Managing Benefits Effectively

Individual project managers can define the benefits that the project seeks to achieve if it is to be deemed a success and the Red/Amber/Green thresholds signifying the degree of success. They can also define and maintain monthly Targets, Forecasts and Actuals for those benefits so that success can be planned, tracked and reported. Benefits can be flagged as recurring or non-recurring. You can also determine whether the project supports a global benefit or a local one.

PM3 links the delivery plan to the benefits plan so if a milestone that delivers a benefit is delayed, PM3 flags this so the project manager can make a judgement call as to whether to delay the timing of the benefits or not. This ensures that the timing of the benefits  being reported are accurate and not just the original estimated timing.

Benefits Plan Screen

Benefits Definition Screen