Benefits management shows the long-term sustained effect and success of a business change. This is done by measuring the impact resulting from the change.
Benefits management shows the long-term sustained effect and success of a business change. This is done by measuring the impact resulting from the change.
The identification of benefits being sought commences before or in conjunction of developing a Project Business Case, and the work to realise benefits typically continues well after the project closure.
To support this, a Benefits Management framework provides guidance, roles and templates for ACU to define, measure and confirm that the desired impact is created and sustained.
The Executive Sponsor of a project is accountable for defining and realising the benefits. The role of Benefits Owner (one or many) is responsible for planning and achieving the benefits as defined. These two roles can be combined but in complex projects, it often is advisable to have a nominated Benefit Owner.
The success of benefits realisation relies on the success of business change, i.e. guiding and supporting the staff and students in fully utilising the new processes, systems and data. Those who will enjoy the benefits (e.g. students having a better experience or staff having a streamlined process) are benefits recipients.
Benefits can be expressed either in financial or non-financial terms and the applicable benefits classes are shown in the image below.
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