Sample Essay On Benefits Realization

Benefit Realization

In the wake of the economic knowledge and businesses seeking measure to cut down on losses and expenditure, it is paramount that the ultimate benefit is considered during the design stage of a project. The benefits realization approach embraces information technology (IT) aspects to improve efficiency and gain competitive advantage in an industry. This paper seeks to expound on reasons as to why benefits realization concept is important.
Businesses are a going concern and therefore continuous improvement is vital to achieving the set objectives (Thorn, 2003). This aspect of business is congruent with the company approach since it is also continuous business process and their improvement. It focuses primarily on implementation, results and assists in changing viable business options to desire or target results. Therefore, the approach remains a relevant aspect in business for improved results.
In a dynamic business environment, a company is faced with stiff and often cut-throat competition. In this regards, benefits to a business are developed over time as an enterprise realizes and encourages a realization approach in formulating its current and plans. It is paramount to note that the company recognition approach cuts across all the functions of a business and not in IT only.
Under normal business environment, realizations of business benefits do not happen as expected by the company. As such, it is primary that forecasts are done early to facilitate business activities support. Through the use of the business realization concept, changes are tracked and corrective measures adopted in a timely manner. It helps a company avert any misfortunes as a result of unsystematic risks.
Business realization approach is a valuable business tool that assists companies in ensuring continuous improvement in time and sound management, of enterprise and market, expectations.

References

Thorp, J., & Fujitsu Consulting. (2003). The information paradox: Realizing the business benefits of information technology. Toronto: McGraw-Hill Ryerson.