This management activity belongs to the post-project management activity group: a 3- to 6-month cycle of activities that start after the project ends and continues for 1 to 5 years. This activity group may be merged with that of other finished projects in a central portfolio management system.

The same person who was the sponsor for the project is responsible for this cycle, unless this responsibility is transferred to someone else.

After evaluating the benefits (G01), the sponsor should check to see whether there are any ways of increasing them. The result may be small activities assigned to the operational teams, or major changes that can become new projects in the future.

Purpose

The main work for the project is done, and you deserve to benefit from it. However, some potential benefits are not realized automatically unless you take extra ad hoc actions after the project closure, and we don’t want to miss this opportunity.

On the other hand, evaluating the benefits of previous projects is a great source of ideas for future projects, and it’s best done in a structured way.

Common pitfalls

Consider the following to avoid some of the commonest problems in this area:

Avoid unactionable statements, and focus instead on designing real solutions that can be implemented and evaluated.
You don’t have to do this management activity by yourself – invite other people to join you, and decide together.
Don’t limit yourself to evaluating the benefits of each project separately and in isolation – sometimes it works best if you (and other people responsible for other projects) get together and evaluate the benefits of multiple projects together. Just be careful that the benefits of each project you’re responsible for are evaluated in one way or another.

Principles

The following principles play a significant role in this management activity: