The Major Projects Association
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28th February 2019 at 12:00 pm

Can projects achieve benefits without really considering value and is there value to be had without the realisation of benefits?

Half Day Seminar

Church House Conference Centre, London, Conference Centre Westminster, Deans Yard, London, SW1P 3NZ

Morag Stuart, Commercial Improvement Director, Ministry of Defence confirmed to Chair this event.

Within the many improvements to project and programme management practice over recent years, there has rightly been an increased focus on the benefits or value realised through investments in change. At both the start and finish of large projects, internal and external stakeholders ask questions about ‘what is the reason for this change?’ and then ‘what exactly did I get for the investment in change?’ Benefits and Value are clearly important aspects of scrutiny and effective stakeholder management. Equally during these times of financial uncertainty organisations must make decisions about which benefits to deliver and how can they deliver the most value. There is a risk however, that too much focus on driving down costs can negatively impact or even reduced the actual realisation of benefits. Suddenly, cost becomes the key driver rather than value.
On large projects and programmes which can take many decades from inception through to delivery it is important to re-assess the overall value proposition. Perceptions of value depend on the situation and vary between people and over time so it is important to regularly re-evaluate value – what is important today may not be so important tomorrow. Objectives need to be checked or revalidated at logical intervals to provide the opportunity to change priorities within the project to optimise its outcome and maximise stakeholder satisfaction. This seminar will consider the many important issues around major project benefits realisation and in particular will ask:
1. What is the difference between benefits and value?
2. Is it possible to get the right balance between focusing on costs and optimising benefits?

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