Guide: Benefits Realization Governance

What is Benefits Realization Governance?
Benefit Realization Governance is a structure that ensures projects or changes implemented in an organization deliver the expected benefits. It focuses on achieving strategic objectives through the effective management of benefits.

Importance
Benefits Realization Governance is important because it ensures that resources are effectively utilized and investments made towards change are yielding the expected results. It helps in aligning projects with the organization's strategic goals, thereby providing value for money. Additionally, it provides transparency and accountability within the organization.

How it Works
Benefits Realization Governance involves creating a framework that outlines how benefits will be tracked and measured, identifying benefits realisation roles, responsibilities, and the process to follow. This process includes benefit identification, benefit analysis & planning, benefit delivery and benefit review.

Exam Tips: Answering Questions on Benefits Realization Governance
When answering questions on Benefits Realization Governance:

1. Ensure you understand the concept of benefits realization.
2. Define Benefits Realization Governance clearly in your answers.
3. Explain how Benefits Realization Governance drives strategic alignment.
4. Showcase the relevance of Benefits Realization Governance by citing practical examples wherever possible.
5. Be familiar with its process right from benefit identification to review.

Understanding and answering questions on Benefits Realization Governance requires a good grasp of not just the definition but also its practical application in an organizational setting.