Reflection on Cost-Benefit analysis - Running Head COST-BENEFIT ANALYSIS 1 Reflection on Cost Benefit Analysis Student Institution Course Professor

Reflection on Cost-Benefit analysis - Running Head...

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Running Head: COST-BENEFIT ANALYSIS 1 Reflection on Cost- Benefit Analysis Student Institution Course Professor Date
COST-BENEFIT ANALYSIS 2 Reflection on Cost-Benefit Analysis From week six, we learned about Quality planning and Procurement management in project planning. From the readings, Cost-benefit analysis was listed as a quality planning technique. I feel Cost-benefit analysis is an essential technique in project planning worth further exploration. Cost-benefit analysis (CBA) can be defined as the systematic process involving enumeration, comparison, and evaluation of costs and benefits of a project (Boardman et al., 2017) . CBA compares the monetary value of the project benefits with total project costs to determine if it is worth the effort. It involves an evaluation of the project's advantages and disadvantages of the project and a vital determinant of the project course. Further, Cost-benefit analysis projects the series of benefits from the project with their definition. CBA is essential in

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