What is Benefits Management?
Benefits Management is the identification, quantification, analysis, planning, tracking, realisation, and optimisation of benefits. It is an important change and investment discipline that, when applied effectively, increases confidence in realising intended benefits and demonstrating the success of investments.
The objective of this capability is to provide Government with a better understanding of how Digital and ICT-enabled investments are performing and confidence that projects remain on track and contribute to strategic goals by:
- Embedding standardisation and consistency of benefits management practices across the Digital and ICT portfolio (the portfolio) through processes, tools, templates, and terminology.
- Defining a standard classification structure that demonstrates contribution towards strategic objectives and drives alignment between investment benefits and broader strategies and policies.
- Providing clear guidance (e.g. tools, templates, and processes) and expectations for agencies, including expectations for benefits articulation and measurement in the prioritisation, contestability, and assurance states of the Investment Oversight Framework.
- Enabling the DTA to provide Government with a complete picture of expected and realised benefits across the portfolio, enabling more informed investment decisions, including to help address whole-of-government capability gaps.
Benefits are aligned to strategic objectives.
Benefits are integrated into performance management.
Benefits are integrated into a project's governance approach.
Benefits are measurable, and evidence based.
Benefits are owned by business units, and not by the project.
Benefit dependencies are explicitly understood and recorded.
Agencies that deliver projects adopt a benefits-led culture and approach to change.
Benefits management activities are integrated into project management activities.