We are the ITdt development team
and we are involved in the precise definition of your Cost Analysis as part of our discovery phase projects. By fine-tuning the potential audience of your business, we are able to minimise the resources spent on advertising and organisational activities, as well as to optimise all the processes of your business.
What is Cost benefit Analysis?
The main purpose of Cost Benefit Analysis is to provide a systematic pathway on how to identify the advantages and disadvantages of multiple pathways for project implementation that includes, financing, business specification and business transactions etc. This phenomenon gives you an alternative, while also providing you opportunity to meet expectations while you cut cost.
Money is obviously key. If you want a successfully executed it solution. The Discovery Phase effectively allows you to minimize cost and still maintain quality. The main idea of Cost analysis is that it helps to draw comparison between cost and benefits. This process allows managers to make cost-effective decisions in order to increase revenue
2 Examples
of Cost benefits analysis.
Cost.
- Direct cost; this includes cost that are directly connected to the execution of the IT solution
- Cost of potential risk; as we all know every IT project is subject to potential risk, this expenses that are unforeseen.
Benefits.
- Direct benefits; this includes benefit received from the project such as sales, revenue or profits.
- Indirect benefits; this includes benefits that you can only perceive, they include brand awareness, recommendation etc