Benefit
Official Definition:
A measurable improvement resulting from an outcome perceived as an advantage by one or more stakeholders, which contributes to organisational objectives.
Layman’s Definition:
A measurable, good result or gain from doing the project — like saving time, making money, or making customers happier.
Examples:
• Healthcare – Efficiency Gains: Reduce hospital waiting times by 25%.
• Transport – Cost Reduction: Achieve £1.2M savings annually by switching to electric fleet.
• IT – System Upgrade: Improve data processing speed by 60%.
When to use:
Use when defining the business case, assessing project justification, or conducting post-project evaluations to measure value delivery.
What it might look like in practice:
• Documented in a Business Case and tracked during and after project completion.
• Linked to measurable KPIs and reviewed by the project sponsor or board.