Tranzform Group and AIM (Australian Institute of Management) have joined forces to conduct a "Hot Topics" seminar on the subject of Benefits Realisation: Are you really getting enough?, the first of which will be held in Sydney on 19 May 2010.

Now that the economy is turning the corner, many businesses are planning new projects to improve various aspects of their operations and position themselves for growth. But if your organisation is like most, you can point to projects that failed to realise the benefits you expected. In this leaner, “re-set” economy it is vital that resources are utilised efficiently and effectively, so that all of the potential project benefits are realised.

A recent survey of “top 200” Australian businesses and government organisations by Tranzform Group, a strategy execution and project implementation firm, found that for nearly half (45%) of these organisations, no projects delivered all of their expected benefits. In fact, just 20% of participants reported that they received all the benefits on more than two out of three projects.

Failure to solve the benefits realisation dilemma is costly. Suppose a business plans a project that will cost $60 million, and result in a gain of $600 million. If the project costs 10% more than expected, that’s an added expense of $6 million. But, if the project under-delivers by 10%, that’s a loss of $60 million!

Careful accounting for costs does not solve the benefits problem. “Most organisations spend a lot of effort to measure project efficiency, but they need a new measure if they want to understand their project effectiveness and success,” says Geoff Rinaldi, Managing Director of Tranzform Group. “Projects should have benefits worth many times the costs, so it is important to ensure that effort is directed appropriately. Businesses are good at managing the costs and controlling inputs. They need to spend more effort where the money is - ensuring the benefits are realised.”

Fortunately, the benefits realisation problem can be solved. Businesses that develop a benefits-driven mindset can realise not just all the benefits expected from a project, but often exceed expectations. “Businesses and organisations must go beyond accounting for benefits after-the-fact and develop a shared view of how the project will deliver the desired value from the beginning,” says Rinaldi.

The seminar will cover the warning signs that show an organisation has a benefits realisation problem and will provide the 7 steps to success and how you can address this issue by designing a framework, and adopting an approach, that focuses on benefits from the earliest stage of project planning through all phases of execution.