RSM partner Tim Ryan says it’s important to define expected benefits early and then track continuously. Photo: Thomas Lucraft.
In the world of digital and organisational transformation, success is often measured by deliverables: systems implemented, processes automated, or services digitised. But for business and government leaders, the real question should be, did we realise the benefits we set out to achieve?
Benefits management is the discipline that ensures projects and programs deliver measurable value. It’s not just a reporting tool, it’s a strategic capability that aligns investments with outcomes, tracks progress, and embeds accountability across the lifecycle of change.
Transformation projects are complex, high-stakes endeavours. Whether it’s implementing a new financial system or rolling out digital services to citizens, these initiatives demand significant resources and carry reputational risk.
Yet, many projects fail to realise their intended benefits. Project Management Institute research shows that lack of formal benefits management is a significant cause of program failure. Organisations often change their culture only when benefits are clarified, agreed, and measured.
RSM partner Tim Ryan says, “It’s important to define expected benefits early and then track continuously. The benefits help you to stay focused and ensure alignment with strategic goals.”
Effective benefits management begins before a project is approved and continues long after it’s delivered.
RSM in Canberra suggest five principles underpin a best practice approach.
Benefits should be defined early, ideally during the business case phase. Identifying both tangible outcomes, like cost savings or efficiency gains, and intangible ones, such as better user experience or policy alignment, ensures clarity of purpose and provides a solid foundation for measuring success.
Every benefit needs assigned ownership to guarantee accountability. A clear owner is responsible for ensuring the benefit is delivered and sustained, keeping focus on results even after the project ends.
It’s essential to establish baselines and metrics before implementation. Collecting initial data and setting clear KPIs or feedback measures allows progress to be tracked and benefits to be demonstrated with evidence.
Benefits management should be integrated with governance. Embedding it into governance structures ensures regular reporting, executive oversight, and alignment with organisational strategy throughout the project.
Finally, teams must track and adapt as projects evolve. Benefits realisation is dynamic, so continuous monitoring and adjustment help maintain relevance, correct course when needed, and maximise long-term impact.
“Active benefits management, right from the outset, is essential. Trying to measure benefits at the end of a project is too late as you won’t necessarily have the data to compare against,” Tim says.
“You also run the risk of just measuring what you can rather than what you really should.
“It’s also important, to have a mix of quantitative and qualitative benefits. Although harder to measure, quantitative benefits can be more important than raw numbers like a cost saving.”
For leaders overseeing transformation, benefits management is not optional, it’s essential. Benefits management provides the clarity, structure, and accountability needed to ensure that projects deliver real value. By embedding benefits management into governance and culture, organisations can move beyond delivery to impact.
Benefits need to be managed, not just expected.
For more information visit RSM in Canberra
