PROJECTS wiki Prince2

PRINCE2 templates - Benefit plan

Universal Practical Simple Benefit focused Principles Implement Templates Ready apps for Jira

Benefit management plan is needed to keep in single place 1) Benefit KPI, 2) Agreed actions from Project user(s) to measure & maximize benefit even post-project, 3) Resources needed for Project user(s) to measure benefit & maximize those.

PRINCE2 recommends to keep separate Benefit plan & Business case because

  • Business case answer to question why we do project & is a forecast document that is archived post-project
  • while Benefit plan is an Project user(s) action document or promise from Project user(s) to measure & take extra actions to increase benefit even post-project.
  • Tailored content of template:

    No.Template itemDecription
    1Executive summaryShort executive description of benefit plan goals in few sentences
    2Planned Benefit KPI Expected benefits & they KPI listed with timeline (TO-BE)
    3Current situationCurrent situation of Benefit & they KPI listed when project started (AS-IS)
    4Responsible for benefitResponsible for benefits measurement & leadership to maximize benefit
    5Measurement tools Most critical & vital tools needed to measure benefits
    6Resources & budgetVital resources & budget needed to measure benefit and maximize them during & especially post-project
    7Planned actionsList of actions that will be taken to measure , maximaze & communicate achieved benefits
    8Whom provide resultsWho should receive information about benefits, what format should be used, when information should be delivered
    9ApprovalsLatest plan approval date & by whom
    10Results Actual measurements & results recorded by Senior User

    Quality criteria for good Benefit Management plan:

  • Benefit management plan is integral with Business case
  • Benefits current baseline or AS-IS situation is measured & documented
  • Benefits measurement time horizont seems realistic
  • Benefit management plan provides needed compentent resources who will deliver benefit measurement
  • Benefit management plan provides benefit measurement actions
  • Benefit measurement efforts, actions & resources are adequate to expected benefit itself
  • Templates ( many more templates can be found in PRINCE2 standard):

  • Business case
  • Benefit plan
  • Risk register🔺
  • Recommended solutions for Jira cloud:

    discussion iconPROJECS wiki helps you to understand & implement best project management practices fast & easy & cost-efficient

    discussion iconCreated by : Artūras Bučinskas, PRINCE2 Practitioner