Benefits management

At a glance

Benefits management is the process of properly identifying, defining, measuring, evaluating and reporting benefits in order to determine whether an initiative has achieved its intended outcomes and objectives once it is delivered. It is an end-to-end process that spans across the whole lifecycle of an initiative. It is a process to ensure that outcomes from an initiative are defined, aligned to transport system objectives and managed through to their achievement or realisation. It provides learnings to ensure continuous improvements in transport system benefit management processes.

The benefits management process consists of four elements: benefits identification (occurring during problems identification and options appraisal), benefits planning (occurring during options appraisal and Business Case development), ongoing benefits monitoring and benefits evaluation following delivery of an initiative.

Benefits identification and planning (ex-ante prior to commencing delivery of an initiative) seek to answer the following questions:

1. What benefits will arise from a specific initiative (aimed at overcoming a problem that is preventing transport system objectives from being achieved)?
2. How will these benefits be measured?
3. What KPIs should be used for benefits monitoring and evaluation?
4. Who will be responsible for measurement?

The outputs of benefits identification and planning consist of Benefits Profiles, a Benefits Register and a Benefits Management Plan.

Benefits monitoring should commence following the Business Case completion and involves the tracking and recording of benefits metrics until benefits evaluation to identify any risk to achieving the identified benefits.

Following delivery of the initiative, benefits evaluation can be undertaken to confirm that the benefits (as defined and agreed before delivery) are being achieved and that the implemented initiative is running smoothly.

Benefits evaluation (ex-post following delivery of an initiative) addresses the following:

1. Assesses whether initiatives have delivered expected benefits, including how well they have performed against performance measures
2. Explains any variation between actual results and expected benefits
3. Identifies any lessons learned that can be used to improve how future initiatives are implemented
4. Provides accountability for money spent on the public’s behalf.

The outputs of benefits evaluation include an updated Benefits Management Plan and Benefits Register. Findings and lessons learned can be identified in an evaluation report.