In project management, making informed and efficient decisions is

crucial for success. One tool that has proven indispensable in this

process is Cost-Benefit Analysis (CBA). It is a structured technique

that helps us understand the pros and cons of different choices that

meet the demands of a particular project.



It's a method that helps project managers and stakeholders understand

if a project is viable, profitable, and worth the investment. This

article will focus on CBA, its role in project management, and how it

can be harnessed to make better, more cost-effective project

decisions.



WHAT IS COST-BENEFIT ANALYSIS?



Cost-benefit analysis (CBA) is a financial tool businesses and

organizations use to evaluate the feasibility of a decision or course

of action. It involves estimating the total expected cost of a project

and comparing it with the anticipated benefits.



The purpose of CBA is to determine if the benefits outweigh the costs

and by how much, providing an indicator of the project's ...