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Cost-benefit analysis is a process intended to determine whether the total expected benefits that will be produced as a result of implementing change outweigh the total expected cost involved.
Cost benefit analysis is usually carried out before any decision is made as to whether or not to go ahead with the project, and it will inform that decision. Fairly obviously, since the benefits of any undertaking cannot be realised until that undertaking has been completed and the deliverables are available for use, the costs of the project (which start to be incurred as soon as work on the project commences) will not be matched by an immediate return on investment. Discounted cash flow (DCF) analysis is a way of calculating the value of money flowing into and out of an organisation over time (the cash flows) based on the concept of its present value.
Where NPV is the net present value of the future cash flow, i is the interest rate (including any risk premium), and n is the time in years until the cash flow occurs (the unit of time used can be adjusted to reflect the time within which a return on investment is anticipated). This formula represents a relatively simplistic approach that assumes that the interest rate (including the risk premium) remains constant.
The calculations involved can be set up in any spreadsheet program in a few minutes, enabling a range of outcomes to be calculated by varying factors such as the value of i. Satisfaction measurement was one of my big things for a long time, when I was still working in market research. The authors then run through a sample report, which contains the typical representations of satisfaction scores, but they have 3 noteworthy ideas – (1) the satisfaction function, (2) performance x importance matrix, and (3) demanding x effectiveness matrix. Projects + Management = Project-Management is proudly powered by WordPressEntries (RSS) and Comments (RSS). 2015 Trends In Business Analysis And Project Management - Each year we like to reflect on what’s happened in the business analysis, project management, and Agile professions and make our predictions for the upcoming year.. KPCB Internet Trends 2014 - SlideShare - The latest edition of the annual Internet Trends report includes: 1. Project Management And Business Analysis Skills – CEG - Read these 7 reasons how combining project management and business analysis skills can increase your marketability..
Enterprise Big Data Analytics: 10 Prominent Trends To Look - SQL development for Hadoop enables business analysts to use their skills and SQL tools of choice for big data projects. Both the benefits and the costs are usually expressed in terms of financial values, and values may be adjusted to reflect the period of time over which the costs are incurred, or the benefits realised.
The process may take into account only the financial costs and expected benefits, or it may be extended to include an analysis of the more intangible costs and benefits.
A commercial director is deciding whether or not to invest in a new computer-based customer service system. Future cash flows are estimated and then discounted to give their net present values (NPVs).
The notion of discounted cash flow can be used to calculate how much value a project will add to the organisation over a given period of time.


I still believe in the managerial power of satisfaction measurements, although you might not want to do it every 8 weeks rolling.
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Whilst the monetary costs of an undertaking are usually relatively easy to determine in terms of materials, capital expenditure, overheads and the estimated cost of labour, the financial value of the benefits is often more difficult to quantify. Either way, because of the complex issues that are usually involved, the degree of uncertainty over the actual costs that will be incurred, and the real value of any perceived benefits, the process can at best only provide approximate figures.
The sales department currently has only a handful of computers, and the customer service operatives are not especially computer literate, but he can see the potential value of being able to reach a significantly larger number of customers and provide more efficient customer services, and feels that the new system would enable this to happen. The discount rate used varies, but one commonly used method of discounting is to calculate how much money would have to be invested in the present at a given rate of rate of return in order to achieve the cash flow in the future.
In a typical project scenario, the cash flows are likely to be negative until some point after the project is completed. If the net present value at some pre-determined future date is greater than zero, then the project has added value to the organisation. Well, that’s another story and one of these projects where a lot of data is gathered for no specific decision-making purpose and therefore the data only sees limited use. First of all they give a short overview (for all the non-knowing) into the chain of actions at the EU. The five stakeholders are – policy making bodies, programme management authority, financial beneficiaries, project organisations, immediate beneficiaries. Cutting-off at the centroid on each axis they span a 2×2 matrix for importance (beta-weight) vs. Such a procedure would put more importance on very low and very high values, following the reasoning, that fixing something completely broken is a big deal, whereas perfecting the almost perfect (think choosing the right lipstick for Scarlett Johannson) is not such a wise way to spend your time and money (fans of Ms.
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The more tangible benefits of a venture could be manifested as a reduction in operating costs (for example, being able to maintain current output with fewer employees) or as an increase in income (for example, increasing output with no associated increase in labour costs due to improvements in process efficiency). The rate of return may be based on current interest rates plus a risk premium that reflects the risk that the future cash flow may not be forthcoming. If not, there will be no point (from a financial point of view at least) in continuing with the project.
The rational behind this thinking is, that a similar improvement leads to higher satisfaction at items with a higher beta-weight.


Project Manager 2014Gartner Special Briefing for ENI University“Why Should Anyone Be Led by a Project Manager?”. Less tangible benefits could take the form of greater flexibility, enabling the organisation to adapt more quickly to a volatile business environment or take advantage of new technologies to market its products and services. Nevertheless, it is a necessary process if the decision on whether to proceed or not is to be an informed one, and should at least identify significant cost drivers and potential benefits.
Many organisations take the payback period into account when making a decision on whether or not to proceed with a project. It can be seen from these figures that (providing the estimates are accurate, of course) the system would pay for itself within the first year of operation - within the first eight months, in fact. The example given is a relatively simple one and has been used in order to demonstrate the basic principles. Programmes consists of several main lines of actions called axis, which are also understood as strategic priorities. If the required return on investment will take too long to achieve, the decision may be to shelve the project. In reality such calculations can be affected by a great number of variables, but it is beyond the scope of these pages to consider the implications of this any further. The axis are further subdevided into measures, which are groups of similar projects or sub-programmes. Complicating the equation is the fact that the real value of a sum of money earned at some future point in time will be less than its value in the present thanks to inflation, and the fact that the money has not been working for the organisation (e.g. Bear in mind also that even if the calculations result in an unfavourable outcome from a purely monetary point of view, the project may still have long term intangible benefits that cannot be measured in purely financial terms. The measures itself contain the single projects, where the real actions take place and outputs, results, and impact is achieved. Reasoning behind this is to identify the actions with a great marginal contribution to overall satisfaction and only little effort needed.
There could be serious negative consequences as a result of not going ahead with a project.




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project analysis and management course outline



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