Benefits Realisation and Management
Benefits management is a portfolio/program management process that starts before a program or project is formally approved.
By ensuring the series of OnQ 4 in1 templates are completed in concert with the business, they provide project managers with knowledge of the business benefits required from their projects. While project managers are not themselves responsible for delivering these benefits, they do deliver the outputs that enable benefits realisation to occur. However, project managers have control over features of these outputs that can have a significant effect on subsequent operations. Project managers should identify any such issues as they arise, and escalate them to the project customer by submitting costed variations for decision and funding approval. It is therefore important that project managers review and remain familiar with the project objectives and business success criteria.
The identification, tracking and realisation of benefits continues throughout the portfolio and program process. Post implementation reviews are another important part of the benefits realisation process, and are done some time after the project has gone into operation. This review needs to be organised by the customer, as the project manager will generally have moved on to another project.
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