Benefits Profile Guidance
Benefit profiles should be prepared for each benefit that underpins a projects/program approved business case.
The purpose of the benefit profile is to describe the benefit in more detail, define the uplift and articulate how the project/program will measure and report on its progress.
Each benefit profile will provide governing bodies with the following:
- Description of the improvement to UQ upon realisation
- Identification of individuals and positions responsible and accountable for delivery of the benefit
- Clarity of outputs and outcomes required to enable the benefit.
- Benefit measurement and reporting
This guide is to be used to assist in the completion of the PGO Benefit Profile template.
BENEFIT DETAILS
| Field Name | Field Description |
|---|---|
| Benefit Title | Brief title of benefit being provided |
| Benefit Type |
The type of benefit that UQ will realise
|
| Benefit ID | Provided by PGO. e.g. PROJ_VRT_00000_BFT_01_01 |
| Project Number | Generated by ProTRAC. e.g. PROJ_VRT_00000 |
| Primary Classification |
|
| Secondary Classification |
|
| Profile Completed By (Position and Name) | Position and Name of the individual who has responsibility for completing the profile |
| Benefit Priority (prioritised by Governing Body) |
The priority (1-5) of the benefit as prioritised by the governing body. 1 (high) - 5 (low). This may be used to inform scope decisions during the course of the initiative etc. |
| Planned Delivery Date | Date the benefit is expected to be realised. |
| Financial Benefit | The quantified financial benefit expected upon successful realisation of the benefit. |
| Person Responsible for Realising Benefit |
Position and name of the individual responsible for realising the benefit e.g. Bert Smith, Project Manager |
| Person Accountable for Realising Benefit |
Position and name of individual accountable for realising the benefit. E.g. Ernie Doe, Division Director |
BENEFIT DESCRIPTION
| Field Name | Field Description/Guidance |
|---|---|
| Benefit Description | Brief summary of the benefit that showcases why this initiative is attractive, meets business objectives and and how it can provide a step-change for UQ. |
| Strategic Alignment | Briefly describe how this benefit profile is linked to UQ's 6 medium-term focus areas. |
| Beneficiaries | List the beneficiaries who will be impacted once realisation has occurred. Indicate those stakeholders who will benefit from the improvement or be affected adversely by a disbenefit). |
| Dis-benefits | A disadvantage as a result of pursuing the benefit. |
BENEFIT MEASUREMENT AND TRACKING (measurements should be unique to each profile)
| Field Name | Field Description/Guidance |
|---|---|
| Benefit measure/indicator | Description of the measurement. |
| Baseline | The current state/starting value from which measurement will commence |
| Target Value / Planned Improvement | The future state/target value expected upon realisation of the benefit |
| Due Date for Improvement | Target date when improvement can be expected |
| Tracking - Frequency | The frequency of how progress will be tracked. |
| Tracking - Responsibility | Individual responsible for tracking progress of the benefit |
STRATEGIC CONTRIBUTION
| Field Name | Field Description/Guidance |
|---|---|
| UQ Strategic Objectives / USMG Level KPIS | UQ Strategic Objective/ Medium-Term Focus Areas / USMG Level KPI or Division/Department. |
| Baseline | The current state/starting value from which measurement will commence |
| Planned Improvement to Objective or KPI | The future state/target value expected upon realisation of the benefit |
| Due Date for Improvement | Target date when improvement can be expected |
ESSENTIAL OUTPUTS, CAPABILITIES and OUTCOMES TO REALISE BENEFIT
| Field Name | Field Description/Guidance |
|---|---|
| Output / Capability / Outcome Description | Are there any prerequisites for realising the benefits? Describe the output / capability / outcome that is required to realise the benefit. Without these established, the benefit won't be capable of realisation. |
| Due Date for Delivery | Provide the date of when the output / capability / outcome is due for delivery. |
| Person Responsible for Delivery | Individual and position of responsible officer providing requirement. |
| Project Ref (If applicable) | Provide the project phase and/or project reference ID if dependency outside this initiative is required. |
ENABLING CHANGES REQUIRED TO REALISE BENEFIT
| Field Name | Field Description/Guidance |
|---|---|
| Nature and Magnitude of Change Required | Briefly describe the nature and magnitude of the change required to realise the benefits. e.g. System delivery, process training, policy etc. |
| Change Management Strategy | Make reference to the Change Management Strategy artefact that provides detail on how the change will be executed. |
| Person Responsible for Change Mangement | Identify the person who is responsible for the change. If this is a project role, provide a secondary name of an individual within operations who will take carriage of the change requirements to realise the benefits. |
RISKS TO REALISING THIS BENEFIT
| Field Name | Field Description/Guidance |
|---|---|
| Risk to realising benefit | Briefly describe the risks that could prevent the benefit from being realised. |
| Level of Risk (Extreme, High, Medium, Low) | Refer to ERMF |
| Controls to Manage the Risk | Briefly desribe the controls in place |
| Person Responsible for Managing Risk | Individual and position of responsible officer providing requirement. |
REVIEWS and REPORTING TO CONFIRM BENEFITS REALISATION
| Field Name | Field Description/Guidance |
|---|---|
| Review Date / Cycle | Dates when formal review of the benefit profiled will take place |
| Review Objective and Scope | The objective and scope of the review and how outputs and outcomes to date are contributing to the benefit to be realised. |
| Reviewer Name and Position | Name and position of individual responsible for undertaking the review. |