Benefits management: Aligning projects with organisational success

How do we ensure our projects deliver meaningful value to our organisations while balancing innovation and stability? Benefits management provides a structured approach to help align projects with strategic objectives, ensuring every initiative contributes to organisational success. Published in PM World Journal in April 2025 as part of the series on British Standard BS202002, the latest article explores how benefits management supports portfolio prioritisation. Let’s explore how we can apply this concept to drive better outcomes in our projects.

Why benefits management matters

Projects are often judged by their outputs—new systems, buildings, or processes. But outputs alone don’t guarantee success. Benefits management shifts the focus to outcomes—measurable changes that align with organisational goals.

For example, in a hospital, outputs might include new facilities or IT systems, but benefits could be reduced wait times or higher patient satisfaction scores. Benefits management ensures these outcomes are tracked and realised, keeping us focused on delivering value rather than just ticking boxes.

Portfolio prioritisation: Choosing the right projects

With limited resources, prioritisation is key. Benefits management helps us evaluate projects based on their contribution to organisational objectives. Consider these factors:

Strategic fit: Does the project align with our mission?
Capability enhancement: Will it improve our organisation’s skills?
Stakeholder satisfaction: How will it impact customers or employees?

For example, a financial institution might prioritise a digital transformation project over upgrading office facilities because it aligns better with their strategic goal of enhancing customer experience.

Balancing change with Business-as-Usual (BAU)

Change is exciting, but BAU keeps the lights on. Benefits management helps us strike a balance between innovation and stability. It ensures resources aren’t drained from critical operations while pursuing new initiatives.

Ask ourselves:

Will this project disrupt essential services?
Can we maintain compliance while implementing changes?
How does this initiative improve BAU in the long term?

Practical application: How would you use this?

Let’s make this real. Imagine we’re managing a portfolio of projects for a retail bank. How would we apply benefits management to prioritise initiatives?

Know your strategic objectives: What is the organisation’s performance supposed to look like at each point in time in the future? (BS202002 Clause 7.2)
Forecast the whole of your current position: Add together the sums of all the forecasted contributions to organisational performance from all of the major projects (BS202002 Clause 7.3)
Identify gaps: Are there areas where BAU or strategic goals are falling short? (BS202002 Clause 7.4)
Evaluate options: Use tools like Benefits Dependency Networks (BDNs) to map how projects contribute to objectives. (Clause 7.5)
Balance resources: Allocate staff and budget wisely between BAU and change initiatives. (and back through the cycle Clauses 7.3 to 7.5 – allocating resources to new initiatives takes resources from other initiatives and will change their forecasts).

Figure: how do your actual or forecast benefits compare with your expected or required benefits? What do you need to do about it?

Conclusion

Benefits management isn’t just about delivering outputs; it’s about creating value that drives organisational success. By aligning projects with strategic objectives, balancing BAU and change, and using tools like BDNs, we can ensure every investment delivers measurable outcomes.

How would you apply this in your organisation? Share your thoughts below or explore the full article in PM World Journal. Together, let’s turn strategy into reality!