HKSM

A written plan that explains how a project or program will generate, improve, and maintain its intended benefits over time.

Key Points

• Describes how benefits are identified, delivered, measured, and sustained across the life cycle.
• Sets benefit KPIs, baselines, targets, owners, realization timelines, and review cadence.
• Links benefits to the business case, strategy, and key assumptions, risks, and dependencies.
• Defines governance for benefits: roles, decision checkpoints, transition to operations, and change control.

Example

A company launches a CRM project with goals to increase customer retention by 10% within a year. The benefits management plan lists the retention KPI, the current baseline, quarterly targets, the marketing director as the benefit owner, required enablers (training and data cleanup), how progress will be tracked, and how the benefit will be maintained after handoff to operations.

PMP Example Question

Which document outlines how a project will realize, measure, and sustain the value it promises to deliver?

1. Business Case
2. Benefits Management Plan
3. Project Management Plan
4. Stakeholder Engagement Plan

Correct Answer: B — Benefits Management Plan

Explanation: The benefits management plan specifies how benefits will be created, optimized, measured, and sustained, linking them to business objectives and defining ownership and metrics.