Industrial companies face significant challenges when they engage in the implementation of Product Lifecycle Management. Research has shown that organizations have difficulties in defining concrete and measurable goals and relating enabling technology to business benefits. Moreover, implementation service providers rely heavily on tacit knowledge when it comes to operational details. This paper proposes a conceptual framework as a methodology for implementation teams. It allows teams to reuse implementation knowledge on a detailed level, related to contribution to benefits and business goals. The methodology is derived from emerging, set-based product and process development methodologies and also from benefit management strategies for information systems. The goal of this methodology is to increase the probability that Product Lifecycle Management implementation contributes to the business benefits of organizations and therefore lower the economic risks. The paper describes the method and the result of two explorative case studies.