Benefits management should:
- define benefits and dis-benefits of the proposed work;
- establish measurement mechanisms;
- implement any change needed in order to realise benefits;
- measure improvement and compare to the business case.
| Indicators | Level 2 attributes |
As is the case with all references to benefits, dis-benefits are deemed to be covered as well. The complexity of the benefits management function is a defining factor in deciding whether a piece of work is a project or a programme. On projects where there is a simple relationship between a small number of outputs and a benefit, level 2 will be perfectly adequate. At level 2, identification of new benefits during the life cycle may not be comprehensive. Where there is a many-to-many relationship between multiple outputs and benefits the work will most likely be run as a programme and level 3 capability will be more appropriate. |
| Quantify | Benefits are quantified and documented. There is evidence supporting the estimates of benefit quantities. | |
| Value | Financial benefits are valued and documentation shows the reasoning behind the valuations. | |
| Plan benefits realisation | Plans for realising benefits exist and are updated throughout the life cycle. | |
| Realise benefits | There is some measurement of pre-change metrics but this may be inconsistent. Benefits reviews may be left to individual business-as-usual units. | |
| Indicators | Level 3 attributes | |
| Quantify | Full benefit profiles are prepared for benefits. These are reviewed throughout the life cycle. New benefits profiles are produced throughout the life cycle as new benefits are identified. There is a clear link between updated benefit profiles and the business case. | |
| Value | Sophisticated techniques are used to value non-financial benefits and documentation shows the reasoning behind the valuations. | |
| Plan benefits realisation | All benefits realisation activities are included in a separate benefits realisation plan or as a section of the main project or programme delivery plan. These plans are regularly updated and interfaces maintained. | |
| Realise benefits | Metrics affected by change are baselined before change is applied and tracked throughout the realisation period. A full benefits review is conducted on completion and actual net benefit is compared to the original business case. | |
