Benefits management cycle overview, part 1

- So, how exactly can we ensure that benefits…from a project will actually be realized?…It's very simple.…It can only be done by carrying out specific…benefit management activities throughout…the life cycle of the project and beyond.…In this video, we'll take a tour through the first…two steps of the benefit management activities…you'll need to carry out during the project life cycle.…The first step is to identify the benefits…in the feasibility stage.…Remember, they don't identify themselves.…

As it's very early in the project,…not much detail will be known about the project yet.…So, benefits tend to be high-level and often…expressed in the form of a benefits map.…Let's take an example from the scenario…I've put in the exercise files.…Pause the video and take a minute to read the scenario…so you can follow along.…So, after reading the scenario,…you can see a high-level benefit is that…within the first year two stores are expected…to increase revenues by more than 15%.…

During the definition stage, the high-level benefits…