Benefits management defines benefits, implements the necessary change and ensures the benefits are realised. From an application perspective, this module combines a set of principles, processes and techniques for a student to master and execute when managing projects. This module proposes a definition of value that embraces both monetary and non-monetary benefits, and argues that the subjectivity of value increases the need for it to be actively managed. It provides a method, supported by techniques, for allocating scarce funds as effectively as possible. This module will cover real-life case studies on organisations adopted Benefits Management successfully and less successfully. This module will help candidate to take MoV foundation and Practitioner Exam. This module will cover hands on training on strategic benefits management dashboards for projects (e.g. Wovex and Amplify) and it will equip students with skills to design their own Benefits Management and Management of Value methodologies including their dashboards.
Total contact hours: 24
Private study hours: 126
Total study hours: 150
Main assessment methods:
VLE Test 30%
Individual Essay 3000 words (70%)
Reassessment methods:
100% coursework
APMG International (2014), Managing benefits: optimizing the return from investments, UK
Barclay and Osei-Bryson (2015), Strategic Project Management: Contemporary Issues and Strategies for Developing Economies, Taylor and Francis Group, US (Chapter 4, 6, 15 and 17)
Office of Government (2010), Management of value, Stationery Office; UK ed. edition
Project Management Institute (2018), Benefits Realization Management: Standard Guide, PMI Publications, US
Zwikael and Smyrk (2019), Project Management: A benefits Realization Approach, Springer, Switzerland
The intended subject specific learning outcomes.
On successfully completing the module students will be able to:
- Demonstrate a systematic understanding of Benefits Management and Value Management,
- Demonstrate a comprehensive understanding of techniques applicable to the learners' research on Value and benefits management
- Systematically apply Management of Value MoV® on operational environment
- Deal with complex value management issues both systematically and creatively, make sound judgements in the absence of complete data, and communicate their conclusions clearly to specialist and non-specialist audiences
The intended generic learning outcomes.
On successfully completing the module students will be able to:
- Demonstrate critical thinking and problem solving skills
- Demonstrate a systematic understanding and application of evidence-based decision making
- Deconstruct complex problems
- Demonstrate comprehensive analytical skills by linking theoretical perspectives to practical situations
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