Benefits Realisation Plan

Benefits Realisation Plan

Benefit summary

Project Name
Programme Name
SRO/ Project Executive
Agencies
Benefits Plan / a brief summary of this plan, providing a high level overview of the strategy, and how the benefits will achieve the strategy
Benefit Owner / If this is a unique person enter their name or reference the benefit profiles in the appendix which include individual profile owners. This is especially relevant for inter-agency projects /

Executive summary

Describe the initiative, an overview of the strategy and how this plan will realise benefits to deliver on the strategy. Also describe how the benefits fit within the overall initiative, Include how the benefits have been weighted and any disbenefits.

Benefits schedule

Paste the Baseline, Approved Variations and Actuals tables. Initially you will only need the baseline image. Pasting as a picture will retain the formatting you used in the Excel workbook.

Add additional schedule information for benefits realisation, including planned reviews. Include high level costs for effort and resources required to achieve the benefits.

Measurement methods and processes

Outline the measurement methods and processes that will be used to monitor and assess the benefits realisation. This should include how the source information is gathered, what steps are taken to ensure its quality, including verification, any data cleansing and analysis.

Describe how the benefits have been derived from cost benefit analysis that was used in the business case. Benefits may simply be counts of something that can be mapped to assumptions used to create the financial values used in the business case.

Tools and information sources

Identify what systems, tools and sources of data are planned to be used in benefits measurement. Include any infrastructure changes that are required, including timelines for the changes.

Review and assessment

Describe:

• how the review will be conducted, which roles validate and check the data quality and achievability.
• what will trigger a review such as achieving a particular milestone or tranche reviews within a programme.

Consider what may trigger an extraordinary review; this should be linked to benefits risks.

Functions, roles, and responsibilities

Function / role, name, position and contact details /
SRO/ Project Executive / name, position, phone
Accountable for ensuring the delivery of the initiative. Approves changes within approved delegation.
Benefits Owner (may be the SRO) / name, position, phone
Accountable executive signs off tangible financial benefits and is a member of name of investment governance body.
name of investment governance body / Approves Benefits Realisation Plan, sets tolerances and approves any variations. Approves delegations.
Programme / Project Manager / name, position, phone
Responsible to ensure benefits realisation in the approved plan during the life of the programme or project. Responsible to ensure the plan for ongoing benefits realisation is agreed and handed over to the Benefits Owner.
Benefits SME / name, position, phone
Provides expert advice to aid delivery of benefits. Scrutinises benefit profiles and provides overall sense check of benefits realisation plan.
add other roles according to agency governance / name, position, phone and description

Critical success factors (CSFs) for benefits realisation

highlight what needs to be in place for benefit realisation to be successful. Identify how gaps will be identified and changes made

Assumptions and constraints

state any relevant assumptions or anticipated constraints related to the management of outputs and responsibilities for benefit realisation – eg resource availability, environment, technology, security etc.

Benefits realisation activities

describe specific benefit realisation activities including; modifying benefits realisation plan, profile changes, adding new benefits, reporting responsibilities

Handover

explain any changes of who will be taking on accountability and embedding into BAU

Risks

summarise any main points about risks from the profiles in Appendix 2

Issues

summarise any main points about issues from the profiles in Appendix 2

Dependencies

summarise any main points about dependencies from the profiles in Appendix 2

Initiative Benefits Realisation Plan

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Approvals

Created by

Role / Signature / Date
name
title
group, department
agency

Authorised by:

Role / Signature / Date
benefits owner name
title
group, department
agency
I confirm I accept accountability to ensure the benefit management of benefits in profiles 1,2,3,4,5and realise their value / duplicate this row if more than one benefit owner (e.g. where benefits are owned by different agencies)
SRO / project executive
title
group, department
agency
chair of investment governance body
title
group, department
agency

Initiative Benefits Realisation Plan

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Appendix 1 – Benefits map

Initiative Benefits Realisation Plan

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Appendix 2 – Benefits profiles

paste a copy of each benefit profile here.

Initiative Benefits Realisation Plan

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