Templates and Benchmarks

Background

Benchmarks can be used if you are searching for a suggested starting point for a benefit i.e. if the sponsor is not comfortable with their ability to make a credible estimate. The concept is similar to using an existing Business Case but usually contains average values and improvement suggestions.

Benchmark data could include information such as:

• Suggested percentage improvements
• Typical loaded labor costs for a job function
• Complete Evaluator inputs and outputs together with notes to support the data

When using benchmark data, make sure that the Prospect understands that the data is only a suggestion based on typical situations. Invariably, the Prospect will want to challenge and modify according to their particular circumstances.

Developing and Managing Benchmarks

Benchmark data can change with market conditions and product introductions so keeping it current is generally something that should be managed centrally, often by the Marketing Department, so the whole user community has access to it and is using the latest iteration. Typically, a nominated ‘business value’ expert would be best placed to co-ordinate and maintain the data.

Inputs to benchmark files could come from:

• users who have first-hand knowledge of sponsored benefits
• market research organisations
• post-sales experience from customers

Loading and Using a Benchmark Template file

Benchmark and Template files are created in the same manner as a normal Business Case session. If benchmark data is available the value is entered into the relevant input field. This is repeated for as many Evaluators, Costs etc. as required for a benchmark category e.g. ‘average loaded cost for the retail sector’. Check your Shark Home page for benchmark templates that have been created for you and load these as you would a normal Business Case Session. These can be added to and customized to your current Prospect’s requirements.