#💡 # cost benefit analysis ![[calendar-plus.svg]] <small>Sep 02, 2022</small> | ![[calendar-clock.svg]] <small>Jan 02, 2023</small> 🏷️ [[Project Management MOC]] Process of adding up the expected value of a project - the benefits - and comparing them to the dollar costs to determine the [[ROI]]. Work with stakeholders to determine: ### 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 be saved? - How will the user experience be improved? - Consider intangible benefits: - Will it increase customer retention? - Will it improve employee morale and reduce turnover? - Will it reduce employee's overtime hours? - Will it improve the company's brand perception and recognition? ### Costs - How much time will people have to spend on this project? - What will be the one-time costs? - Are there any ongoing costs? - What about long-term costs? - Consider intangible costs: - Will it hurt customer retention? - Will it reduce employee morale and lead to increased turnover? - Will it reduce employee productivity? - Will it harm the company's brand perception? ## Sources [[Project Initiation - Starting a Successful Project]]