Cost-Benefit Analysis

A cost-benefit analysis evaluates a workplace practice by giving each benefit and cost associated with it a weight (usually a dollar figure). It’s a good tool for deciding between two or more practices or for evaluating the impact of a change. It’s particularly useful within complex organizations because many factors can be quantified and compared, because it brings to light factors that decision-makers may not be aware of and because it gives your team an opportunity to reflect on what is important within your organization.