BSB61218 Advanced Diploma of Project Management: BSBPMG623 Manage Benefits

BSB61218 Advanced Diploma of
Project Management
BSBPMG623
Manage benefits
Task 1
Business College at International House

RTO Code: 91109 CRICOS 02623G
Level 1, 203 Clarence St, Sydney NSW 2000 | Floor 1, 237 Oxford St, Bondi Junction NSW 2022
3 Searcy St, Darwin NT 0800 | Level 6, 601 Bourke St, Melbourne VIC 3000
info@ihBC.edu.au| www.ihBC.edu.au
Knowledge Questions Assessment
Candidate Instructions
You will answer knowledge questions for purposes of formal assessment as per the questions outlined in
the questioning record below, and any additional probing or clarification questions required by the
assessor.
The knowledge questions are designed to confirm your competency for all the required knowledge in the
unit of competency.
Task Details
There is no restriction on the length of the question responses, unless indicated in the question or time
restriction in completing the assessment. It is anticipated however that the assessment will take
approximately 2 hours to complete, and any word limit is as a guide only.
The assessment may be re-attempted on two further occasions (maximum three attempts in total). All
assessments must be resubmitted 3 days within receiving your unsatisfactory grade. You must clearly
indicate “Re-submission” on your resubmitted work.
You must complete all questions unassisted by the assessor or other personnel but may refer to reference
material as may be needed.
All questions must be answered satisfactorily for the assessment to be completed satisfactorily.
For any assessment conducted that is incomplete, or without satisfactory performance, the assessment
will need to be completed again after further training support. This may be simply to focus on question
areas not achieved in the prior assessment.
Evidence to be collected
Answer the questions in as much detail as possible, considering your organisational requirements or the
simulated organization provided.
In undertaking this assessment task, you as the candidate are providing consent for your work to be
reviewed for the purposes of formal assessment in the unit(s) of competency. If you have concern
regarding this permission, please discuss this with your assessor prior to undertaking the task.
Objective To provide you with an opportunity to show you have the required knowledge
for this unit (for example: to develop a strategy to measure marketing
performance, which includes:
o outline range of criteria for selecting metrics
o explain range of marketing functions within an organisation
o summarise range of marketing metrics and their usefulness to measure key
marketing operations.)
Candidate Declaration
Candidate name:
Trainer’s name:
Date:
Assessment declaration: I declare that no part of this assessment has been copied from another
person’s work, except where clearly noted on documents or work submitted.
I declare that no part of this assessment has been written for me by another
person. I understand that plagiarism is a serious offence that may lead to
disciplinary action.
Candidate signature:
Your trainer and assessor will mark your work satisfactory or not satisfactory and provide you
with constructive feedback on Canvas.

Task 1: Knowledge Questions
How can program benefits be delivered? Mention at least two delivery models
Question 1 in your answer.
(Min. 70 words)
Answer:
It's not so much a matter of being on time, on budget, and of the required quality in terms of
programme and project management as it is about providing business advantages. The best
practice approaches strongly focus on benefits realisation in both PRINCE2 and Managing
Successful Programmes (MSP).
First, in regard to PRINCE2, any size or complexity project can be successfully completed using
PRINCE2. In detail, PRINCE2, which is based on a wealth of expertise and understanding, is a
project management method widely adopted around the world, used by people and
organizations from wide-ranging industries and sectors. The PRINCE2 method comprises four
integrated elements of principles, themes, processes and the project environment. The seven
principles of PRINCE2 are the guiding requirements and good practices which determine
whether the project is genuinely being managed using PRINCE2. Moreover, The seven PRINCE2
themes including Business case, Organization, Quality, Plans, Risk, Change, Progress. Processes
of PRINCE2 describe the steps of the project lifecycle, from the initial idea to project closure
(and measurement of the benefits). Each process provides checklists of recommended activities,
related responsibilities and guidance about how to tailor to a specific environment. As part of
each process, you'll find checklists of recommended tasks, information on corresponding roles,
and suggestions on how best to adapt the process to your particular context.
Second, As a best-practice programme management framework, MSP (Managing Successful
Programmes), 5th edition, is meant to connect programmes with organizational strategy and
allow business agility. Measurable Service Providers focus on the delivery of benefits, while
minimizing risk and actively involving stakeholders in the process.
MSP is a collection of principles, themes, and processes that offer a roadmap for the
programme's whole lifespan - including big and complicated initiatives.
The principles describe the qualities of a successful programme.
An organization's leadership style, organizational structure, and controls can be improved by
implementing governance concepts.
In the lifespan of a programme, the procedures offer a path for delivering new capabilities and
desired objectives.
Question 2 Outline how decision-making theory and analysis can apply to benefits’
assessment.

