Analysing benefits realisation from a theoretical perspective and its contribution to value generation

The benefits realisation approach emerged in the beginning of the 1990's, in the information systems and technology sector, focusing the management of projects on the delivery of business benefits. The approach intends to bring a greater awareness of project benefits to stakeholder, as well as the means to achieve and maximise benefits. Such approach is currently being explored in the construction sector, especially for managing healthcare projects. However, the literature on benefits realisation is mainly dedicated to the practical aspects of its implementation and little has been discussed about the theoretical foundations of this approach. Thus, the purpose of this article is to explore benefits realisation from a theoretical perspective and highlight its potential contribution for project management, specifically for further developing value generation concept in construction projects. This was pursued through a literature review on benefits realisation, to understand its principles and the search for theories that could further explain them. The paper describes concepts originated from three different scientific fields, namely production science, social science and systems thinking, which were found to be aligned with the core guidelines of benefits realisation. As a result, a theoretical discussion of the benefit realisation approach is presented, as well as its potential contribution to further developments of value generation concept. How the theory will be tested with experimental data is also indicated at the end of the paper.