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Technical Specification

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Governance of benefits realization for IT

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SA/SNZ TS 8019:2016

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SA/SNZ TS 8019:2016
This Joint Australian/New Zealand Technical Specification was prepared by Joint

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Technical Committee IT-030, ICT Governance and Management. It was approved

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on behalf of the Council of Standards Australia on 4 December 2015 and on behalf

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of the Council of Standards New Zealand on 11 December 2015.

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This Technical Specification was published on 29 January 2016.

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The following are represented on Committee IT-030:

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Australian Computer Society

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Australian Industry Group

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Australian Information Industry Association

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Australian Institute of Company Directors

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Consumers’ Federation of Australia

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Council of Small Business Organizations of Australia

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Governance Institute of Australia

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Manukau Institute of Technology
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National ICT Australia
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New Zealand Computer Society
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Project Management Institute

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Quantitative Enterprise Software Performance

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The IT Service Management Forum (Australia)

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Keeping Standards up-to-date

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Standards are living documents which reflect progress in science, technology and
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systems. To maintain their currency, all Standards are periodically reviewed, and
new editions are published. Between editions, amendments may be issued.
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Standards may also be withdrawn. It is important that readers assure themselves

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they are using a current Standard, which should include any amendments which
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may have been published since the Standard was purchased.

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Detailed information about joint Australian/New Zealand Standards can be found by

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visiting the Standards Web Shop at www.saiglobal.com.au or Standards New

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Zealand web site at www.standards.co.nz and looking up the relevant Standard in

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the on-line catalogue.

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For more frequent listings or notification of revisions, amendments and

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withdrawals, Standards Australia and Standards New Zealand offer a number of

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update options. For information about these services, users should contact their
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respective national Standards organization.

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We also welcome suggestions for improvement in our Standards, and especially

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encourage readers to notify us immediately of any apparent inaccuracies or

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ambiguities. Please address your comments to the Chief Executive of either

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Standards Australia or Standards New Zealand at the address shown on the back
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Techical Specification

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Governance of benefits realization for IT

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First published as SA/SNZ TS 8019:2016.

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COPYRIGHT
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© Standards Australia Limited/Standards New Zealand

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All rights are reserved. No part of this work may be reproduced or copied in any form or by
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any means, electronic or mechanical, including photocopying, without the written

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permission of the publisher, unless otherwise permitted under the Copyright Act 1968
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(Australia) or the Copyright Act 1994 (New Zealand).

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Jointly published by SAI Global Limited under licence from Standards Australia Limited,
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GPO Box 476, Sydney, NSW 2001 and by Standards New Zealand, Private Bag 2439,
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Wellington 6140.
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ISBN 978 1 76035 387 2

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PREFACE

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This Technical Specification was prepared by the Joint Standards Australia/Standards New

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Zealand Committee IT-030, ICT Governance and Management.

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A large number of organizations, both in public and private sectors have difficulty in

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showing that IT enabled investments actually delivered the intended value. The objective of

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this Technical Specification is to provide guidance to the governing bodies and executive

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management to support better decision making involving IT enabled investments.

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This Technical Specification is based on AS/NZS 8016:2013, Governance of IT enabled

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projects and ISO/IEC 38500:2015, Information technology—Governance of IT for the

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organization.

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The term ‘informative’ has been used in this Standard to define the application of the

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appendix to which it applies. An ‘informative’ appendix is only for information and

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guidance.

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CONTENTS

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FOREWORD .............................................................................................................................. 4

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SECTION 1 SCOPE AND GENERAL

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1.1 SCOPE AND APPLICATION ..................................................................................... 6

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1.2 GOVERNANCE OF BENEFITS REALIZATION ...................................................... 6

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1.3 REFERENCED DOCUMENTS ................................................................................... 7

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1.4 DEFINITIONS............................................................................................................. 7

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SECTION 2 FRAMEWORK AND MODEL FOR GOVERNANCE OF BENEFITS

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REALIZATION FOR IT ENABLED INVESTMENTS

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2.1 GOVERNANCE FRAMEWORK ................................................................................ 9

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2.2 ACCOUNTABILITY OF GOVERNING BODY......................................................... 9

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2.3 DELEGATION .......................................................................................................... 10

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2.4 THE MODEL ............................................................................................................ 10

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SECTION 3 APPLICABILITY OF PRINCIPLES FOR GOVERNANCE OF IT
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3.1 PRINCIPLES FOR GOOD GOVERNANCE OF IT .................................................. 13
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3.2 APPLICATION OF THE PRINCIPLES OF GOOD GOVERNANCE OF IT TO
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BENEFITS REALIZATION FOR IT ENABLED INVESTMENTS .......................... 13

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APPENDIX A BIBLIOGRAPHY .......................................................................................... 17

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FOREWORD

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01
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This Technical Specification provides guidance to those at the highest level of

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organizations in the effective governance of benefits realization for IT enabled investments;

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these are investments that deliver IT enabled business capability and outcomes and are

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usually executed as projects rather than managed as part of business as usual operations.

