Redefining Project Success: Benefit Realization in Project Management
According to PMI’s Pulse of the Profession report, organizations spend millions of dollars on projects that never meet expectations to deliver intended benefits to the business. Projects are often times considered a success when they are completed on time, on budget, and within scope.
Project success has been researched at length with articles published in the International Journal of Project Management and the Project Management Journal. However, the research has not yielded a consistent definition of project success. Furthermore, research has found that between 60% and 80% of all organizations surveyed failed to execute on their strategies. Thus, it is crucial to define clear criteria by which to evaluate the success of a project.
There are two approaches to define project success. The traditional approach defines project success through the triple constraint of budget, timeline, and requirements or scope. Even though projects have been evaluated this way by organizations for years, the triple constraint approach does not take into consideration organizational strategic objectives or outcomes-based metrics.
The second, more modern approach looks at project success by evaluating how well projects deliver the benefits towards achieving business strategies. While the traditional key performance indicators of projects are financial or schedule based, current research suggests an alternative that emphasizes projects creating value for the organization. Thus, the project success would be evaluated based on the overall value delivered to stakeholders by measuring the benefits and outcomes which are aligned with organizational strategies.
Being a lifelong learner, Cornelia’s passion is reflected when sharing her knowledge and insights with any individual she encounters. Cornelia completed her Accounting undergraduate degree at Bellevue University and her Master’s in Business Administration at Creighton University. She decided to continue her academic path by pursuing a Doctorate in Leadership with the goal to advance the interdisciplinary nature of leadership in organizations.
Currently, Cornelia serves as the Chief Operations Officer at Kugler Vision. In this key role, Cornelia provides the leadership, management and vision necessary to ensure that proper operational controls, administrative, and human capital in place to effectively grow the organization while focusing on financial strength and operational efficiency. Prior to this role, Cornelia served as the Manager of Projects and Initiatives at Nebraska Medicine. She led the project and capital planning function by organizing and prioritizing capital and strategic initiatives as well as providing project management oversight of initiatives in support of the mission, vision, and values of the organization.
In addition to her professional and academic career, Cornelia is involved in the community. Cornelia currently serves as a board member for Heart Ministry Center and Sarpy County Museum. She also participated in Leadership Omaha Class 40 and served as a Young Professional Council member through Greater Omaha Chamber of Commerce.
With over a dozen years of experience in healthcare-specific client account and project management, strategic program management, and process development, Kara currently serves as a Project Manager in the office of Projects and Initiatives at Nebraska Medicine. In this capacity, Kara works closely with internal stakeholders to gather initial planning and discovery for major capital and operational projects across the health system. Additionally, Kara works with her project manager and leader counterparts to track and report on outcomes-based benefit realization for various strategic projects across the enterprise.
Kara holds a Master's Degree in Healthcare Administration, and is a member of the Healthcare Information and Management Systems Society (HIMSS), the Nebraska chapter of the Healthcare Financial Management Association (HFMA), the American College of Healthcare Executives (ACHE), and the Society for Healthcare Strategy and Market Development (SHSMD).
ANNOUNCEMENT: Online registration for monthly luncheon events will remain open and not close so you can now register day of the event and at the event. The registration price increases to $25 after 5:00 pm CT on the day before the luncheon event.
11:00 – 11:30 am: Registration, Networking & Lunch
11:30 – 11:40 am: Announcements & Recognition
11:40 – 12:40 pm: Presentation
PDU Claim Submission: Chapter will submit PDUs
PDUs: 1 PDU
Costs: $20.00 if pre-register prior to event day (members and non-members). $25.00 day of event for all walk-ins (members and non-members).
Pre-registration pricing Expires: 8/13/19 5:00 PM
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Scott Conference Center (6450 Pine Street, Omaha, NE 68106)
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|Event End Date||08-14-2019|
|Registration Start Date||07-17-2019|
|Cut off date||08-14-2019|
|Location||Scott Conference Center (UNO)|