Benefits Realisation Management

Okay, so you know when you have a toy that you really like playing with? Well, when you get that toy, you are very happy because you can play with it and have lots of fun. This is like when a business has a big idea for a project or plan, they are very excited because they think it will help them make lots of money or get more customers.

But just like with the toy, it's not enough to just have the idea or plan. You have to actually make sure that it does what you wanted it to do, and that you get all of the benefits you were hoping for. For example, if the toy breaks easily or doesn't work very well, you won't be happy, and you won't want to play with it anymore.

This is where something called benefits realisation management comes in. It's like having a grown-up look after the toy for you and make sure it works properly and you get all of the benefits from it.

In the same way, businesses have people who look after projects and plans to make sure that they actually work properly and provide all of the benefits that were expected. This means that the business can be sure that they are getting the most out of their ideas and plans, and that they are using their time and money wisely.

So, benefits realisation management is like a grown-up making sure that the toy works properly, and a business making sure that their plan works properly and they get all of the benefits they were hoping for!