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A 2015 Pulse of the Profession* survey by Project Management Institute shows—

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(a) poor performance results in organizations wasting US$109 million for every

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US$1 billion spent on projects;

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(b) only one in five organizations have a high level of benefits realization maturity; and

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(c) organizations that report a high benefits realization maturity have significantly better

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5 4% LEGEND:
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% am o ng org aniz at i o ns t hat have hig h
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43%
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38% benefits realiz ation matur it y
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% am o ng org aniz at i o ns t hat have l ow

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benefits realiz ation matur it y

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M et or iginal Fini s he d Fini s he d wit h

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FIGURE 1 BENEFITS REALIZATION AND PROJECT OUTCOMES

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Organizations spend considerable effort in development of business cases for investments.

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However, in many organizations the business case is seen as a bureaucratic ‘hurdle’ to be

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cleared in order to get required resources, especially financial. Their focus is on the
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technology and its costs, with only a cursory discussion of benefits, or of the other changes
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that the organization might have to make to actually realize benefits from the use of the
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technology—changes that could impact the business model, processes, people’s

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competencies, technology, organizational structure etc. Business cases are also all too often
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treated as one-off documents that are rarely looked at again once the required resources
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have been obtained other than, possibly, at a post-implementation review.

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As a result, organizations may—

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(i) have limited or no shared understanding of expected benefits from their investments;
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(ii) fail to understand and manage the full scope of organizational change required to
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realize those benefits, and consequently significantly underestimate the complexity

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and associated time, cost and risk impact;

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(iii) lack clear accountability (and associated consequences) for the realization of benefits;
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(iv) lack metrics to know if claimed benefits are being realized and, consequently, resort
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to ‘forcing’ or ‘extracting’ benefits with no traceability back to the business case; and
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(v) fail to come close to realizing the potential benefits from their investments.
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* Project Management Institute, 2015 PMI® Pulse of the Profession Report, 2015. Copyright and all rights
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reserved. Material from this publication has been reproduced with the permission of PMI.
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An April 2012 survey from Moorehouse in the UK † has shown that less than 24% of

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projects track the benefits upon completion. This raises a challenge for the leadership of

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organizations related to the governance of their investment decisions. The failure of

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organizations to step up to this challenge is disturbing. The consequences are often

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catastrophic, with the costs being borne by taxpayers and shareholders, and the opportunity

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cost—the value not being delivered—having huge economic and social impacts.

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This Technical Specification aims to raise the profile of this issue and provide guidance to

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the governing bodies to help them ask the right questions and promote the culture of

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accountability on benefits realization in their organizations.

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† Moorhouse Survey, Benefits of Organizational Change, April 2012.

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STANDARDS AUSTRALIA/STANDARDS NEW ZEALAND

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Australian/New Zealand Technical Specification

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Governance of benefits realization for IT enabled investments

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S E C T I O N 1 S C O P E A N D G E N E R A L

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1.1 SCOPE AND APPLICATION

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1.1.1 Scope

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This Technical Specification provides guiding principles on the governance of benefits

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realization for IT enabled investments. It proposes a framework for governance

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incorporating definitions, principles and a model.

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1.1.2 Application

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This Technical Specification is applicable to IT enabled investments and can be easily
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extended to include other investments.

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This Technical Specification applies to the governance of benefits realization of such
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investments, and does not focus on the delivery of the capability, which is addressed in
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AS/NZS 8016. It applies to the entire business life cycle of the investments, from
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conception to realization, with a focus on realizing intended business outcomes, benefits

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and value.
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This Technical Specification is intended for use by the governing bodies and executive
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managers of organizations (including owners, board members, directors, partners and senior
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executives) and those with responsibility for identification, definition, tracking and
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1.2 GOVERNANCE OF BENEFITS REALIZATION

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1.2.1 Principles
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Section 3 outlines principles for the governance of benefits realization that aim to balance
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value opportunities and risks arising from IT enabled investments.

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1.2.2 Performance
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Good governance of benefits realization for IT enabled investments ensures that

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investments contribute positively to the performance of the organization and that the
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governing body and management are informed about the risks associated with benefits
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realization for IT enabled investments at conception and throughout the investment

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life-cycle.
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The outcomes of good governance of benefits realization include the following:

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(a) Standard terminology around the investment life-cycle.

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(b) Clarity of desired outcomes of investments, the expected contribution of the

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investment to those outcomes, and how internal and external factors can impact the
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achievement of those outcomes.

