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Workshop Description

 

How to Perform a Cost-Benefit Analysis

Overview/Description
  
Everyone makes choices. In their daily work, technical professionals and business analysts routinely consider different means to improve performance and results. Sometimes, the “means” are alternative project approaches; sometimes, the means are acquisition of competing products or services. The challenge is always to answer the question: “Which choice is best?”  The cost-benefit analysis reveals the answer.

Today’s decision-makers demand hard facts before they approve a project or authorize an acquisition. Cost-benefit analysis (CBA) is the technique business-savvy IT organizations use to identify the “best” choice. A credible CBA provides hard facts that answer three fundamental questions:

  1. What must we accomplish to succeed?
  2. What are the pros & cons of the viable choices?
  3. Which choice is "best"?

IT professionals and business analysts are expected to deliver the answers in the form of a cost-benefit analysis. The challenge for most is that they don’t have an easy-to-follow procedure to guide their analysis and presentation.

Learn the basics in plain English.

Target Audience
  
Our workshop participants are busy technical and business professionals who are expected to use and present credible cost-benefit analyses to make and defend their choices.

Professionals in commercial or government organizations who propose and make project and acquisition decisions. This is for people who:

  • Perform all or part of a cost-benefit analysis
  • Review CBA’s prepared by others
  • Use CBA information to do their job

Learning Objectives & Take-Aways
  
This workshop is practical rather then theoretical. Participants learn “what to do” and “how to do it” step-by-step. Every participant will be able to develop facts:

  • Objective – Accomplish what?
  • Benefits & Costs – What do we “get” and at what cost?
  • Risk & ROI – What are the impediments to “success” and what’t the return?

Every participant receives an 80-page session workbook. The class workbook includes: step-by-step CBA preparation instructions, more than 25 useful writing and data table templates, and three major illustrative examples.

Prerequisites
  
There are no prerequisites for this workshop.

Participants often ask several important questions about prerequisites during the workshop. Here are three:

1. Do I need to know accounting or finance?
No. Accounting or finance knowledge is not required for this workshop. When budget-related topics are discussed (e.g., “ownership cost”), the material is presented and explained in plain language that anyone can understand.

2. I’m a technical professional. What value is cost-benefit analysis to me?
Every professional must make a choice when deciding which action is “best”. The decision can be based upon facts or “gut” feeling. The cost-benefit analysis methodology gives anyone a tool to develop the facts they need to make the best choice. Yes, cost-benefit analysis is a valuable tool for technical professionals.

3. This is all new to me. Will this be over my head?
Very few people have formal cost-benefit analysis (CBA) training. Even if you have never seen a CBA, you will learn and apply the straightforward step-by-step technique taught in this class.

If you have other questions about prerequisites or aren’t sure if this workshop is for you, just ask. We will be pleased to answer any questions or concerns. Write to us at inquiries@RMS.net. One of our expert trainers will answer you. No sales person will contact you – we don’t have any!

Course Length
  
This is a two-day workshop.

RMS’ curriculum is designed to meet the needs of busy professionals. Learn what you need to know, when you need to know it.

More Information About the CBA Workshop
  
You are likely to have some questions about this workshop, e.g., “how much does it cost?” Click here to see answers to the following questions:

  • How much does this workshop cost?
  • Where is it delivered?
  • How is this different from other cost-benefit analysis courses?
  • Is this a basic or advanced workshop?
  • Information technology is emphasized – is this useful for other purposes?
  • How large are the classes?
  • How is the workshop presented?
  • We’re considering an in-house delivery, how can I get a cost quote?
  • We want the course at our location; but we don’t have enough people to fill a class. What are our options?
  • I’m not sure if this is right for me. Can I speak with an instructor?
  • How can I get a copy of the workshop syllabus?
  • Can I see some of the class media materials?
  • What is the workshop instructor’s experience?
  • Do government agencies use the CBA for project & acquisition decisions?

 

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