Benefits realisation management (BRM) (also benefits management, benefits realisation or “Project Benefits Management) is one of the many ways of managing how time and resources are invested into making desirable changes and controlling the PRINCE2 Business Case Theme.
Benefits Realisation Management has four main definitions .
The first definition is to consider Benefits Management as an organisational change process. It is defined as “the process of organizing and managing, such that the potential benefits arising from the use of IT are actually realized”
The second definition perceives it as a process. Benefits Management is defined by the Association for Project Management (APM) as the identification, definition, planning, tracking and realisation of business benefits. The third definition is to apply this concept on project management level. Project Benefits Management is defined as “the initiating, planning, organising, executing, controlling, transitioning and supporting of change in the organisation and its consequences as incurred by project management mechanisms to realise predefined project benefits”
Finally, the last definition perceives Benefits Realisation Management (BRM) as a set of processes structured to close the gap between strategy planning and execution by ensuring the implementation of the most valuable initiatives.
David spent 25 years as a senior project manager for USA multinationals, and has deep experience in project management. He now develops a wide range of project-related downloadable video training products under the Primer and Projex Academy brand names. In addition, David runs project management training seminars across the world, and is a prolific writer on the many topics of project management.