What is a cost-benefit analysis for software development?

What is a cost-benefit analysis for software development?

A cost-benefit analysis for software development is a systematic approach to evaluating the financial implications of a project. It compares the expected costs of the project against the anticipated benefits to determine if it's a worthwhile investment.

What factors should I consider in this analysis?

You should consider factors like development costs, maintenance costs, potential revenue, time savings, and the impact on user satisfaction.

Can you give me an example of a cost-benefit analysis?

Sure! For instance, if developing a new feature costs $50,000 but is expected to generate $100,000 in additional revenue, the analysis would show a positive return on investment.

How do I present this analysis to stakeholders?

Present the analysis using clear visuals like charts and graphs, summarize key points, and focus on how the benefits align with the stakeholders' goals.