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|Title: ||The benefits quantification method: a practical approach to engaging stakeholders in the judgement of benefits realisation|
|Authors: ||Thomson, Derek S.|
Kaka, Ammar P.F.
|Keywords: ||Benefits realisation|
|Issue Date: ||2011|
|Publisher: ||The Health and Care Infrastructure Research and Innovation Centre (HaCIRIC) © The authors|
|Citation: ||THOMSON, D.S. ... et al., 2011. The benefits quantification method: a practical approach to engaging stakeholders in the judgement of benefits realisation. IN: Proceedings of the 4th Annual Conference of the Health and Care Infrastructure Research and Innovation Centre, HaCIRC 2011. Global Health Infrastructure - Challenges for the Next Decade, 26th-28th September 2011, Manchester, pp. 224 - 243.|
|Abstract: ||The Benefits Quantification Method (BQM) is a practical approach to engaging stakeholders in
the definition and judgement of benefits sought from investments in healthcare infrastructure;
most notably buildings. As many of these benefits are intangible and cannot be directly
measured, the extent of their realisation must be judged by the stakeholders to whom they will
accrue. This requires a participatory approach to defining investment project intent and
monitoring performance in realising same.
The BQM addresses this problem by operationalising utility theory to quantify the benefit
realisation performance of an investment project. These quantifications, which represent
stakeholders’ perceptions of the worth of benefits realisation are intended to inform a Benefits
Realisation Management Process (BRMP) such as HaCIRIC’s BeReal.
This paper summarises the theoretical underpinnings of the BQM and presents a hypothetical
example of its use derived from insights gained during its development. The role of a BQM
Facilitator in engaging stakeholders in the translation of programme-level, strategic benefits into
the project-level, tactical benefits they seek is explained. The practicalities of translating abstract
definitions of benefits into practical explanations of what stakeholders expect benefits realisation
to “look like” when achieved are addressed. The need for rigour in eliciting the judgements of
benefit worth that underpin the BQM’s ability to translate stakeholder observations of benefitgenerating
investment qualities into meaningful quantifications of benefit worth is identified.|
|Description: ||This is a conference paper. The definitive version is freely available at: http://www.haciric.org/|
|Version: ||Accepted for publication|
|Publisher Link: ||http://www.haciric.org/static/doc/events/HaCIRIC_11_conference_proceedings.pdf|
|Appears in Collections:||Conference Papers (Civil and Building Engineering)|
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