I/S Resource Group: Benefit/Cost Analysis, Training, Project, Project Management, PMBOK, PMBOK Guide, Cost/Benefit Analysis, Estimating Business Benefits, Quantifying Benefits, Hard-to-Quantify Benefits, Less-Tangible Benefits, Estimating Costs, Estimating Life, Break Even Time, Presenting Benefit/Cost Results, Project Return Map, Opportunity Cost, Balanced Scorecard, Resource Planning, Resource Scheduling, Monitoring Portfolio Priority

Benefit/Cost Analysis

Overview
(1/2 - 1 Day)

This module presents a method for evaluating the costs and benefits of a proposed project. The content covers timing of Benefit/Cost Analysis*, appropriate participants, cost factors, benefits, and ways to present the results. A special topic covers ways to value benefits that you labeled “intangible” in the past.

Learning Objectives

Describe the purposes of Benefit/Cost Analysis, and a process for developing reliable measures.
Identify the most-important timing and participants of Benefit/Cost Analysis.
Describe the range of costs that you must consider and quantify for a project.
Identify the different types of benefits a team should evaluate, and describe ways to quantify those benefits, even when you consider them to be “less tangible”.
Describe alternative ways to present the results of Benefit/Cost Analysis, including graphic methods
Discuss the need for and the responsibilities for following up on a Benefit/Cost Analysis to verify the benefits were received.

Audience

Those who are (or should be) involved in identifying the costs and benefits of project efforts, and performing initial and follow-up Benefit/Cost Analysis:

Executives
Resource Managers
Functional Managers
Project Customers
Project Office Managers
Program or Project Managers
Team Members

* Formerly called Cost/Benefit Analysis; we’ve changed the name to reflect current terminology.

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