Delivering Public Value through Active Benefits Management
Public sector organizations at all levels face the challenge of delivering public value from the investment decisions taken to deliver government policies.
Every decision to allocate government funds, whether through grants allocation or through developing infrastructure to improve service delivery, is intended to result in benefits that ultimately impact the Australian public. These could be through the delivery of improved services or even a financial return to the government. Benefits may be realized through increased efficiency and higher productivity or from increased revenue connected to licensing, registration or other services provided by the public sector.
Leaders who understand the importance of managing benefits, rather than simply hoping they will be delivered, are better positioned to achieve the intended return on investment from funding decisions.
By using an investment management framework, organizations can better describe and quantify the intended benefits that will deliver public value. This lowers project implementation costs, improves benefit tracking and reporting, and supports ‘in flight’ adjustments that make it more likely benefits will be realized.
Active benefits management means that leaders (and teams) understand their responsibilities for delivering benefits and can work systematically towards delivering them. Clear accountability is an important feature of active benefits management, empowering staff and organizations to deliver public good.
Noetic’s experienced team can support you to manage benefits more effectively through a Signature Solution that is tailored to your policy and organizational environment.