From the course: Managing Project Benefits
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How to be transparent and forward-looking
From the course: Managing Project Benefits
How to be transparent and forward-looking
- I've often heard of situations where forecasts are wildly inaccurate or inflated or not based on evidence and, therefore, are completely unachievable. Part of the reason is that sometimes forecasters simply needed to gain funding for the project, and there's no intention to measure their achievement after the project. As a result, very little importance is placed on the accuracy and transparency of these forecasts. So let's now take a look at how the organization can support transparency of information and adopt a forward-looking approach. Transparency is based on open and honest forecasting and reporting with very clear visibility of the link from the strategic objectives to the benefits for each individual project. To achieve this, benefit owners are expected to provide evidence-based forecasts with accurate benefits tracking and reporting throughout the project. In addition, all projects should be able to clearly demonstrate how their outputs will contribute to specific strategic…
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