A team from partner Fraunhofer FIT-WI organised workshops with the end user partners to assess the benefits from the use of the COMPOSITION solutions in their everyday activities. This assessment process takes into consideration not only the costs and profits, but also multiple scenarios and the associated risks. It was an interesting process, leading to significant conclusions, which have the potential to affect the final business plans under preparation.
Benefits Management is commonly referred to as the process of identification, tracking and quantification of business benefits for the purpose of assessing the gain resulting from a planned or executed project. The BeneFIT approach to Benefits Management is a comprehensive, quantitative and mathematically well-founded method to achieve this, and particularly suitable for IT-related projects. It provides a scheme to collect all relevant data and a tool to compute the benefits quantitatively, taking into account uncertainties, dependencies and risk averseness of the entrepreneur. Moreover, it presents a framework to track the progress of the project.
