The benefits of a project are notoriously difficult to articulate and quantify. However, to strike a balance between the benefits of the project and the investment needed to fund it, both must be considered on equal terms. This means they must be measured in hard currency which, although difficult, is always desirable if the investment is to be justified. Common examples of (as yet) unquantified benefits include:
e contribution to strategic objectives;
e generation of efficiency improvements;
e provision of access to new customers;
e provision of access to new markets;
e reduction/removal of competitive pressure;
e improvement in customer satisfaction;
e compliance with regulatory imperatives.
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What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.