Cost-Benefit Analysis
Largely come from google-project-management.
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Resources
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To determine the benefits:
- What value will this project create?
- How much money could this project save our organization?
- How much money will it bring in from existing customers?
- How much time will it save?
- How will it improve the customer experience?
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To determine the costs:
- How much time will people have to spend on this project?
- What are the one-time costs?
- Are there any ongoing costs?
- What about long-term costs?
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Intangible benefits include:
- Customer satisfaction. Will the project increase customer retention, causing them to spend more on the company’s products or services?
- Employee satisfaction. Is the project likely to improve employee morale, reducing turnover?
- Employee productivity. Will the project reduce employee’s overtime hours, saving the company money?
- Brand perception. Is the project likely to improve the company’s brand perception and recognition, attracting more customers or providing a competitive advantage?
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Calculate the ROI