Managing Benefits Foundation™

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Course Overview:

The purpose of the Managing Benefits guide and accredited training is to provide managers and practitioners from multiple disciplines, who are working in a variety of organizations, with an understanding of the principles, practices and techniques used to support effective benefits management.Managing Benefits will provide you with a detailed overview of benefits management – what it is, the case for doing it, and some common misconceptions that can limit its effectiveness in practice.  It consolidates existing guidance on benefits management while expanding on the specific practices and techniques aimed at optimizing benefits realization. Learn how to get started in implementing effective benefits management practices and sustain progress based on the principles and using the techniques identified in the guide.

Course Description:

SOMOS offers Managing Benefits training in two parts: a three day Foundation course which provides participants with a general understanding of the key principles and practices of Benefits Management and the two day Practitioner course for those who wish to become accredited practitioners.

In the Foundation course, candidates will learn:

  •  Definitions, scope and objectives of benefits management, barriers to its effective practice, and the key success characteristics.
  •  7 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.

Objectives:

Benefits are the rationale for the investment of taxpayers’ and shareholders’ funds in change initiatives. The significance of this is even greater in a volatile economic climate where the failure to optimize benefits realization may also put future initiatives at risk as investors lose confidence in the organization’s ability to manage change.  Gaining a Managing Benefits certification can help you and your organization to address these concerns and achieve competitive advantage by fully realizing the benefits of your programmes and projects.

Organizations and governments invest in projects and programmes to realize benefits in terms of increased revenue, efficiency savings, delivering a tangible contribution to a strategic objective or business priority, or meeting a legal or regulatory requirement or to maintain business as usual.  The significance of this is even greater in a volatile economic climate where the failure to optimize benefits realization may also put future initiatives at risk as investors lose confidence in the organization’s ability to manage change.  Managing Benefits addresses these concerns and helps organizations to achieve competitive advantage by fully realizing the benefits of programmes and projects.


Duration:

Foundation – 3 days


PDUs

3 days | 45 PDUs


Course Outline:

Day 1
  • Introduction
  • Overview
  • Benefits Management Principles
  • Benefits Management Practices
    • Identify and Quantify
    • Value & Appraise
    • Plan
  • Homework
Day 2
  • Benefits Management Practice
    • Realize
    • Review
  • Portfolio Based Application
  • Implement Benefits Management
  • Sustain Progress & Measuring Benefits
  • Practice Exam
  • Homework
Day 3
  • Review Practice Exam
  • Revision

Class Size:

SOMOS’ experience has shown that the optimal class size is 15 people to allow for maximum interaction between the instructor and candidates.


Course Materials:

  • Accredited Managing Benefits course materials designed to help students gain an understanding of the principles, practices and techniques used to support effective benefits management.
  • Course manual: “Managing Benefits”

 


Exam Format
  • Multiple choice format
  • 50 questions per paper
  • 25 marks or more required to pass (out of 50 available) – 50%
  • 40 minutes duration
  • Closed-book.

Target Audience:

The guidance is relevant to all sectors and types of project or programme, or what the guide refers to as ‘change initiatives’.

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:

  • Senior responsible owners & directors of change.
  • Strategic planners and policy leads.
  • Business case developers and project appraisers.
  • Portfolio, Programme & Project Managers.
  • Portfolio, Programme & Project Office staff.

Prerequisites:

Managing Benefits has been carefully designed to complement existing Best Practices 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 optimizing benefits realization.  While previous Best Practice training is not a prerequisite, participants should have experience in project, portfolio or program management.


Managing Benefits™ is a trademark of APMG International.

PRINCE2®, MSP®, P3O® & MoP® are Registered Trademarks of AXELOS Limited.