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(c) Benefits which are SMART (Specific in terms of the expected outcomes,
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Measureable, Attainable, Relevant, and Timely).

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(d) Use of the evaluate-direct-monitor model in Clause 2.4 in governance of benefits

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(e) Clear accountability and responsibility for the realization of benefits is identified in

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the business case.

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(f) The business case—its content and use throughout the investment life-cycle, as a key

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(g) Approval of future investments and business cases takes into account active benefit

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profiles of related investments, i.e. how benefits (and disbenefits) are realized.

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(h) Establishment and continuous use of sound management processes as per Figure 3,

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including review and reporting throughout the investment life-cycle.

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1.2.3 Conformance

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Principle 5 in Clause 3.2.5 outlines how benefits realization for IT enabled investments will

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assist the organization in assuring conformance with obligations (e.g. fiduciary, regulatory,

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legislative, common law and contractual) concerning business operations.

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1.3 REFERENCED DOCUMENTS on mmi

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The following documents are referred to in this Technical Specification:

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NOTE: Documents that may be referred to for additional information are listed in Appendix A.
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8016 Governance of IT enabled projects

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38500 Information technology—Governance of IT for the organization

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1.4 DEFINITIONS
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For the purpose of this Technical Specification, the following definitions apply.
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1.4.1 Benefits management framework

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The document that provides advice on the benefits management practices adopted by the
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planning, and realization of benefits.

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1.4.2 Benefits realization

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The value delivered by the investment throughout the investment life-cycle for any related
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1.4.3 Business case

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A clear referenceable justification of an investment which typically contains costs, benefits,

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the benefit owner (s), timescales and recommendations on how the outcomes will be
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delivered.
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1.4.4 Governing body

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Person or group of people who are accountable for the performance and conformance of the
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[SOURCE: ISO/IEC 38500:2015, Definition 2.9]

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1.4.5 Investment decision

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The decision to proceed with a program or project to deliver business outcomes.

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the investment life-cycle to ensure that the decision to invest as per agreed business cases

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An investment in business capability that is enabled by existing, new or changed IT

Structured reviews of a project, program or portfolio carried out at key decision points in

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S E C T I O N 2 F R A M E WO R K A N D M O D E L F O R

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G O V E R N A N C E O F B E N E F I T S R E A L I Z A T I O N

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F O R I T E N A B L E D I N V E S T M E N T S

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2.1 GOVERNANCE FRAMEWORK

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An organization’s governance of benefits realization for IT enabled investments should be

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The governance framework depends on the size and nature of the organization, and the

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I nve s t m e nt d e live r y

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the use of IT by t h e g over n a n c e fr a m ewo r k

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R e a li z a t i o n o f inve s t m e nt through which

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Risk management
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FIGURE 2 KEY ELEMENTS OF GOVERNANCE OF BENEFITS REALIZATION

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FRAMEWORK FOR IT ENABLED INVESTMENTS

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An investment is approved to deliver business capability, a project or program delivers the

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business capability and benefits are realized over the investment life-cycle delivering
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business outcomes as stated in the business case.

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The governance framework described in this Section is relevant for all IT enabled
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2.2 ACCOUNTABILITY OF GOVERNING BODY

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The governing body is accountable for organization’s transformation objectives, and for the
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decision making of related investments. The governing body needs to provide clear
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direction on priorities and ensure that effective and appropriate systems are in place for
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2.3 DELEGATION

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The governing body may delegate approval of investments to the management based on size

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the governing body and cannot be delegated. The governing body should determine and

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2.4 THE MODEL

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2.4.1 General

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FIGURE 3 GOVERNANCE MODEL FOR BENEFITS REALIZATION FOR IT ENABLED

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Investment life-cycle consists of two sets of ongoing activities in investment planning and

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investment delivery. Regardless of the delivery method—Waterfall, Agile or Hybrid, the

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benefits realization life-cycle maps to the investment life-cycle and benefits continue to be

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In the context of the governance for IT enabled investments, the governing body should

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govern the benefits realization for IT enabled investments through the following activities:

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(a) Evaluate Consider and make informed judgement about proposals for business

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(b) Direct Set investment priorities, prioritization criteria, benefits management

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framework and decision-making responsibilities in relation to IT enabled investments.

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See Clause 2.4.3.

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activities should form the basis for continual governance of benefits realization for IT
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enabled investments rather than being applied only on an annual basis or for a periodic
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Key questions by the governing body, when evaluating the benefits realization relating to
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IT enabled investments, should include the following:

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(a) Are the forecast benefits sufficient to justify the investment?

