A Definition

 

I have been invovled in Benefits Realization for quite a while and the first challenge I always stumble upon is: "what is a benefit"?  Of course there is no simple answer and in some ways it will be defined by your engrained culture.  So to start things off, I will go to published literature regarding benefits and post this information.  Then over time, I will delve into my definition. 

So please, strap in and welcome aboard as we try to get a better handle on what is benefits realization and how can I use it in my job.

Definitions of Benefit

This is a short compare and contrast exercise to see the variation (and hopefully, consistency) between different people’s definition of Benefit in the context of Benefits Management. Note how specific and context focussed some definitions are.

Cranfield 1996
An outcome which is regarded as favourable, with reference to a previous situation. In this sense, a benefit may be regarded as a favourable change in some value between a previous state and a current state, or between the current state and a future state.

Thorp 2003
An outcome whose nature and value (expressed in various ways) are considered advantageous by an organisation.

Gartner 2005
Benefits are real sources of value to the business, such as increased revenues, better customer retention, lower costs or quicker time to market”

Ward & Daniel 2006
Business Benefit – An advantage on behalf of a particular stakeholder or group of stakeholders

Bradley 2006
A benefit is an outcome of change which is perceived as positive by a stakeholder.

Remenyi, Bannister and Money 2007
A term used to indicate an advantage, profit or gain attained by an individual or organisation

OGC 2003
The quantifiable and measurable improvement resulting from an outcome which is perceived as positive by a stakeholder and which will normally have a tangible value expressed in monetary or resource terms. Benefits are expected when a change is conceived. Benefits are realised as a result of activities undertaken to effect the change.

NHS Connecting for Health (ISIP) 2007
The value placed by a stakeholder on the performance improvement or new capability resulting from an outcome.
Benefits are identified by asking stakeholders to articulate how they believe they (or the people they represent) will experience the value of the outcome, i.e. stakeholders answer the question “what’s in it for me?”

OGC PRINCE2 2009
The measurable improvement resulting from an outcome perceived as an advantage by one or more stakeholders.

OGC Management of Value 2010
A measurable improvement resulting from an outcome perceived as an advantage by a stakeholder.

OGC MSP 2011
The measurable improvement resulting from an outcome perceived as an advantage by one or more stakeholders, and which contributes towards one or more organisational objective(s0.

APMG Managing Benefits 2012
The measurable improvement resulting from an outcome perceived as an advantage by one or more stakeholders, which contributes towards one or more organisational objective(s).

NHS IC 2010 Benefits Glossary
The value placed by a stakeholder on the performance improvement or a new capability resulting from an outcome.
A dis-benefit is an outcome that the stakeholder sees as detrimental to personal interests.

APM Body of Knowledge 6th Edn
The quantifiable and measurable improvement resulting from completion of deliverables that is perceived as positive by a stakeholder. It will normally have a tangible value expressed in monetary terms that will justify the investment.

Dave Davis Definition

An outcome of Change which is seen as positive by the stakeholders.

My definition is simplistic, but as we dive in, we will discover the many implied dimensions. 

I confesss this list is not original and was saved a while ago and I forget the origin.  I will work on finding the source and share it.  Meanwhile - here we go.

We're All In This Together !!!

Dave