What is Benefits Realisation Management?
Benefits Realisation Management (BRM) is a process of identifying, planning, managing and evaluating the intended benefits of an investment.
BRM informs investment decisions and establishes plans to realise intended benefits. Best practice principles, processes and techniques help stakeholders to clearly articulate:
- why an investment is needed?
- what are the strategic outcomes of a program?
- what are the measurable benefits?
- when will the benefits be realised?
- who owns the benefits?
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.
Related policy documents
NSW Department of Premier and Cabinet
NSW Department of Finance, Services and Innovation
A number of templates have been developed to support the framework.