Part 1
A benefit is the desired result of a project that was created to meet a particular operational need. The whole point of benefits management is to make sure that your project provides clear benefits – as opposed to simply making sure the project is completed within specific time and resource limitations. In order to achieve the expectations, the project manager have to keep checking on the matters such as “Why does the organisation not know what benefits will be delivered and how to measure them?” “Have these costs been estimated?” “Has management approved the budget variance?” “What is the minimum set of measures necessary to demonstrate your project has achieved its benefits? How much to measure?”
“Where should we measure?” “How to Present the …show more content…
And commonly these benefits are recognised as second class factors to be considered, a lot of projects then get away with adding these into intangible bucket and not measuring it in the end.
Part 2
Business benefit can be defined as an outcome of an action or decision that contributes towards meeting one or more business objectives. (Bell 2013) Some kinds of benefits are easier to verify, measure and value than others. For most business people, positive financial outcomes are readily accepted as business benefits and easily measured. Such outcomes include cost savings, cash inflows, and increased profits.
There are generally 4 degrees to measure benefits (Kraft 2014):
Speed of adoption o How quickly employees buy in to the need for change and adjust themselves to the new solution Utilization o Affects the ultimate utilization of the change o How many employees withdrawn themselves from the solution
KXI321 Workshop3
Jingqi Zhang 188390
Proficiency o Impacts the proficiency of employees doing the new work o The cumulative improvement of each employee who will do their job differently as result of
the
A benefit is the desired result of a project that was created to meet a particular operational need. The whole point of benefits management is to make sure that your project provides clear benefits – as opposed to simply making sure the project is completed within specific time and resource limitations. In order to achieve the expectations, the project manager have to keep checking on the matters such as “Why does the organisation not know what benefits will be delivered and how to measure them?” “Have these costs been estimated?” “Has management approved the budget variance?” “What is the minimum set of measures necessary to demonstrate your project has achieved its benefits? How much to measure?”
“Where should we measure?” “How to Present the …show more content…
And commonly these benefits are recognised as second class factors to be considered, a lot of projects then get away with adding these into intangible bucket and not measuring it in the end.
Part 2
Business benefit can be defined as an outcome of an action or decision that contributes towards meeting one or more business objectives. (Bell 2013) Some kinds of benefits are easier to verify, measure and value than others. For most business people, positive financial outcomes are readily accepted as business benefits and easily measured. Such outcomes include cost savings, cash inflows, and increased profits.
There are generally 4 degrees to measure benefits (Kraft 2014):
Speed of adoption o How quickly employees buy in to the need for change and adjust themselves to the new solution Utilization o Affects the ultimate utilization of the change o How many employees withdrawn themselves from the solution
KXI321 Workshop3
Jingqi Zhang 188390
Proficiency o Impacts the proficiency of employees doing the new work o The cumulative improvement of each employee who will do their job differently as result of
the