The value in an approach of managing benefits is the mutual realization of the value a project has made in an organization" How could a consultant set up monitoring and measurement system that illustrates the realization value for client's organization? How could they use the Benefits realization approach as a part of their marketing strategy?
Answer:
Fingham (1999,pg 349 ) has explained consulting business as an amalgamation of management (client) needs together with consultant identities, in essence how both sets of interests and identities feed off each other. But, irrespective of the concept of matching identities, it is important to understand that a client while selecting a consultant would prefer experienced consultant with demonstrated outcomes of projects undertaken by him.
Here, Sedera et al(2001) have demonstrated that uncertainty of benefits (Enterprise Systems implementations) in projects directed the need for monitoring and measuring project's performance. However this concept could be generalised to other non IT related sectors as well, as a client organization may perhaps prefer a consultant who has documented results of his previous projects and are clearly understandable.
Now a question arises, how a consultant can (specifically an external consultant) demonstrate his realization value for a client organization. Studies by Barua et al., 1996; Martinsons, 1991; Mukhopadhyay et al., 1997; Sharba et al., 1988, as cited in Sedera et al(2001) demonstrate some traditional methods of measuring performance which are mentioned below:
Return On Investment [ROI]
Economic Value-Added [EVA]
Net Present Value [NPV]
&nb ...