Establishing And Verifying Business Benefits

Defining benefits so that they can be verified is one of the most subtle elements in the construct of a business case. The identification of where benefits are created by the project within the firm — and how to perform the quantification of the benefits — can be difficult to pin down without a reliable methodology or technique. Once the benefits are estimated, they must be linked to the project plan deliverables in a way that enables post-implementation follow-up to verify the realization of benefits. The benefits estimates within the cost benefit analysis chapter of the business case are like the top line in the firm's income statement. When revenue is not realized, the bottom line is red. And stakeholders, much like a firm's shareholders, will not be pleased.