What are the best practices in cost-benefit analysis?
An example of an AI chatbot conversation about best practices in cost-benefit analysis.
What are the best practices in cost-benefit analysis?
Best practices in cost-benefit analysis include clearly defining objectives, identifying all costs and benefits, and using a consistent time frame.
How do I identify all costs and benefits?
You can identify costs and benefits by conducting stakeholder interviews, reviewing historical data, and considering both direct and indirect impacts.
What tools can I use for cost-benefit analysis?
Common tools include Excel for calculations, specialized software like CBA tools, and decision-making frameworks like SWOT analysis.
Can you give an example of a cost-benefit analysis?
Sure! For instance, a city considering a new park would weigh the costs of land and maintenance against benefits like increased property values and community health.
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