“Not only were benefits delivered for our staff but, more importantly, Grosvenor helped us to determine how to deliver greater value to our beneficiaries.”
Realising real business benefits requires reduced costs and/or increased revenue for the enterprise and/or improved services for customers, donors, citizens etc. Many so-called benefits in business cases will be just additional costs until (and if) the advantages they bring result in increased value. Benefits management needs to distinguish between these “intermediate benefits” and real value creating benefits.
Benefits contribute to creation of value but some are additional costs
Despite business cases being the usual foundation on which investment decisions are made, they rarely provide the level of information needed to validate the claims about benefits delivery. Benefits contribution to value only takes place when something happens as a result, such as improved productivity resulting in increasing profitable sales for businesses, additional services for citizens or for beneficiaries of charities. Rarely is benefits ownership identified and benefits tracking (using benefits registers) undertaken through to the delivery of value. If you would like to learn more about how Grosvenor’s Value Management can help your enterprise convert benefits claimed in business cases into real business value, simply download our targeted paper on Benefits apprppriate to your sector.