What is Benefits Management?
Benefits Management is the identification, quantification, analysis, planning, tracking, realisation, and optimisation of benefits.
Purpose
Benefits Management, when applied effectively, increases confidence in realising intended benefits and demonstrating the success of investments across the Australian Government digital and ICT portfolio.
The capability of Benefits Management is realised through:
- tracking of benefits throughout an investment's lifecycle
- alignment of digital and ICT-enabled investments to benefits
- continual review and improvement of investment to maximise benefits.
Objective
The objective of this Australian Government Architecture (AGA) content 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
- ensure consistent and standard benefits management practices across the Digital and ICT portfolio using 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
- provide clear guidance (e.g. tools, templates, and processes) and expectations for entities, including expectations for benefits articulation and measurement in the prioritisation, contestability, and assurance states of the Investment Oversight Framework
- allow the DTA to present the Government with a comprehensive overview of anticipated and actual benefits throughout the portfolio, facilitating more informed investment choices and addressing whole-of-government capability gaps.
Policy Elements
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Benefits are aligned to strategic objectives.
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Agencies that deliver projects adopt a benefits-led culture and approach to change.
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Benefit dependencies are explicitly understood and recorded.
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Benefits are measurable, and evidence based.
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Benefits are integrated into a project's governance approach.
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Benefits are integrated into performance management.
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Benefits are owned by business units, and not by the project.
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Benefits management activities are integrated into project management activities.