Glossary
Baseline: A measure of the current state, prior to implementing a change.
Benefit: The measurable improvement from change, which is perceived as positive by one or more stakeholders, and which contributes to organisational (including strategic) objectives.
Benefit Dependencies: Enabling products/services/outputs and business changes upon which benefits realisation is dependent (may also include intermediate benefits).
Benefits Management: The identification, quantification, analysis, planning, tracking, realisation, and optimisation of benefits.
Benefit Owner: The individual responsible for the realisation of a benefit and who agrees the benefit profile.
Benefit Profile: The document used to record and reach agreement (with the Benefit Owner) on the key details about a benefit (or disbenefit) including categorisation, measures, calculation, baseline, target, and any dependencies.
Benefits Realisation Plan: The plan that provides a consolidated view of the forecast benefits and the baselines against which benefits realisation can be monitored and evaluated. Should also capture governance arrangements, risks to realisation, and assumptions.
Benefits Map: A pictorial representation of the business changes on which benefits realisation depends, and how these benefits contribute towards strategic objectives.
Business Changes: Business changes or other management interventions (e.g. training, staff re-allocation, process redesign, etc.).
Business as Usual: The routine, day-to-day operational activities by which an organisation pursues its mission.
Cost-Benefit Analysis: Analysis which quantifies in monetary terms as many of the costs and benefits of a proposal as feasible.
Cost-Effectiveness Analysis: Analysis that compares the cost of alternative ways of producing the same or similar outputs. Suited to compliance-based projects.
Digital & ICT Portfolio: The collection of digital and ICT-enabled investments that are subject to the Investment Oversight Framework.
Disbenefits: The measurable result of a change, perceived as negative by one or more stakeholders, which detracts from one or more organisational (including strategic) objectives.
Emergent Benefits: Benefits that emerge during the design,development, deployment, and application of the new ways of working, rather than being identified at the start of the investment.
End Benefits: The benefits an investment is set up to realise and which confirm achievement of the investment objectives.
Intermediate Benefits: Benefits which arise during the benefits management lifecycle, and which can in turn enable the realisation of the end benefits that the investment was designed to realise.
Investment Oversight Framework: The Whole-of-Government Digital and ICT Investment Oversight Framework is a six-stage, end-to-end framework providing a way for the Government to manage digital and ICT-enabled investments across the entire project lifecycle.
Measures: One or more agreed measurable performance indicators used to demonstrate the achievement of a benefit.
Multi-Criteria Analysis: A technique applied to the appraisal of options. It is based on assigning weights to relevant financial and non-financial criteria, and then scoring options or investments in terms of how well they perform against these criteria.
Outputs: The tangible or intangible artefacts produced, constructed, or created as a result of a planned activity.
Senior Responsible Official (SRO): The Senior Executive Service (SES) official accountable for programme/project success, who ensures that benefits are realised post investment closure.
SMARTAA: Specific, measurable, achievable, realistic, timely, agreed, and attributable to strategic objectives.
Top-Level Benefits: Top-level benefits are the highest priority benefits that capture the intent of the investment and will provide the clearest evidence that an investment has achieved its stated aims. As a guide:
- Tier 1 proposals should generally articulate between 1 and 5 top-level benefits.
- Tier 2 proposals should generally articulate between 1 and 3 top-level benefits.
- Tier 3 proposals should generally articulate 1 to 2 top-level benefits.
Acknowledgments
This BMP draws on global experience and learning. It is predominantly based on APMG-International’s Managing Benefits™ methodology and definitions. This Policy builds on learnings from a robust discovery process, engagement with numerous entities in Australia and overseas, and draws on extant literature and best practice publications. The following best practice sources are gratefully acknowledged:
Jenner, S and APMG International, Managing Benefits: Optimizing the Return from Investment. 2014
Infrastructure and Projects Authority (UK Government), Guide for Effective Benefits Management in Major Projects. 2017
The Treasury, New Zealand Government, Managing Benefits from Projects and Programmes: Guide for Practitioners. 2019
Australian Taxation Office, Benefits Management Framework. 2020
Australian Bureau of Statistics, Benefits Management Framework. 2020
New South Wales Government, Benefits Realisation Management Framework. 2020
IP Australia, Benefits Management Framework. 2015
Axelos, Managing Successful Programmes (MSP®) 5th Edition. 2020
Services Australia, Benefits Realisation Manual. 2022
Contact and Feedback
Please contact us for further information. We value your feedback and ideas to help improve our processes and information. If you have any comments regarding this document, please share your thoughts with us: benefits.management@dta.gov.au