The benefits management plan is a document that describes how the benefits of the project will be delivered, measured, and sustained. It includes the benefits identification, analysis, planning, realization, and transition activities. By quantifying the expected tangible and intangible benefits in the benefits management plan for each phase, the business can increase the value of the project by demonstrating how the project contributes to the strategic objectives, customer satisfaction, and competitive advantage of the organization. Quantifying the benefits also helps to monitor and evaluate the performance of the project and the benefits realization process, and to identify and address any gaps or issues that may arise. Quantifying the benefits can also facilitate the communication and reporting of the value of the project to the stakeholders and the senior management.
References: (Professional in Business Analysis Reference Materials source and documents)
* PMBOKGuide, 6th edition, Section 4.5.3.1, p. 123
* PMI Professional in Business Analysis (PMI-PBA)Examination Content Outline, Domain IV:
Traceability and Monitoring, Task 2, p. 13
* Business Analysis for Practitioners: A Practice Guide, Section 5.3.1, p. 113