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Use a cost-benefit analysis to learn the truth
An correctly prepared cost benefit analysis provides you with the knowledge you need to make more educated decisions.
When was the last time you made a choice based on a ‘gut feeling’ or a ‘hunch’?
How did that decision go?
Gathering as much data as possible before making any major decision is the greatest thing you can do. A Cost Benefit Analysis can help you make the best decision possible.
Can you really afford to make critical decisions on the spur of the moment?
Provides greater assurance
Important decisions should never be made on a whim. This is even more important when these decisions are monetary decisions that effect the performance and 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 significantly reduce the risk between failure and success.
3 valuable advantages of using a Cost Benefit Analysis
1. 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. Make the best decision possible
Know that you have made the best decision with the information you have.
3. Identify if it is worth of your time
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.
Huge time saver template
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.
The following images are the first 4 pages of this Cost Benefit Analysis Template.
Title Page
The following page is the title page. You can easily customize this to suit your business.
Cost Benefit Analysis Template | Title Page
Table of Contents
The Table of Contents are fully automated in Microsoft Word. 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.
Cost Benefit Analysis Template | Table of Contents
Introduction
Review the introduction page below. This includes a project purpose, project background scope and overview.
Cost Benefit Analysis Template | Introduction
Management Summary
This section includes sections for assumptions and constraints, methodology evaluation criteria and recommendations.
Cost Benefit Analysis Template | Costs
Costs
The costs sections allows space for costs associated with establishing a cost benefit.
Cost Benefit Analysis Template | Costs
This is a detailed document that includes tables for:
Tangible benefits
Development costs (Non-recurring)
Recurring costs
and more.
Cost Benefit Analysis Template | MS Word Snapshot
Free Bonus Case Study Template
When you purchase the Cost Benefit Analysis Template we also include the Case Study Template free.
Case Study Template | MS Word Snapshot
Total Inclusions
Cost Benefit Analysis Template Microsoft Word .docx Pages 12 Word Count 550
Case Study Template Microsoft Word .docx Page Count 14 Word Count 1464
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Don’t make an educated estimate. Make educated judgements by using a Cost Benefit Analysis.
Regards,
David
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