What are Project Benefits? | Video

Project benefits are the reason we do projects. Deliverables are only of any use to the extent that they also realize benefits.

So, what are Project Benefits?

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Project benefits are the reason we do projects.

Deliverables are only of any use to the extent that they also realize benefits. Benefits are measurable improvements that are the outcome of a change your project creates. And your stakeholders must see them as positive.

So, products or deliverables are the tangible or experiential outputs from your project. These lead to changes in the real world – outcomes. And, if your stakeholders see those changes as good, they are benefits.

Examples of Project benefits

Financial benefits like:

• Cost savings
• Enhanced revenue
• Advancing of receipts

Non-financial benefits like:

• Compliance with regulation or legislation
• Better levels of customer care
• Reduced staff absences and increased motivation

Net Benefit

Net benefit is the total benefit minus total cost. Also, we sometimes call this ‘value’.

Planned and Emergent Benefits

• Some benefits are planned – you anticipate them
• Others are emergent – they arise from your work, but we did not expect them.

Disbenefits

And some benefits are negative – or ‘disbenefits’. That is, your stakeholders perceive them to be a bad outcome.

Learn More

I have just launched a brand new course. It’s called Project Benefits Management. The standard price is US$57 (+ any local taxes). Until the end of February 2021, there is a substantial launch discount of $30 discount (Pay only $27).

What Kit does a Project Manager Need?

I asked Project Managers in a couple of forums what material things you need to have, to do your job as a Project Manager. They responded magnificently. I compiled their answers into a Kit list. I added my own. 

Check out the Kit a Project Manager needs

Note that the links are affiliated.

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