From the course: Managing Project Benefits
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Benefits measurement techniques
From the course: Managing Project Benefits
Benefits measurement techniques
- When benefits tracking and measurement begins, you'll need a way to measure achievements. Let's take a look at a few of the options. The first is quantitative measure, which is expressed in numerical terms. For example, using our scenario, after delivering the new technology the supermarket store has measured an improvement in combined revenue growth of 25% in the first year. Another type of measure is qualitative, where the improvement is expressed in descriptive terms. For example, after surveying customers who have used the new self-checkouts, that have rated their satisfaction of the new technology as an eight out of 10. Then, there's the financial measure, which is expressed in monetary terms. For example, the combined increased revenue generated in the first year for both stores is 287,500. Surveys, or proxy measures are used to determine non-financial benefits, such as happier staff or customers, improved staff morale, or increased brand recognition. These benefits often lead…
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