Guide to Benefits Review in Benefits Realization Management

Benefits Review is a critical element within the benefits realization management framework. It offers a detailed assessment of whether the anticipated benefits have been delivered and achieved from a particular project or program.

Importance: Benefits Review is important as it ensures there is a consistent focus on delivering the intended benefits as articulated in the business case. It helps in determining any course adjustments if benefits are not being fully realised. It provides stakeholders with assurance and builds stakeholder confidence.

How it Works: A Benefits Review involves defining measures, capturing data, analysing data and reporting on the outcome of benefits. The Benefits Review schedule is often informed by the benefits profile in the Benefits Realization Plan. A typical Benefits Review process will involve collecting data, comparing against forecasts and plans, summarising results and making recommendations.

Exam Tips: Answering Questions on Benefits Review:
1. Understand the Core Elements - Be clear about the process, importance and workings of Benefits Review.
2. Apply Theory to Practice - Use case studies or practical examples to showcase your understanding.
3. Make it Quantitative - Benefits Reviews are data-driven. Make sure you are comfortable with interpreting data and relating it to the broader business context.
4. Highlight the Role of Stakeholders - Since Benefits Review is essentially to assure stakeholders, do not forget their role.