In the entries posted last week, we were talking about benefits and value in general and Benefits Realization Management (BRM) in particular. Today I would like to talk a bit more about the context of BRM in the PMI, because one of the reasons why some terms become popular is because the PMI invests time and resources in developing a new area of knowledge.
In this case, Benefits Realization Management or Benefits Management is one of the new ares included in the PMP Exam from January 2016. Prior to that, extensive research was conducted for 2 years, since this is a relatively new discipline not very well understood in many organizations. The idea was to find a correlation between benefits realization maturity on an organization and the success of projects and programs.
They have also published three Pulse of the Profession reports covering BRM in depth. Besides, they have created some videos like the one shown here to rise the interest in this area.
So, you see, BRM is relatively new, yet it has a great potential. Let's dig more into the framework in following posts!
Information taken from What us Benefits Realization Management (BRM)?
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