Benefits of the Approach

Adopting this approach to benefit realisation has the following potential benefits to stakeholders:

• The business has greater visibility and control over the business impact of the project.
• Benefit expectations are made more explicit.  Less reliance on hope.
• Lessens the squandering of resources.
• Project staff have a clearer idea of what success looks like.
• Tying work packages to benefit delivery minimises the level of financial risk.  If benefits can’t be delivered for part of a project budget, why risk the whole budget?
• Less reliance on reviewing project documentation to ensure projects are on track; the results show effectiveness.
• Innovation is stimulated.  New ideas should not be technically constrained to the chosen solution but be evaluated for the impact on the desired benefits.
• Business cases based on benefits are easier to construct and get approval for than those focussed on technical solutions.
• Teams work to provide an integrated, benefits focussed effect, e.g. across training, processes and technology.

If you recognise that this approach is appropriate for your organisation, please contact us to discuss it further.