Tunnel vision: going deeper
In part 1 of this 3 part blog, I introduced the challenge of realising benefits on large, very long-term programmes. In such cases, disruptive factors beyond the scope of the programme may often mean that, despite delivering outputs, changes in the environment prevent intended benefits from materialising. I also challenged how well organisations and P3M professionals are equipped to identify and manage such risks.
In this three part blog, I argue that risks to benefits realisation from outside the direct scope of the programme have particular importance for many large, long-term initiatives, and yet may be under prioritised. The Channel Tunnel, which opened in 1994, failed to ever get close to averaging 20 million travellers a year as it had projected. Even before the first train had passed through the tunnel, EU aviation regulations had been revised to allow easier access to European airspace, triggering a boom in low-cost airlines and drawing customers away in droves.