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 Benefits  Benefits   Project Management Benefit Metrics   Project Management Benefit Metrics

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Specifically for this reason, the Toolkit has its own Benefits Management process which has two elements: Specification of Benefits and Benefits Mining.

Specification of Benefits stipulates and quantifies the benefits at the outset of the project. This simple feature is on offer in other agile methodologies but in the Toolkit we also provide a regular mechanism to revisit these benefits to make sure they are achievable, that the values of those benefits are accurate, that any new benefits or opportunities are recorded and communicated and finally that a process is established to ensure the benefits are chased, captured and fed back to the organisation.

This final process is called Benefits Mining.

We should bear in mind that not all projects are revenue earning or seek to be revenue positive at the end of their delivery. Some projects are delivered for legislative or mandatory reasons, for operational, risk reduction, disaster recovery or other purposes.

However, if a project targets a revenue positive outcome where a financial payback covers the project costs and provides specific benefits then these returned contributions are an important reimbursement to the organisations finances and its project fund.

Viewed in this way, they may comprise some or all of the funds the next project in line will be seeking to attract with its own distinctive collection of alluring benefits. This model of the project funding cycle is often lost in a turbulent deep sea of expenditure spreadsheets, cost centres, profit centres, business divisions, and organisational units, project funding releases, virements or internal transfers, charging models and so on and so on.

For this reason and for a clear organisational perspective on project performance it is important to collect and record financial movement in and out of all projects but also to ensure and demonstrate that the important cycle of project funding is suitably replenished by each planned project.


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Manage the Benefits


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