Benefits are THE reason for investing in innovation to get a return on investment.
In other words; should be the primary focus of a product owner generating value for the organization, because the desired effects are converted into benefits for the organization. Think of higher turnover, higher customer satisfaction or lower risks. Because benefits management takes “begin with the end in mind” as its starting point (yes, Stephen Covey), it contributes to strengthening focus. And because Benefits Mapping visualizes the relationship between initiative and benefit owners, it contributes to ownership.
A product owner is responsible for prioritizing the product backlog and continuously achieving the highest business value for the organization. The question, however, is to what extent releasing and deploying user stories actually leads to benefits for the organization? Namely, benefits only come about when deployed user stories are actually used by people.
Let's discuss an example. A product owner is responsible for the interaction with the customer and thus for increasing turnover by using a CRM system. Nice improvements are made in the CRM system. Such as, for example, a next best sell suggestion. Such a wonderful functionality only makes sense if account managers actually approach the customer and discuss this potential sale and know how to sell it to the customer. Only with an increased turnover as an effect, does the organization earn back its investments and realize benefits. If the delivered user stories are small in nature, self-evident and easy to use, then perhaps little extra is needed to realize the extra benefits. But if that is not the case, then extra efforts are needed. Benefits management and benefits maps help with this.
Strengthen focus and ownership through benefit management
My experience is that performing benefits management and creating benefits maps contribute to realizing desired effects as a result of investment decisions. Benefit maps show the relationship between the goal, the benefits required for this, the intended changes that must take place through different behavior of people or adjusted processes, who will use the delivered (minimum viable) products. Benefit maps visualize at a glance the relationship between the initiatives from daily practice and the strategic objectives. This visualization fits seamlessly into the scrum cycle "transparency, inspect and adapt". By physically hanging the benefits map, it stimulates shared understanding among stakeholders.
Focus is enhanced because the strategic goal is directly related to the day-to-day practice of what solution teams are developing. Solution teams can ask product and business owners questions about this. This contributes to a sense of direction and purpose. Income cards show who owns the income. The benefit owners must take action to recoup the investments. These benefit owners will have to be authority figures in the organization who are able in the line. It is those senior leaders in the organization who are going to realize the benefits. In the example mentioned, this is, for example, a commercial director who is ultimately responsible for turnover and who actually manages account managers and/or sales managers.
I am curious what the experiences of product owners are with the actual involvement of the realization of benefits, especially after the delivery of functionalities has been realized. And to what extent benefit cards could or do contribute to this. Curious about reactions?
Would you like to know more about benefit management and/or discover for yourself the advantages of using benefit cards? Let me know!
[email protected] of 06 1321 7772.
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