The costs of acquiring computer hardware, software and specialists. Select the best fit for this answer
The costs of acquiring computer hardware, software and specialists. Select the best fit for this answer
The correct option is A Cost/benefit analysis
The costs of acquiring computer hardware, software
and specialists. Cost/benefit analysis is the best fit for this answer
Cost–benefit analysis (CBA), sometimes called
benefit costs analysis (BCA), is a systematic approach to estimating the
strengths and weaknesses of alternatives (for example in transactions,
activities, functional business requirements); it is used to determine options
that provide the best approach to achieve benefits while preserving savings It
may be used to compare potential (or completed) courses of actions; or estimate
(or evaluate) the value against costs of a single decision, project, or policy.
Common areas of application include commercial transactions, functional
business decisions, policy decisions (especially government policy), or project
investments.
Cost–benefit analysis is often used by
organizations to appraise the desirability of a given policy. It is an analysis
of the expected balance of benefits and costs, including an account of any
alternatives and of the status quo. CBA helps predict whether the benefits of a
policy outweigh its costs, and by how much, relative to other alternatives.
This allows for ranking of alternate policies in terms of cost–benefit ratio.
Generally, accurate cost–benefit analysis identifies choices that increase welfare
from a utilitarian perspective. Assuming an accurate CBA, changing the status
quo by implementing the alternative with the lowest cost–benefit ratio can
improve Pareto efficiency.
The costs of acquiring computer hardware, software and specialists. Cost/benefit analysis is the best fit for this answer
Cost–benefit analysis (CBA), sometimes called benefit costs analysis (BCA), is a systematic approach to estimating the strengths and weaknesses of alternatives (for example in transactions, activities, functional business requirements); it is used to determine options that provide the best approach to achieve benefits while preserving savings It may be used to compare potential (or completed) courses of actions; or estimate (or evaluate) the value against costs of a single decision, project, or policy. Common areas of application include commercial transactions, functional business decisions, policy decisions (especially government policy), or project investments.
Cost–benefit analysis is often used by organizations to appraise the desirability of a given policy. It is an analysis of the expected balance of benefits and costs, including an account of any alternatives and of the status quo. CBA helps predict whether the benefits of a policy outweigh its costs, and by how much, relative to other alternatives. This allows for ranking of alternate policies in terms of cost–benefit ratio. Generally, accurate cost–benefit analysis identifies choices that increase welfare from a utilitarian perspective. Assuming an accurate CBA, changing the status quo by implementing the alternative with the lowest cost–benefit ratio can improve Pareto efficiency.
