Benefit Realisation and digital solutions
There are plenty of projects and programmes, but they often lag in realising their expected benefits.
A benefit is a positive experience one or more stakeholders have of the project’s changes. For example, it can be the organisation’s management and owners, users and customers or employees.
Examples of benefits/gains in an organisation:
Cost reduction that can be used for many different purposes:
Save money, improve competitiveness, make more money, or invest in other areas
Increasing the employee well-being
Increase the employee well-being because an IT solution reduces double entries or increases an overview of a customer’s situation. Both must be demanded improvements.
Improved quality of services
Improved quality of services if, for example, the products are delivered with a greater precision and fewer errors, or that the availability of a service is extended
Meet a legal requirement
Meets a legal requirement, e.g., that the company manages holidays according to a new holiday law.
What is Benefit Management?
Benefits realisation is a discipline that identifies, measures, and trades on expected benefits before, during, and after a given project.
What matters is that the improvements are real. There must be important stakeholders who demand them and do enough to justify the project. Also, the project must be able to deliver the identified benefits. So, it should not be fantasy benefits that pump up a business case unrealistically.
By using Benefit management as an approach to both planning and evaluation of a given project, much greater value can thus be achieved from the project.
A benefits realisation method
The chart below suggests a winding path from project to gain.
But do not be fooled – there are many pitfalls in the work of profit realisation. A good pointer when assessing a project’s benefits realisation potential is to ask yourself the following:
Benefits realisation lags in Denmark
In our most recent benefits realisation survey, 6 out of 10 respondents said they realised less than 50% of their projects’ expected benefits.
Every 10th realised no benefits. So far, too many resources are being wasted in both the private and public sectors, even if the projects meet both time and budget. This may be because the wrong benefits are identified or objectives.
We start where you and your organisation are right now.
When Peak helps organisations realise the value of their projects, we do it by considering the organisations’ situation, experience, and maturity. That is why you will receive practical, usable, and pragmatic tools that will help you in real-time – that can also be developed further, as your maturity increases.
Regardless of whether you lack a common understanding or language regarding benefits realisation, want to build a new business initiative or whether you wish to improve your methods in general, we are more than happy to provide consulting on how you can get started.
Please contact us for more information
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Peak har i et samarbejde med Stenhus Gymnasium uddannet landets nok yngste certificerede projektledere til dato. Indsatsen skal bidrage til
CASE Acquisition of armoured patrol vehicles for the Danish soldiers The Danish Ministry of Defence Acquisition and Logistic Organisation is