Project Benefits Management Plan
· β 2 min read · π€ Naresh Mehta
According to PMBOK, “The project beneο¬ts management plan is the document that describes how and when the beneο¬ts of the project will be delivered, and describes the mechanisms that should be in place to measure those beneο¬ts. A project beneο¬t is deο¬ned as an outcome of actions, behaviors, products, services, or results that provide value to the sponsoring organization as well as to the projectβs intended beneο¬ciaries”[1].
This document is a living document and according to me, its life-cycle starts way before any business plan is laid out. Information exists for this but maybe not in a centralized place. Many factors such as business execution environment changes (evolution, devolution or revolution) and/or strategy, management and economy changes are the ones which trigger activities that generate a probably viable business sustenance/execution plan.