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Why a Benefits Maximisation Approach is Key to Digital Project Development


Why a Benefits Maximisation Approach is Key to Digital Project Development

There are hundreds of new digital projects and initiatives being started each week across the UK, but not all will reach the finish line and deliver what is hoped for. So what are the main reasons that so many projects fail? We spoke to Matthew Izatt-Lowry, Senior Economist, maximising benefits and how to ensure that projects deliver desired outcomes.

"Often, the key reason for this is that objectives and expected outcomes are not clearly defined and understood at the beginning of the process."

"Many of these projects could have demonstrated significant measurable impact if benefits were considered at all stages of project design and delivery", says Matthew.

Image of Matthew

Photo: Matthew Izatt-Lawry

"When I speak to clients, my advice and guidance is always this - put maximising the deliverable impact and benefits at the heart of your project. And therefore, at FarrPoint, our approach to developing projects and programmes is unlike many other consultancy firms. We ensure that we use our experience of the commercial, regulatory and policy considerations to ensure we help clients to design digital technology and connectivity infrastructure that can be delivered on the ground and that maximises the desired benefits’’.

“We ensure that this approach is based on evidence, therefore, we use robust proven approaches, including Economic Analysis to ensure that projects are developed and delivered in a way that maximises benefits to communities, businesses and the environment.”

Three core stages to benefits maximisation approach

Our economics team at FarrPoint uses an agile approach to ensure clients maximise impact and that is based around three core stages:

Economics team 3 core stages

“Our three-stage approach has been proven on a range of client projects. Having a clear understanding of the benefits a project should deliver, provides a sound basis for planning, delivering, and evaluating technology change. This is why we always recommend taking this approach to any digital project team out there”, Matthew added.

“Furthermore, this approach can be applied at any stage, even if you are already midway to your project and are questioning the benefits it will deliver, we can provide guidance on your existing project and help bring it back on track".

Find out more

At FarrPoint, we look for ways to help our clients with maximising the impact of their projects and can help them at any stage of this benefits process, or from beginning to end. If you’d like to find out more about FarrPoint’s services, please get in touch or view our economic analysis services page.

Find out more

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