The term ‘Benefits management’ is used mostly in the context of large programs where a program is intended to deliver certain benefits and the delivery of those benefits must be closely monitored and managed. Benefits management is also one of the key domain areas of PMI’s PgMP standard of Program Management. This usually involves identifying the specific benefits of the program and agreeing with the sponsors and key stakeholders on those benefits followed by identifying quantifiable measures to enable tracking and monitoring the delivery of those benefits.
Benefits management has to do with the management efforts related to the delivery of a program’s stated benefits. This includes the usage of tools and processes to manage the resources and activities that have to do with the delivery of those benefits. Benefits include but are not limited to reduction of costs, increase in revenue, increase in efficiencies, reaping of certain ROI, etc.
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