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Benefits Realisation: It's harder than you think!

We had our highest attendance yet at our monthly event in September where we heard from Melanie Strachan from Phase 2 Consulting about Benefits Realisation.

Benefits realisation is harder than most people think. The process of measuring and evaluating the actual outcomes and value derived from a project, is difficult and often done poorly. The four key reasons for this are:

  • Lack of clear objectives: If the objectives and goals are not well-defined, it's impossible to measure the actual benefits. Without clear objectives, it's challenging to determine what success looks like and how to measure it.

  • Ambiguity in benefit measurement: Benefits are often difficult to quantify which also makes it impossible to accurately assess them.

  • Lack of proper metrics / poor data collection: It's necessary to select appropriate and meaningful Key Performance Indicators. "Don't measure if it don't matter!"

  • Difficulty measuring baselines: If you don't have a baseline to measure against, how do you evidence improvements?

This workshop introduced some of the key concepts associated with successful benefits realisation - from identifying the right benefits to include in your business case to measuring benefits so you can prove that your project delivered.

Workshop topics included:

  • What is a benefit? More importantly, what is NOT a benefit?

  • Why benefits realisation is so difficult.

  • How to fully define a benefit.

  • Introduction to benefits realisation tools and techniques

  • Benefits management, change management and project management; they need to work together!

We also learned that, to achieve benefits you need to understand:

  • your objectives

  • your measures

  • your data

  • your baselines and

  • your stakeholders!

The workshop was so well-received that PMI are now planning to run a training course on Benefits Realisation early in 2024.


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