Benefits will be estimated at the start of the project to justify going ahead; the estimate will be refined during the project; and the final benefits will be estimated at the end of the project. Benefits can be tangible (hard) (e.g. as money saved, full-time equivalents saved, capital expenditure avoided) and intangible (soft) (e.g. improved morale, improved team-work). Benefits may be one-off (e.g. capital avoidance) or ongoing (e.g. FTE saving, reduced operating costs).
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