(Min. 80 words)
Answer:
 Decision theory brings together psychology, statistics, philosophy, and mathematics to analyze the
decision-making process that benefit assessment is intended to provide managers with a basis for decision
making;
 One of the decision making analysis's advantagous aspect is providing for more information that providing
funders with answers to the question of what they are getting for their money; and it will provide other
stakeholders with information about the organisation in term of benefit assessments. In detail, a benefit
analysis is based on various kinds of investigation, which can be compiled in a variety of ways, depending
on who is the intended recipient of the information.
 Benefits management is the common thread between programme and project delivery and successful
change management. The approach to programme, project and change management needs to be benefit
driven to ensure maximum value from the investment in change. This requires strongly understanding of
decision-making theory and analysis to gain expected results for project.
Question 3 Select and briefly describe (Min. 10 words each) four types of program benefits.
Answer:
Program benefits Description of program benefit (min. 10
words per benefit)
1. Quantitative Benefits Examples are cycle time to increase
throughput, elimination of time-wasting tasks
and inefficient processes, lowered level of
material resources utilization to get same
outputs, etc.
2. Qualitative Benefits Qualitative Benefits, including quality

management, improved project requirements
compliance and regulation, secured access to
corporate information, increased staff
motivation, etc
3. Direct Benefits Direct Benefits are derived directly from the
project and meet interests of concerned
people. Example: implementation of a new
task management system into offices of an
organization will provide staff members with
direct benefits of managing tasks and office
workflows better
4. Enabling Benefits These are particular to projects that bring no
specific benefits but which are critical to the
delivery of the benefits from associated
projects. Example: if a company takes the
initiative to improve skills and knowledge of
personnel involved in managing projects, this
initiative delivers no direct benefits; however,
it will improve the company’s ability to run
and complete projects on time, and therefore
it contributes to the possibility of getting
benefits from future projects.
How are program benefits identified and documented in the workplace?

Question 4
(Min. 50 words)
Answer:
There are 3 main stages of identifying and documenting program benefits conducting as
Benefits Realization Management. Each high level stage has a number of key objectives,
activities and deliverables associated with it. The three stages are: Identify benefits, Execute
benefits and Sustain benefits. In the fist stage, Identifing the value expected to get out of a
specific project or initiative before you start. During this stage, it is important to determine
whether project is attainable and what results it can produce. Stakeholders must ensure that all
benefits are aligned with the organization's strategic goals and vision. Second, During this phase,
work on the project starts, and progress is monitored carefully, ensuring that each team delivers
the expected benefits. By monitoring the project from the get-go, you will keep the initiative in
line with the company’s strategic objectives. Last, This part of the process actually occurs post-
implementation. Deliver the project deliverables to the business, and take time to evaluate how
the project went. Talk about wins, failures, and “what could be improved” with everyone
involved in the project. As you glean more insight into how you can improve, you’ll be in a great
place to continually improve performance.
What is the relationship between program delivery and benefits realisation
Question 5 approaches?
(Min. 50 words)
A benefits realisation plan acts as an overview of the main milestones detailed in each benefit
profile. It serves as a management tool to monitor, track and manage the collective set of
benefits associated with a programme or project. Program and Project Delivery is all about how
well you can execute your plan.Thus, the benefit realisation appoaches and program delivery
should be involved together to maximize project’s outcomes
What should you consider when forecasting program benefits realisation in a
Question 6 program?
(Min. 50 words)
Answer:
Benefits realization is a positive change but one that needs to be ingrained in each person's
work that contingent on making predictions and meeting commitments relative to products,
services, or results and providing sustainable benefits for customers and end users in the
process. Moreover, Benefits realization assess and mitigate the risks arising from poor
forecasting or program delivery issues. These are some crucial things that need to be consider
when forecasting program benefits realisation in program: the background to the programme or
project and its purpose, reference to the approach to benefits management, details of the
benefits methodology to be used and its key stages, a description of the roles, functions and
responsibilities for benefits planning and realisation - including governance structures


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BSB61218 Advanced Diploma of

Business College at International House

Business College at International House

Business College at International House

2. Qualitative Benefits Qualitative Benefits, including quality

How are program benefits identified and documented in the workplace?

Business College at International House

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