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Explain Benefits And Describe Benefits Realisation Process

Paul Naybour Paul Naybour

Published: 19th February 2012

FAO Paul Naybour

Hi Paul,

Can you offer some feedback on the below please?

Benefits are quantifiable and will deliver a measurable improvement resulting from completion of project deliverables that is perceived in a positive way by a stakeholder. Benefits usually have a tangible value; and these are often expressed in monetary terms to justify the investment.


A benefits realisation process typically has three steps:


1.       Identify and Agree: During this first step, a list of benefits will be created, recording when it will be realised, its value, who will witness it and a plan of what needs to happen for it to be realised

2.       Monitor and Manage: During this step, a strategy document should be created, to guide the process for benefit realisation. This should include reviewing benefits during project reviews and any prediction of changes that may impact benefit realisation.

3.       Realise: At this third and final step, the transition to business as usual takes place. Benefit realisation reviews should be carried out to confirm the benefit delivery and realisation.