How does benefit realization differ from traditional evaluation methods and what potential obstacles are there in implementing the approach? Is there a difference between benefits and value in an organisation? Why do you say so?
The difference between benefits realization and traditional evaluation for project management is that the benefits of understanding are mainly used in dynamic and complex management projects. But regular assessment is generally used in simple project planning. The clear picture of the benefits associated with the project cannot be generated through it.
Another challenge occurs in the implementation of the benefits realization is that the benefits are not easily verifiable, and hence, accountability of the benefits can be misplaced.
There is a difference between benefits and value. Benefits create value for the organisations. The successful projects are given bonuses, then it leads to the creation of importance among the stakeholders and customers.