Business benefits

The functions of benefits management are as follows:

  • To identify and quantify all benefits (and 'dis-benefits') from the project.

  • To link them to the corporate strategy.

  • To ensure that all benefits have stakeholder buy-in.

  • To manage benefit realization proactively.

  • To monitor and control the planned benefits throughout the project.

  • To allocate ownership to benefits.

  • To link planned benefits to project deliverables.

  • To integrate the benefits into the project plan.

  • To enable the benefits to move from the project sphere to business-as-usual.

Implementation

Without benefits management an organization will never achieve all the available value from a project. Benefits management permeates every aspect of project management. It is critical at both the initial startup and closedown of a project. The benefits identification process at the beginning of the project enables greater clarity of thought into whether the project is required.

Without considering the benefits that a project would deliver in addition to the deliverables, the organization has no way of knowing whether its resources will be well spent. Likewise, at the end of a project, care must be taken to embed realized benefits and transfer those yet to be realized to the ownership of operations. Too often projects are shut down on delivery of the final deliverables without thought being given to the continued realization of potential or agreed benefits, and it is often the case that the intended benefits are lost.

Top of Page



Definitive Guide to Project Management. The Fast Track to Getting the Job Done on Time and on Budget
The Definitive Guide to Project Management: The fast track to getting the job done on time and on budget (2nd Edition)
ISBN: 0273710974
EAN: 2147483647
Year: 2007
Pages: 217
Authors: Sebastian Nokes
BUY ON AMAZON

Similar book on Amazon
Measurement Made Accessible: A Research Approach Using Qualitative, Quantitative and Quality Improvement Methods
Measurement Made Accessible: A Research Approach Using Qualitative, Quantitative and Quality Improvement Methods
The Conflict Resolution Toolbox: Models and Maps for Analyzing, Diagnosing, and Resolving Conflict
The Conflict Resolution Toolbox: Models and Maps for Analyzing, Diagnosing, and Resolving Conflict
Financial Intelligence: A Manager's Guide to Knowing What the Numbers Really Mean
Financial Intelligence: A Manager's Guide to Knowing What the Numbers Really Mean
Management Skills: A Jossey-Bass Reader (The Jossey-Bass Business and Management Reader Series)
Management Skills: A Jossey-Bass Reader (The Jossey-Bass Business and Management Reader Series)

flylib.com © 2008-2017.
If you may any questions please contact us: flylib@qtcs.net