A program manager for a multi-year digital transformation initiative reviews the benefits realization plan and notices a significant downward trend in the forecast for user adoption, a key performance indicator. This decline is attributed to a competitor unexpectedly launching a similar, highly-praised product. The program steering committee is concerned about the return on investment and is pressuring for immediate action to show positive momentum. Several program components are on schedule, while others directly related to user interface and marketing are lagging. What is the most effective action for the program manager to take to preserve the program's strategic value?
Instruct the project managers of the lagging components to immediately create and execute a recovery plan to get back on the original schedule.
Conduct 'what-if' scenario modeling to evaluate the benefits impact of various responses and present a re-baselined benefits realization plan to the steering committee.
Reallocate all available contingency resources to the successful program components to maximize and accelerate their delivery, demonstrating immediate positive results to stakeholders.
Recommend that the steering committee approve the immediate de-scoping of the components most affected by the competitor's product to protect the program's budget.
The most effective action is to conduct 'what-if' scenario modeling to analyze the full impact of the new market dynamics and develop data-driven options. This allows the program manager to provide the steering committee with a strategic recommendation based on a clear understanding of how different corrective actions (like re-scoping, re-prioritizing, or expediting certain components) will affect the program's long-term benefits. Simply accelerating lagging components or reallocating resources without this strategic analysis might address symptoms but not the root cause, and prematurely de-scoping could unnecessarily sacrifice long-term value.
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PgMP
Benefits Management
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