2. Benefits Tracking Introduction
The Benefits Realisation module is designed to capture, manage and track benefits delivered by projects. Benefits can be financial (impacting the customer’s bottom line performance) or non-financial (all other categorized benefits).
- Strategic outcomes - quantitative and financial benefits
- Project revenue and payment milestones
- Tracking sources of project funding and allocations
- People and Culture
Benefits are identified and endorsed in the planning phase, realised through project delivery and subsequent phases, validated through pre-defined metrics for measuring the benefits, and regularly reported on. This framework builds more consistency, transparency and accountability at projects, portfolio and enterprise levels.
3. Benefits Realisation Across the Entire Project Life Cycle
Benefits realisation is one of the key differentiators, being fully integrated across the entire project lifecycle:
- Benefits can be financial or non-financials, can be quantified or qualitative.
- Example are: cost reduction program of work, initiatives to improve customer perceptions such as customer response time, reduced number of complaints.
- Advanced benefits realization management: Time-phased, version-based benefit tracking.
Highest maturity organizations not only complete 80 percent of projects on time and on budget, but also meet original goals and business intent.
4. Benefits Tracking – Customer Implementation