Benefits Realisation

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  • BRM Framework can help organizations effectively manage and realize project benefits. It provides a set of questions and good practices that project, program, and portfolio management professionals and leaders can use to help guide the identification, analysis, delivery, and sustainment of benefits that align to the organization’s strategic goals and objectives.
    • Identify Benefits to determine whether projects, programs, and portfolios can produce the intended business results.
    • Execute Benefits management to minimize risks to future benefits and maximize the opportunity to gain additional benefits.
    • Sustain Benefits to ensure that whatever the project or program produces continues to create value.


Terminiology

  • ACCEPTANCE CRITERIA: Set of conditions that are met before deliverables are accepted.
  • Benefits: Value that is created for the project sponsor or beneficiary as a result of the successful completion of a project.
  • Benefits Sustainment Plan: A tool to identify risks, processes, measures, metrics, and tools necessary to ensure the continued

realisation of the benefits.

timeline and the tools and resources necessary to ensure the benefits are fully realised over time. It defines:

Benefits and associated assumptions, and how each benefit will be achieved.
Metrics, including KPIs, and procedures to measure progress against benefits.
Roles and responsibilities required to manage benefits.
How the resulting benefits and capabilities will be transitioned into an operational state to achieve benefits.
How the resulting capabilities will be transitioned to the individuals, groups, or organizations responsible for
sustaining the benefits.
Processes for determining the extent to which each project or program benefit is achieved prior to formal closure.
  • BENEFITS REALIZATION MANAGEMENT: Collective set of processes and practices for identifying benefits and aligning them with

formal strategy, ensuring benefits are realized as project implementation progresses and finishes, and that the benefits are sustainable—and sustained—after project implementation is complete.

  • Benefits Register: Collection and list of the planned benefits used to measure and communicate the delivery of benefits

throughout the duration of the project or program.

business owner to then utilize for benefits realization.

  • BUSINESS CASE: Documented economic feasibility study used to establish validity of the benefits to be delivered.
  • DELIVERABLE: Any unique and verifiable product, result, or capability to perform a service that is produced to complete a process,

phase, or project.

  • OBJECTIVES: Results to be achieved after a project concludes, such as a successful IT conversion, development of a new product or

manufacturing process, or construction and staffing of a new facility