The advantage here is that you can bundle all the factors and effects associated with an investment in just one database and thus not lose track. Especially with large projects, there are a large number of objective and subjective criteria that have very different effects on the CBA. A template helps you to keep an eye on all these aspects.
Benefit from a cost-benefit analysis. Image mexico rcs data rights: amazing studio / Adobe Stock
Where is a cost-benefit analysis used?
The larger a project , the larger its investment sum is usually. While the costs of an investment can usually be determined quite easily, the concrete benefits are much more difficult to identify. The reason for this is that neither the success nor the effect of a measure can be predicted or quantified with certainty in advance. In addition, the benefits of an investment are often subject to a subjective assessment by the decision-makers.
A CBA helps to clearly document all possible factors that affect a business decision and to evaluate them objectively and neutrally across departments. It is advantageous to use a database . If you create your cost-benefit analysis using a template, you enable everyone involved to work on the same basis. This way, no data is lost, important aspects are not overlooked and additional factors that other departments consider relevant can be easily added.