Understanding and Applications of Cost Benefit Analysis
Topics Covered in Course
- Understanding how and when to leverage a CBA and on what types of scenarios
- Review of other strategic analysis models
- Measuring benefits and costs
- Ensuring accuracy
- Leveraging it within your organization
- Defined steps to implement within your organization
- Benefits and limitations of utilizing a CBA analysis
- Cost Benefit Steps and Template
- Cost Benefit Design Deliverable
Detailed Course Description
Cost-Benefit Analysis (CBA) is a systematic approach to estimating the strengths and weaknesses of alternatives that an organization is considering. It is a technique that is used to determine options that provide the best approach in terms of benefits outweighing costs. A CBA is also defined as a systematic process for calculating and comparing benefits and costs of a project, new or enhanced solution offering, or competitor initiative.
This online course will step you through how the costs and benefits of projects would be identified, calculated, and compared. Decisions are typically not made solely on the basis of CBA, but CBA is useful and sometimes required by law. Without a doubt, results from a CBA can be used to raise the level of debate surrounding a project.
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