ABSTRACT
Benefits are measurable improvements resulting from change that contribute to the achievement of strategic objectives. Benefits management relates to the cycle of identification, quantification, planning and realization of the benefits. The core objective of program management is to achieve the benefits that are closely linked with strategic objectives. One of the major issues concerning effective benefits management is relatively long lead times between its facilitation and realization. Benefits management has a closer linkage to the program management lifecycle, as the very purpose of the programs is to achieve outcomes and benefits. Benefits ownership is another issue concerning management. The first major step is to identify the benefits. Some of the organizations conduct benefits identification workshops with representatives from Senior Management. Once the benefits have been identified, people need to put in place the metrics to measure them. Financial benefits are usually amenable to precise quantification.
