Benefits Management is an approach used in programmes and projects to identify and focus on positive outcomes and their associated benefits. It provides a structured framework to help ensure that objectives are met and measurable benefits are, in fact, realised.
The approach is applied to individual projects and programmes to help to ensure that:
- Outcomes, both positive and negative, are clearly identified, understood and accepted by all those concerned
- Objective information is provided for senior managers to make investment decisions aligned with overall strategy
- A plan is created and implemented to achieve and measure the identified benefits
- Accountability for successful realisation of benefits is allocated to individuals
- Progress towards delivery of benefits is continually monitored. Risks and issues are anticipated and managed
- Change programmes or projects which are no longer likely to deliver true benefits are identified and halted
- There is pro-active and continuous communication with, and ‘buy in’ from, all stakeholders
- Lasting benefit is delivered by integrating positive change in the organisation
