What is Cost-Benefit Analysis?
Cost-benefit analysis is a useful method to measure the costs associated with a specific program, project, or benefit in order to determine if the action is cost-effective of resources or not.
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What is a cost-benefit analysis : Definition
Cost-benefit analysis is a useful method to measure the costs associated with a specific program, project, or benefit.
When should you use a cost-benefit analysis?
It is used in order to determine if the proposed action is cost-effective of resources or not. Cost-benefit analysis is typically used for decisions that are not mission-critical.
Evaluating the cost-benefit analysis
The results of cost-benefit analysis are presented as a Payback period, which is the time it takes for the value of the benefits to outweigh the costs.