Overview

This Managing Benefits course provides:

• An overview of benefits management – what it is, the case for doing it, and some common misconceptions that can limit its effectiveness in practice.
• Descriptions of the seven principles upon which successful approaches to benefits management are built, and examples of how they can be/have been applied in practice.
• Guidance on how to apply benefits management at a portfolio level, as well as at an individual project or programme level.
• Details of the five practices in the Benefits Management Cycle and examples of how they can be/have been applied in practice.
• Advice on how to get started in implementing effective benefits management practices and sustain progress.

Managing Benefits has been carefully designed to complement existing Best Practice in portfolio, programme and project management such as PRINCE2®, MSP®, P3O® & MoP®. It consolidates existing guidance on benefits management into one place, while expanding on the specific practices and techniques aimed at optimising benefits realisation.

The Foundation level aims to measure whether a candidate understands the benefits management principles, practices, techniques, roles, responsibilities and documents, specifically to know and understand the:

• Definitions, scope and objectives of benefits management, barriers to its effective practice, and the key success characteristics.
• Principles upon which successful approaches to benefits management are based.
• Five practices contained within the Benefits Management Cycle and relevant techniques applicable to each practice.
• Scope of key roles and responsibilities for benefits management and the typical contents of the main benefits management documentation.
• Approaches to implementation and the factors to consider in sustaining progress.

Benefits for your organisation

• Realize benefits to improve prospects in terms of investors, clients, revenue and efficiency levels regardless of professional discipline and type of organization.
• Ability to demonstrate more efficient and effective practices through better use of available resources. This enhances an organization's ability to retain motivated and skilled change management staff and to attract investors.
• Improved return on investment from change initiatives as more benefits are realised and sustained for longer.
• Enhanced confidence on the part of regulators and funding agencies - so helping ensure continued funding for change.
• Have an organization-wide understanding of the benefits a project or programme will produce and be able to measure when they are realized.

Benefits for you

• Enhanced professional competence through benefits management practices and techniques.
• Ability to implement methods, including knowledge of management accountancy, behavioural finance, psychology, neuro-science and systems thinking.
• Understanding of the seven principles upon which successful approaches to benefits management are built and applied to projects, programmes and portfolios. The guide provides a route map to adoption of more cost-effective techniques and practices.
• Adept at forecasting realistic benefits to produce business cases which address business issues and objectives and provide a route to measure success.
• Outline costs and benefits to drive business objectives.

Will Managing Benefits be right for you?

The target audience includes all those with a role in ensuring best use of funds by maximizing the benefits realized from change initiatives. This multi-disciplinary group includes:

• Change leaders (e.g. senior responsible owners & directors of change)
• Change initiators (e.g. strategic planners and policy leads)
• Change appraisers and evaluators (e.g. business case developers and project appraisers)
• Change implementers/enablers (e.g. portfolio, programme & project managers)
• Change support staff (e.g. portfolio, programme & project office staff).

Everyone involved in managing benefits, development of the Business Case, or indeed the Project will benefit from the tools and techniques described in the online Managing Benefits course, and can go on to take a recognised certification through the Foundation exam (the exam is not included with the course).

Although Managing Benefits would apply to any organisation undertaking change, it is particularly relevant to companies using PRINCE2® or MSP®, and builds on the Benefits Realisation within the project and programme lifecycle.

As an individual, Managing Benefits also builds on your existing qualifications of PRINCE2® or MSP® to better plan, forecast and realise improvements for your business.

Certification / Exam

This course specifically provides the background knowledge for the related certification exam (which learners must pass in order to achieve the formal Certification). IMPORTANT: Please note that the certificationEXAM IS NOT INCLUDEDwith this course. The exam can be purchased separately from the course publisher and booking details for the exam are provided on request.

Exam format:

• Online from your preferred location (webcam and microphone required), or paper-based at selected exam centres (see below).

• Multiple choice format

• 50 questions per paper

• 25 marks or more required to pass (out of 50 available) – 50%

• 40 minutes duration

• Closed-book.

The course on this page is offered by Training Bytesize, an Accredited Training Organisation of The APMG Group Ltd. PRINCE2®, MSP®, P3O® & MoP® are registered trade marks of AXELOS Limited. All rights reserved.