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Benefits Management

Glossary from book

QuestionAnswer
Benefits Management The process of organizing and managing such that the potential benefits arising from the use of IS/IT are actually realized.
Benefit owner An individual or group who will gain advantage from a business benefit and who will work with the project team to ensure that benefit is realized.
Benefit streams A set of related benefits and their associated business and enabling changes and enabling IS/IT.
Business benefit An advantage on behalf of a particular stakeholder or group of stakeholders.
Business changes The new ways of working that are required to ensure that the desired benefits are realized.
Business and organizational drivers Views held by senior managers as to what is important to the business - in a given timescale - such that they feel changes must occur.
Change owner An individual or group who will ensure that a business or enabling change identified is successfully achieved.
Enabling changes Changes that are prerequisites for achieving the business changes or that are essential to bring the system into effective operation within the organization.
Financial benefit By applying a cost /price or other valid financial formula to a quantifiable benefit a financial value can be calculated.
Investment objectives Organizational targets for achievement agreed for the investment in relation to the drivers. As a set they are essentially a description of what the situation should be on completion of the investment.
IS/IT enablers The information systems and technology required to support the real- ization of the identified benefits and to allow the necessary changes to be undertaken.
Measurable benefit This aspect of performance is currently being measured or an appropriate measure could be implemented. But it is currently not possible to estimate by how much performance will improve when the changes are completed.
Observable benefit By use of agreed criteria
Quantifiable benefit Sufficient evidence exists to forecast how much improve- ment/benefit should result from the changes.
Stakeholder(s) An individual or group of people who will benefit from the invest- ment or are either directly involved in making or are affected by the changes needed to realize the benefits.
Why a potential investment Why is the investment being made - why does the organization need to change and how critical to its future is the successful management of the changes?
what a potential investment What types of benefit is the organization expecting to achieve by making the changes - to reduce costs
how of a potential investment How can a com- bination of IT and business changes deliver those benefits at an acceptable level of risk?
Created by: 699105122
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