From Business Case to Benefits Realisation: Theory and Practice in UK Government Projects
In UK government Projects, HM Treasury Green Book and Five Case model provide a structured approach to making and appraising investment proposals. The model is designed to ensure that projects are; compelling, viable, affordable and achievable and, most important of all, they represent optimal value for money.
Benefits - financial and non-financial - should be identified early, and weighed against costs and risks to justify the investment on economic grounds and select the most appropriate delivery option. Once the full business case is approved, programme planning moves inexorably into delivery.
However, this is just the start. A robust benefits realisation management plan is needed. A plan to provide a benefits-focus for project and programme teams; allocate responsibility for delivering each benefit, and specify appropriate measures to monitor progress. What could possibly go wrong?
The Infrastructure and Projects Authority Annual Report [April 2017] assessed 38 [of 149] GMPP projects, as red or red/amber - meaning successful delivery was in doubt or unachievable unless action was taken.
Beyond UK Government projects, Pulse of the Profession report ‘Strategic Impact of Projects: Identify Benefits to Drive Business Results’ shows that across the world, and throughout the public and private sectors, an average of £122m is lost for every £1bn spent on projects.
The purpose of the presentation is to:
- Provide an appreciation of business case development and benefits realisation in UK Government Projects and Programmes
- Identify what can be done to narrow the gap in public value between business case and effective benefits realisation
- Share knowledge and lessons learned with practitioners and the P3M Profession
About Merv Wyeth
Merv is UK Service Delivery Partner of Amplify An Enterprise Software Solution for Benefits-led Portfolio Management.
Previously, during a 25-year police service career, Merv performed a mix of operational & support roles including PPM and Business Change, and developed his passion for benefits management. He is now a Better Business Case, Open Strategies and Managing Benefits practitioner.
Merv is Secretary to APM Benefits Management SIG and fellow of the APM. He is a co-organiser of the Business Case Practitioner Forum and a member of PMI Virtual Events team.
Merv is a well-known ‘activist’ in the Benefits Management community.