Cost-Benefit Analysis: A Lighting Tool in Decision-Making Processes

Having a solid foundation when making decisions is critical for businesses to achieve sustainable growth and success. This is where cost-benefit analysis comes into play. Cost-benefit analysis is a powerful tool that helps businesses make the best decision by systematically evaluating the costs and returns of a project or a strategy.

What is Cost-Benefit Analysis?

Cost-benefit analysis is an analytical process that evaluates the possible costs of a business or project and the benefits that can be derived in return. This analysis enables comparisons between alternative options and the business to choose the most effective and economically satisfactory one.