Benefits Realization Governance

Correct Answer: When the benefits have been fully realized and are not expected to further grow

The benefits realization period ends when the benefits have been fully realized and are not expected to further grow, hence option with pk 151210 is the correct answer. This is because the purpose of evaluating benefits realization is to assess whether the project has delivered the expected benefits and value. If the benefits have been fully realized and are not expected to further grow, it implies that the project has achieved its objectives. On the other hand, the other answers are incorrect. 'Immediately after project closure' (pk 151211) is not correct because there may still be benefits to realize after the project has officially closed. 'When the project budget has been fully spent' (pk 151212) is also not a valid end to benefits realization because the realization of benefits does not solely depend on the expenditure of the budget. Finally, 'one year after project closure regardless of the benefits outcome' (pk 151213) is not correct because the benefits realization period is not determined by a fixed period but by whether the benefits and value have been fully realized.

Correct Answer: Benefits realization plan

In a scenario where a project is not delivering the expected benefits, the 'Benefits realization plan' should be reviewed and possibly adjusted. This strategy outlines the anticipated benefits of a project and how they will be delivered and measured. The 'Corporate Social Responsibility strategy' is a broader concept and does not directly focus on the project’s benefits. 'Marketing strategy' may impact the visibility and uptake of a project's benefits, but does not decide the realization of these benefits. The 'Competitor's business strategy' is not relevant to the internal benefits of a project.

Correct Answer: To visualize the relationship between project outputs and strategic objectives

The primary purpose of conducting a benefits mapping exercise in benefits realization governance is to visualize the relationship between project outputs and strategic objectives. This is the most accurate answer because benefits mapping is a crucial tool that helps project managers and stakeholders understand how the deliverables of a project contribute to the overall strategic goals of an organization. It creates a visual representation that links project activities and outputs to intermediate outcomes and ultimately to the strategic objectives. The other options are not the primary purposes of benefits mapping: Creating a detailed timeline for benefit realization is more related to benefits scheduling or planning, not mapping. Assigning monetary values to expected benefits is part of benefits valuation, which is a separate process from benefits mapping. Identifying potential risks that may hinder benefit achievement is more closely related to risk management. While benefits mapping can indirectly help identify risks, it's not the primary purpose of the exercise. Benefits mapping is essential for ensuring that projects are aligned with organizational strategy and for demonstrating how project outcomes contribute to overall business value.