Effective Strategies to Address Declining Benefits Realization in IT Investments

D.

The situation described in the question indicates that there is a gap between the expected and actual realization of benefits from IT investments over time. This suggests that there may be issues with how the investments are being managed and monitored. To address this situation, the best approach would be to institute regular business case updates and reviews (option D).

Instituting regular business case updates and reviews is a proactive measure that helps to identify any discrepancies in benefits realization and allows for timely corrective action. By reviewing the business case and comparing it to actual results, the organization can identify whether the investment is delivering the expected benefits and if not, why.

The other options provided (A, B, and C) are all useful practices in their own right, but they do not directly address the issue of declining benefits realization over time. Standardizing resource monitoring approaches (option A) helps to ensure that resources are being used effectively, but it does not necessarily address the issue of declining benefits. Institute project quality and performance metrics (option B) helps to track project progress and identify issues with quality, but it also does not directly address the issue of declining benefits realization. Establishing key risk indicators (KRIs) (option C) is important for identifying and managing risks, but it is not directly related to the issue of declining benefits realization.

In summary, regular business case updates and reviews are the best way to address the situation described in the question, as they provide a structured approach for identifying and addressing any discrepancies in benefits realization over time.