For those who have any involvement or interest in benefits and their realization. 

For many organizations ‘benefits’ means ‘financial benefits’ only. This leads to the loss of significant value (including financial value). Benefits are often misunderstood. For example, financial benefits are treated as ‘immutable’ when they can legitimately change through external factors. 

This Guide enables you to 

• generate a common understanding of what benefits are
• standardize how benefits are stated so that they are consistent and measurable 
• understand that true ‘value’ is more than just financials or even just benefit statements
• appreciate that simplistic KPI measurement rarely works well
• understand the characteristics of an effective benefits realization process
• realign your business case to focus on its ‘value proposition’ (and not just on its costs)

If you do projects to get the benefits it makes sense to understand the true nature of benefits and how they are delivered. But, to do this, you need dispel the common myths and misunderstandings, and set a new standard. This Guide provides the standard.

Understanding Benefits

1. Understanding why benefits are important
2. Understanding what a ‘benefit’ is
3. Understanding how benefits are delivered
4. Understanding how to state a benefit
5. Understanding (and avoiding) the gap
6. Understanding why most business cases miss >25% of the benefits
7. Understanding how to avoid benefits duplication
8. Understanding how a benefit’s value can change
9. Understanding the cost of mis-managed benefits
10. Understanding tangible versus intangible benefits
11. Understanding the different natures of benefits
12. Understanding benefits timing
13. Understanding benefits accountabilities
14. Understanding benefits and KPIs

• Project team - to understand what benefits are all about
• Governance team - to understand the dynamics of benefits
• PPMOs - so as to manage their portfolio’s benefits
• Project Investment Committee/Boards - to understand the opportunities and issues
• Audit - to understand the characteristics of benefits and their realization
• CFOs - to ensure their benefits management program will work effectively
• Vendors/consultants - who want to justify their sales proposal’s benefits

• Dispels the myths and misunderstandings so that you have a realistic and sound basis for managing benefits
• Explains why so many benefits ‘go missing’ and how you can avoid these traps
• Defines what ‘tangible’ really means and what that means to benefits management
• Explains how benefits are delivered so that you can track the right measures to ensure you get all of the available benefits
• Takes you through The Value Equation™ - a simple but powerful approach to understanding benefits and value that you can build your project and business case around
• Explains why many current benefits management approaches destroy benefits
• Defines the relationship between KPIs and benefits
• Clarifies the nature of benefits - too often not understood
• Ensures everyone at all levels of the organization have a common understanding
• Provides the background and knowledge for an effective benefits realization program and business case program

The Value Equation™