Benefits Realisation Management and its influence on project success and on the execution of business strategies

TLDR

Business strategies that require projects often fail to be implemented despite the use of project, programme and portfolio management techniques, and while Benefits Realisation Management (BRM) is designed to bridge the gap between strategy planning and execution, there is no empirical evidence of its effectiveness. This study aims to evaluate the impact of BRM practices on project success rates. The authors conducted a survey of practitioners in Brazil, the United Kingdom and the United States to assess BRM practices. Results indicate that BRM practices positively predict project success and the creation of strategic value, suggesting they can effectively support the execution of business strategies.

Abstract

Business strategies, which imply organisational change, usually require the development of projects, e.g. IT projects. However, organisations fail in implementing their strategies even though they employ project, programme and portfolio management techniques. Benefits Realisation Management (BRM) is a set of processes structured to close the gap between strategy planning and execution by ensuring the implementation of the most valuable initiatives. However, there is no empirical evidence of its effectiveness. This paper presents the results of a survey to practitioners in Brazil, United Kingdom and United States evaluating the impact of BRM practices on project success rate. Our results show BRM practices being positive predictors to project success on the creation of strategic value for the business. Therefore, these results suggest that BRM practices can be effective to support the successful execution of business strategies.