A benefit is the measurable improvement resulting from an outcome perceived as an advantage by one or more stakeholders.
Benefits Realisation is the process of identifying executing and measuring benefits. The benefits realisation process enables the project to be defined and implemented which is in turn leads to the delivery of outputs. Benefits Realisation is mandatory for all Standard and Complex projects. Small projects should also identify benefits however the process need not be as rigorous as identified here.
- Benefits Realisation Lifecycle Overview
- Benefits Realisation Management spans the entire project lifecycle. UTAS will manage benefits using 4 phases:
Review and monitoring of benefits across the four phases brings together the key principles, governance themes and interrelated processes to facilitate successful business prioritisation and gain measureable benefits from business change.
These resources offer understanding to those involved with projects of the importance of benefits management and the relationship between the disciplines. Benefits management framework states the What, When, Where and Who for end to end benefits realisation management. It assists Stakeholders to manage benefits and contributes to benefits capability development.