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(b) Are the actual benefits from previous investments in line with the business case?
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(e) Does the organization have the capability and resources to monitor benefits
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2.4.3 Direct

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The governing body should direct the establishment of a system for control and oversight of

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benefits that is appropriate to the size and number of the investments being undertaken and

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(a) A benefits management framework to ensure consistency in how benefits are defined

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(b) Clearly defined policies, processes, responsibilities and accountabilities for

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(c) Agreed criteria and mechanisms for sequencing the delivery of investments to

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The governing body should direct appropriate managers to deliver the benefits throughout

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2.4.4 Monitor
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The governing body and those with delegated responsibilities for benefits realization for IT
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The benefits realization for IT enabled investments should be monitored against approved
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business cases. This includes monitoring progress, delivery, quality and risks across the
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portfolio of investments, and ensuring that reporting mechanisms highlight key issues and
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The performance of the processes for governance of benefits realization should be

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The key considerations of the monitoring task should include the following:
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(a) Revising planned benefits to ensure they are realistic with any significant deviation
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(b) Ensuring that new investments are not eroding benefits from earlier investments.
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(c) Identifying when benefits realization is hindered by resource constraints such as lack
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of or delays in availability of resources, particularly business resources such as staff

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and funding. This includes considering whether the right business resources are being
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(d) Determining whether business conditions and strategy have changed during the
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project, with original assumptions still valid and values still balancing the risk.
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S E C T I O N 3 A P P L I C A B I L I T Y O F

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P R I N C I P L E S F O R G O V E R N A N C E O F I T

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3.1 PRINCIPLES FOR GOOD GOVERNANCE OF IT

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ISO/IEC 38500 outlines six principles for good governance of IT. The principles are

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applicable to most organizations.

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This Section provides guidance on how these principles can be applied to benefits

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The principles express preferred behaviour to guide decision-making. The statement of each

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principle refers to what should happen; it does not prescribe how, when or by whom the

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principle would be implemented, as these aspects are dependent on the nature of the

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3.2 APPLICATION OF THE PRINCIPLES OF GOOD GOVERNANCE OF IT TO

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BENEFITS REALIZATION FOR IT ENABLED INVESTMENTS

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3.2.1.1 Principle statement

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Individuals and groups within the organization understand and accept their responsibilities
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in respect of both supply of, and demand for, IT. Those with responsibility for actions also
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have the authority to perform those actions.

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3.2.1.2 Application to benefits realization for IT enabled investments

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The responsibility for the realization of value from IT enabled investments is defined in
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terms of understood and accepted roles for the governance and management of investments.
This encompasses all aspects, including investment prioritization and selection, and
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oversight and management of investment activities, including business change and

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realization of benefits.
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The following list describes desirable behaviours in terms of Principle 1:

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(a) Selection Decisions regarding investment selection and prioritization are made by
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appropriate personnel using benefits as key criteria and taking into account impact on
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benefit profiles of previously approved investments.

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(b) Delegation There is a delegated, competent, committed and empowered benefit

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owner for each investment, responsible for the realization of benefits.

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(c) Decision-making The responsibility for investment decision-making rests with

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governing body, and authority may be delegated to those best placed to exercise it.
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(d) Information Benefits information is provided in a timely manner at least on a

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quarterly basis. A centrally managed benefits management framework is used to

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define and track realization of benefits providing appropriate planned vs forecast vs

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actual benefits information from a change investment.

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(e) Responsiveness Those responsible for oversight ensure that issues and decisions can
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be escalated and resolved in a timely manner.

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(f) Transparency Decisions, and the rationale behind decisions, are communicated to
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stakeholders in a timely and comprehensive manner.

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3.2.2 Principle 2—Strategy

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3.2.2.1 Principle statement

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The organization’s business strategy includes the current and future capabilities of IT, and

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the strategic plans for IT to satisfy the current and ongoing needs of the organization’s

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business strategy.

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3.2.2.2 Application to benefits realization for IT enabled investments

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Benefits realized from IT enabled investments support and deliver the organization’s

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3.2.4.2 Application to benefits realization for IT enabled investments

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The following list describes desirable behaviours in terms of Principle 6:

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Guidance on project management

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(Informative)
APPENDIX A

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BIBLIOGRAPHY

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APMG-International 2012 Managing Benefits, Steve Jenner

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Project, programme and portfolio management—Guidance on portfolio

01 -03 Aust
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Standards Australia

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Standards Australia is an independent company, limited by guarantee, which prepares and publishes

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Standards New Zealand
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The first national Standards organization was created in New Zealand in 1932. The Standards
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Australian/New Zealand Standards

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Australian/New Zealand Standards are prepared by committees of experts from industry,

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International Involvement
29
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Standards Australia and Standards New Zealand are responsible for ensuring that the Australian
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members of ISO (the International Organization for Standardization) and IEC (the International
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Electrotechnical Commission).
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Visit our web sites

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Phone 13 12 42
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GPO Box 476 Sydney NSW 2001

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