Examples include, ‘create new IT system’, ‘buy and run a car’ or ‘sell goods and services’.
Each Initiative represents the investment and action needed to create value that contributes to the realisation of the expected Benefits. They are sometimes called programmes, projects or interventions.
What you want to measure may be tracked at various levels and you may have many measure targets EG Cost saving?
- At the portfolio level e.g. Headquarters/central cost saving
- Extra savings from a couple of programmes
- More savings from workstreams
- More savings from specific capabilities
…each cost saving measure has different forecasts/ actuals (timeseries data)
…all have the same definition of what a ‘Cost Saving’ measure is
Measures may have the same definition but collect different data.
Same definition = Standard Measure
Different data = Tracking Measure
In Wovex Products Initiative is a collective term for a work package that can be used to summarise effort towards Benefits and in the Mapping Powertool is used to specify Options.