Cost-Benefit Analysis
A process by which business decisions are analyzed to understand their costs and benefits.
Business Glossary provided by Plannit.ai
Cost-benefit analysis is a systematic approach to estimating the strengths and weaknesses of alternatives used to determine options that provide the best approach to achieve benefits while preserving savings. It is used to evaluate the total anticipated cost of a project compared to the total expected benefits in order to determine whether the proposed initiative is worthwhile for a company or project team.
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