Benefits of Review Plan

The benefits can be measured after the project itself as being closed, a project produces a benefits review plan. This defines the scope timing and responsibilities for benefit reviews. The benefits review plan is created by theproject manager during the initiations stage. It is submitted for approval to the project board a spot of project authorization. The project board in turn may need an approval from corporate or program management. The benefits review plan is an updated tool the end of each stage, and the update includes details of benefits that have already been achieved.

The purpose and the composition now you do need to be very familiar with these products you said dont need memorize them word to word, but you should have a very clear idea of what is in each of these management products. The plan is presented to the executive, during the initiating a project process that's one of the things that the project manager does, updated to each stage boundary and use during the closing a project process to define any post project benefits reviews that are required. If the project is part of the program, the benefits review plan may be contained within the program's, benefits realization planned and executed at a program level. Post project the benefits review plan is maintained and executed by corporate or program management, so that the important points about the purpose of the benefits review plan. If we now move on to the composition the key points in the composition, the scope of the benefits if you plan covering what benefits to to be measured.

• Who is accountable for the expected benefits

• How to measure them on when they can be measured

• What resources on needed to carry out the review work there in mind this may well involve cost to the project handle the program

Baseline measures from which the improvements will be calculated, and how the performance of the projects products will be reviewed. So what I like you to do from now. Some final points on the benefits plan Prince2 recommends that the benefits review plan be kept separate from the project plan and stage plans. The project manager reports any benefits measurements in end stage reports

Details related to any residual benefits are updated during managing the stage boundary process. The post project benefits reviews will require the senior user to provide evidence of how the individual benefits have been gained. Compared to the benefits use to justify the project, so us just for the senior user to show, how the project's expected benefits have been realized, and to compare that realization with the expectation that was part of the projects justification and to review the performance of the projects products in operational use and to identify any side effects that may provide useful lessons for other project lessons learned from later projects.

Typical contents of a business case:

• An executive summary

• Then a statement of the reasons for the project

• The business options that have been considered

• The expected benefits of the project

• Any expected dis beniefits of the project

• A clear idea of the timescales for the project

• The costs

• Investments appraisal

• To also important to identify any major risks to the project

Now the first thing to look at is the product description outlined for business case. But these are not full products description they are only outlines. And the full products description should be tailored to the requirements and environment of each project.

Baselines record's and reports

The baseline management products are those that defines something in the project such as the benefits review plan on the once they've been approved this subject to change control.

The record's type of management products a dynamic management products that maintain information regarding the progress of the project. So for insist there is a risk register that keeps track of the management of risks and a daily log recording things a hat and each day on a project.

The third type of management products is the reports, on these provide a snapshot of status at a point in time fora project so the source of management products that are reports ofcheckpoint reports and highlight reports.