Can you afford to guess important decisions?
Use a Cost Benefit Analysis and get the facts
Cost Benefit Analysis Template
Dear Business Owner,
An accurately produced cost benefit analysis allows you to get accurate answers that then allow you to make informed decisions. When was the last time you made a decision based on a ‘hunch’ or a ‘gut feel’. How did that decision go?
The best thing you can do for any major decision is get as many of the facts as you can. This then allows you to make a decision that will be based on fact instead of just based on a ‘hunch’. Potentially, this could let you sleep much better at night.
3 Advantages of Using a Cost Benefit Analysis to Make Important Decisions
Making important decisions shouldn’t just be a ‘stab in the dark’. This is certainly important when these decisions are monetary decisions that effect the profitability of your company.
Creating a Cost Benefit Analysis is the key to making the ‘right’ decision. Yes, you may not be able to know absolutely everything, and yes, things may go wrong, however, making an educated decision is going to make a huge difference to success.
Here are 3 advantages of using a Cost Benefit Analysis
1. You will eliminate the majority of unknowns
The things that you don’t know are the things that potentially could upset what you are trying to achieve. Planning for these things allows you to eliminate them upfront.
2. You will certainly sleep better at night
Know that you have made the best decision with the information you have.
3. It will identify if it is worth it
The number crunching exercise will clearly identify the cost benefit to you and you will see if the whole exercise is actually going to be worth the effort.
Use a Template and Save Time and Money
Using a Cost Benefit Analysis Template is going to allow you to save considerable time and effort. You will be able to concentrate on the actual project instead of trying to create the actual document.
Using a template is certainly a great way to save time. Check out the following Cost Benefit Analysis Template below.
Take a Look at the Detailed Contents
The following images are the first 4 pages of this Cost Benefit Analysis Template.
The following page is the title page.
The Table of Contents are fully automated in MS Word.
This means you can go into the body of the document, add a section and then come back and update the table of contents. This saves tons of time.
Review the introduction page below. This includes a project purpose, project background scope and overview.
This section includes sections for assumptions and constraints, methodology evaluation criteria and recommendations.
The costs sections allows space for costs associated with establishing a cost benefit.
This is a detailed document that includes tables for:
– Tangible Benefits
– Development Costs (Non-recurring)
– Recurring Costs.
5 Advantages of Using this Template
There are many advantages to using a template to complete your Cost Benefit Analysis.
1. You will save time
Time to spend with the family or time to relax away from work. If you need more time, utilizing a template will save you significant time.
2. The document is already formatted
There is no need to have to waste time setting up a document from scratch. This template is formatted and ready to go. All you need to do is customize it to suit your needs.
3. The template comes with a fully automated Table of Contents
This in itself saves significant time, reduces errors dramatically and is so easy to use.
4. You won’t have to think about your proposal structure
Why reinvent the wheel? Use a template that is straight to the point and professional.
5. You will look professional
You will present yourself and organization professionally.
What is Included?
MS Word .docx
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Using templates saves a huge amount of time.
All the best with your business.
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