Benefits Management Plan in Project Management

[@pmclounge]

Check out more Integration management videos here goo.gl/9ykFwq

[@moatazaly8365]

Intangible like saving cost and time. Enhancing your reputation in the market. Fulfilling regulatory/governmental requirements.

[@vettv3462]

Best video for Pmp

[@pmclounge]

Thanks!! 🙌

[@pretomghosh6231]

Let's say a government body initiated a project to construct a bridge which will connect a remote territory with the capital city. The remote territory has huge potential and strategic advantages so that industries can be developed there whereas due to lack of road connectivity it wasn't possible in the past. As a result, after the construction of the bridge, let's say 50 new industries have been built there which created jobs and livelihood for around 200k people.The government had a point in their manifesto that they will lower the unemployment rate in the country. The creation of jobs and livelihood will help the government to fulfil their commitment and it will act as an intangible benefit for the government and for the whole country as well.

[@pmclounge]

Good example Pretom. Thanks for sharing

[@pretomghosh6231]

@@pmclounge welcome

[@MuhammadWaqas-gr4gg]

Can you plz elaborate the difference between Outcome and Benefits of the project with some real life example...

[@pmclounge]

Let's say you are creating an e-commerce website. The outcome of your project is an e-commerce website. But the users find your checkout process to be too complex and leave it midway without making any payment. So you delivered the project outcome but not the benefit that could've been derived from that outcome. Don't forget to subscribe for more on project management 😊👍

[@georgebalansag6118]

Intangible such as software development outcome which is not physically touched. I hope I am right.

[@sathish5722]

Where this fits in the PGKA? As part of Develop Project Charter? Thanks.

[@pmclounge]

A benefits management plan document can be seen as something that predates even the project charter. Although, ofcourse this isn't a static document either. For more details check out the article www.pmclounge.com/benefits-management-plan/

[@rajajani5494]

Benefit management plans comes under project commissioning and project closure?

[@pmclounge]

It is one of the initial documents that the project team creates

[@moatazaly8365]

@@pmclounge Its one of the Pre project documents.

[@eat-study]

outcome of a project is the benefit

[@pmclounge]

Thanks for sharing 👍

[@sathish5722]

Those risks captured here will also be captured in Risk register as part of Risk Management? Thanks.

[@pmclounge]

Absolutely. The project team will most likely have much more details about these risks and they will be documented elaborately in the risk register 👍🙂

[@moatazaly8365]

Its whole project risks not individual risks.

[@robertmusilli5198]

great

[@pmclounge]

😊👍

[@mohammadruhailgulzar4146]

Intangible benefit - Customer satisfaction

[@pmclounge]

Agree 🙂👍

[@siladitya1985]

If I may add. Data collected through a Customer Satisfaction Survey with scores may help to make this a tangible benefit ? Happy to be corrected though.

[@moatazaly8365]

Business Documents = Business Case + Benefits Management Plan.

[@cmj13]

Service Benefit