Management and Program Analysis: Cost Benefit Analysis
Who Should Attend
This course was designed for Federal employees, active duty military and contractors, including management, program, budget and systems analysts or assistants, project directors, project team leaders, IT managers, administrative staff, other staff members responsible for process management, business analysis, strategy, and collecting and analyzing data, or others interested in the management and program analysis series.
Suggested Prerequisite: Students should take Management and Program Analysis (343 Series): An Introduction or be familiar with the concepts and principles covered in that course.
Do you ever have to make or help others make a decision based on how much something costs? Are you responsible for making purchases, manpower (FTE’s), space management, or scheduling travel for your organization? Then, this is the course for you! Federal agencies are constrained by limited resources. To that end, numerous decisions rest on the cost versus the benefit of a proposed purchase, policy, action, change, or initiative. More often than not, trade-offs must occur for change to happen. This practical, hands-on course covers the basic components of cost-benefit analysis and will enable you to determine if a project is worthwhile financially, by evaluating a project's benefit versus its cost.
- Learn how cost benefit analysis applies to the work you do every day
- Determine which choice is “best”
- Identify the pros and cons of different choices
- Learn how to present and defend cost benefit analysis
- Review cost benefit analysis prepared by others
- Understand the structure, elements, and content of a business case
- Value and quantify financial and non-financial benefits and costs
- Calculate estimates through forecasting
- Understand the time-value of money through present value, return on investment (ROI), and break-even analysis
- Utilize decision making strategies, tables, and decision trees
- Learn how to address and account for uncertainty