Life Cycle Governance
Establish governance structures (evaluation, direction, and monitoring) for benefits management throughout the investment life cycle, from decision-making on the initial concept through to the eventual retirement of assets.
Improvement Planning
Practices-Outcomes-Metrics (POM)
Representative POMs are described for Life Cycle Governance at each level of maturity.
- 2Basic
- Practice
- Define/reflect the need for benefits management in the governance framework.
- Outcome
- Benefits planning and review are done for some investments, but there is a lack of consistency in how this is done.
- Metric
- % of benefit management processes that are covered by a governance framework.
- Practice
- Establish a basic governance approach for benefits planning and review.
- Outcomes
- Some understanding is emerging of the need to manage business change.
- Ownership of and accountability for benefits are highlighted at the general business level.
- Metric
- % of benefits management activity with governance responsibility established.
- 3Intermediate
- Practice
- Establish a comprehensive and consistent governance framework (including processes/practices, roles and responsibilities, organizational structures, information requirements and supporting tools) for benefits planning, enablement, and review.
- Outcome
- Most major investments are managed as programmes of business change with clear ownership of and accountability for benefits.
- Metric
- % consistency in the use of a governance framework that covers all major investments.
- Practice
- Identify integration/alignment points for new investments with other governance activities — e.g., enterprise/corporate, financial, compliance, performance etc.
- Outcomes
- Benefits planning, enablement, and review are governed and managed for all major investments in a consistent way across the organization.
- There is some integration with other governance activities.
- Metric
- % alignment/integration with other relevant governance processes.
- 4Advanced
- Practices
- Extend the governance framework to include benefits planning, enablement, and harvesting across the full life cycle of an investment decision.
- Integrate investment and asset management so that investments and resulting assets are managed as one or more portfolios.
- Outcomes
- Benefits planning, enablement, harvesting, and review are governed and managed for all investments in a consistent way across the organization throughout the full life cycle of an investment decision.
- There is significant integration with other governance activities.
- Metric
- % alignment/integration with asset management processes.
- Practice
- Embed benefits management practices throughout the full life cycle of an investment decision.
- Outcomes
- All investments are recognized as having some element of business change, and all major investments are managed as programmes of business change.
- There is clear ownership of and accountability for benefits for all investments and resulting assets at both the individual investment/asset and portfolio levels.
- Metric
- % of investment life cycle with governance applied.
- 5Optimized
- Practice
- Monitor, review, and adjust/improve the governance framework.
- Outcome
- A high level of benefits realization is achieved and sustained.
- Metric
- % Year on year improvement in investment (planned versus actual) metrics.
- Practice
- Ensure optimal integration/alignment points with other governance activities — e.g., enterprise/corporate, financial, compliance, performance etc.
- Outcome
- There is seamless integration between benefits management and other governance activities.
- Metric
- % alignment/integration between benefits management and other relevant governance processes.