By Suresh Weerasingham
Every project should have clearly defined steps.
In fact, delivering value begins with defining the expected high-level outcomes before a program or project is approved. This is how benefits management can help.
Benefits management is a set of processes ensuring a program or project delivers business value to an organisation. This also includes identifying, profiling, tracking, adjusting, and embedding the actual benefits.
Many organisations go through a due diligence process. This is designed to select the right opportunities to determine whether a project delivers benefits to the business. These benefits could be tangible or intangible and will have an acceptable impact on the bottom line.
However, what if an organisation that doesn’t undertake this step? No doubt they’ll find themselves attempting to retrofit a compelling return on investment (ROI) after the fact.
In the case of robotic process automation, this becomes challenging. For example, the implementation may have already progressed too far. The opportunity cost of stopping could be too great, which is why the question ‘should we automate or not?’ should be asked at the beginning of the process.
Obviously, it’s important to have the right-size governance in place. This will ensure the benefits profile of the program of work is monitored and worked through. Of course, automation may be an ideal solution. However, the business may also need to consider the benefits of automating vs business process re-engineering (BPR).
By using benefits management businesses will:
- Identify and clearly define the benefits
- Keep benefits within realistic boundaries of scope and value
- Ensure business areas play a significant role in the ownership of benefits during program or project execution and beyond
- Proactively manage the process of benefit realisation, including benefits measurement
- Continuously monitor and report on benefit realisation
Measuring these benefits ensures ROI is achievable as shown in this diagram:
Here at AUP IT, we have the expertise to work with you to develop a roadmap aligned to your strategic objectives. This will enable delivery of a structured program of work to maximise your ROI.
Using our automation technology, you can streamline operations to reduce costs and risks, improve efficiency, processing times and error rates.