Benefits Management Approach

Here you can find a simple Benefits Management Approach template in Microsoft Word/Excel format, along with explanation on how to use it.

Background

Let’s say you’re initiating a project to create a mobile app for your business, and you believe that it will increase your sales. The idea is that this benefit should be tracked after the project is finished, because:

  1. You can learn from it and use that knowledge in your future projects
  2. You may have to do small things to help those benefits realize

So, in the beginning of the project, when we are thinking about the benefits, we will document them in the Benefits Management Approach, and explain how we can measure them in the future. For example, you find a way to track what sales are generated because of the existence of that app, and then start calculating the profit that is caused by that app. In addition to that, the app may also help the existing customers, and by increasing their satisfaction, they will buy again. In that case, this can be another benefit of the app; but, how are you going to distinguish it from other sales? This is when you think about all of that and document it.

Composition

The template has 3 main sections:


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