What is Benefits Realisation Management?
Benefits Realisation Management is a process of identifying, planning, managing and evaluating the intended benefits of an investment, with the aim of ensuring those benefits are achieved.
What is the purpose of the Framework?
The purpose of the Benefits Realisation Management Framework is to provide:
- best practice principles, processes and techniques building upon proven practice across NSW Government
- a structured approach to communicating the need for investment, identifying benefits and organisation responsibilities
- consistent terminology and benefits categories
- guidance for program sponsors and benefit owners.
Who is it for?
The Benefits Realisation Management Framework is for:
- anyone interested in how to identify and value benefits when allocating public funds including change managers, project managers and business analysts
- those interested in implementing benefits management practice including program sponsors, directors, managers and program management office (PMO) staff across NSW Government.
What's in it for me?
The Benefits Realisation Management Framework can help to:
- develop a business case
- identify benefits
- collaborate with stakeholders
- improve the chances of successful business change
- assess and mitigate the risks arising from poor forecasting or program delivery issues
- inform program evaluations.
A number of templates have been developed to support the framework.