Benefits Realization Management

Correct Answer: Assign a benefits owner to track if the benefits increase after more users have converted to the new system.

The best course of action in this instance would be to assign a benefits owner to track if the benefits increase after more users have converted to the new system. This is because the benefits realized from a project may not immediately match expectations, especially for a system that requires user adoption, such as a payment system. As more users convert to the new system, the realized benefits may increase. Scheduling an extra project to revisit the project scope might be an overreaction and may drain resources without guarantee of improving the benefit realization. Considering the project a failure and reporting this to the stakeholders also seems premature given that user adoption rates might not have peaked yet. Closing the benefits realization plan and starting a new one doesn't directly address the problem; instead, more time and resources should be given to monitoring and increasing user conversion rates.

Correct Answer: Immediately engage stakeholders to review and modify the benefits management plan.

The best course of action when the benefits management plan does not entirely align with stakeholder expectations is to 'Immediately engage stakeholders to review and modify the benefits management plan.' This not only directly addresses the issue at hand but also ensures that proceeding steps are based on a common understanding and agreement with all major stakeholders. Option 151167 - 'Proceed with the current benefits plan and engage stakeholders during project review' might fail to address stakeholder concerns timely and may lead to problems down the line. Option 151168 - 'Alter the benefits management plan according to your understanding and inform stakeholders later' also presents similar risks, since it involves making decisions on behalf of the stakeholders without their input. Option 151169 - 'Delay the project until stakeholders decide to change their expectations' is not practical and can lead to project delays and added costs.

Correct Answer: Develop a detailed benefits realization plan with assigned key roles to follow up and evaluate benefits after the project closure.

The best answer is 'Develop a detailed benefits realization plan with assigned key roles to follow up and evaluate benefits after the project closure.' This approach is the most comprehensive and effective in ensuring long-term benefits are properly measured and realized. This is because it entails a detailed plan and assigns key roles to ensure effective follow-up and evaluation after project closure. On the other hand, 'Cancel the continued follow-up post-project completion.' is not a feasible answer as it suggests abandonment of follow-up efforts before the benefits have been fully realized. This could lead to missing long-term benefits or unexpected challenges that arise after the project's completion. 'Document all estimated advantages and pass them onto the stakeholders.' While this, in itself, is not a wrong approach, it misses the active follow-up and evaluation that goes into a comprehensive benefits realization plan. Similarly, 'Make a brief exit report and leave the benefits realization to the organization's management team.' seems to suggest shirking responsibility and passing the buck to the organization management. However, as the overseer of the project, the Project Manager has the responsibility and understanding to monitor and ensure long-term benefits realization. Hence, this approach is also not advisable or efficient.