examination Content Outline.
- Review Chapter 2.2 ‘Benefits Realization‘ within the Standard for Program Management.
- Dive into Chapter 3.4, titled ‘Benefits Management,’ within the Standard for Program Management.
- Enhance your knowledge by purchasing any book focused on PgMP preparation and reading the chapters specifically dedicated to Benefits Management.
- Explore instructional videos on this topic:
6. Explore and complete the templates with real data from your programs to streamline your program management processes and enhance your expertise:
7. Test your knowledge to complete the Benefits Management domain study.
Knowledge Specific to the Benefits Management Domain:
- Benefit optimization
- Business value measurement
- Decision tree analysis
- Maintenance and sustainment of program benefits post-delivery
- Performance and quality metrics
- Program transition strategies
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