In his recent UMT360 webinar, Benefits Realization: Unleashing the Power of the PMO, Frank La Rocca, the Director of Business Improvement Services in Con Edison’s Finance Organization, shared a benefits realization solution to effectively track the actual value delivered across the investment portfolio. To ensure you’re realizing planned benefits, La Rocca said organizations should have a dynamic reallocation process in play. In a poll conducted during the webinar, 52% of attendees said they currently do not have a reallocation process allowing them to re-evaluate projects during the year and recapture funds which can then be reallocated to new initiatives. “If you’re finding that you’re leaving money on the table, this is a good way to move money around and perhaps squeeze more juice from the portfolio,” he explained. La Rocca also said it’s important that organizations be aware of their churn rate, something that 69% of attendees did not know. His company takes the original portfolio and subtracts the give backs and under-runs, then adds approved increases, over-runs and new projects to come up with a sense of the churn or project work that didn’t happen. For more on creating a benefits realization framework to improve business results, view Frank La Rocca’s webinar available here.
PPM & Benefits Realization
Ben is the Chief Product and Marketing Officer for UMT360, a leading enterprise portfolio management solution that digitalizes investment planning and controls across portfolios to deliver the financial intelligence and transparency needed to make smarter decisions to drive top and bottom line performance.