April 17, 2023

The Benefits of a Cost-Benefit Analysis

 means that the projected benefits of a proposed system outweigh the estimated costs

A bafflingly complex process that may be accomplished by a team of experts using a proprietary methodology, a cost-benefit analysis is a laudable attempt at data mining and distilling a company's business objectives into actionable items. It can be a bit of a pain in the butt for a small company, but it's well worth the effort. Often used in conjunction with other decision-making echelons, such as project managers and C-suite execs, a well executed cost-benefit analysis can reveal hidden gems and improve an organization's bottom line. Whether you're putting your best foot forward, deciding which projects to implement, or simply trying to get the big picture in your head, a feisty cost-benefit analysis can help you make the right decisions and avoid costly mistakes.


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