Programs and projects are brought into the world to deliver one or several benefits. However, these benefits are unfortunately not always realized. At Peak we work determinedly with benefits realization by identifying, measuring and acting on them before, during and after a given project or program.
One benefit is the positive effect of the changes, the project or program gives rise to. Benefits realization is the discipline that ensures this happens. If you are to succeed in attaining the benefits you want from a program or project, it is essential that the benefits are real: stakeholders must want them, and it has to be lifeblood, so it actually matters if you achieve the desired effects or not. Meaning, there are not supposed be imaginary benefits, unrealistically inflating a business case. With benefits realization as an approach to planning and evaluation of your project or program, you steer clear of both the unrealistic- and the unrealized benefits.
Why is benefits realization important?
A project and especially a program, that keeps within time- and budget constraints, but does not realize that expected benefits, is a failed effort. And there are many of these in both private and public organizations. On the other hand, with professional and dedicated benefits realization, you can:
- Ensure that the desired effects, results and benefits are realized
- Increase the welfare of your employees
- Improve the quality of offers and services
- Increase customer satisfaction
- Meet a legal requirement