BUS-470-RS-CostBenefitAnalysis-SolutionEvaluation.xlsx

Definitions:

Payback period – the period of time, expressed in months, that a project requires to recover the money invested in it (including the one-time savings which are often excluded by some calculators)

Benefit-cost ratio – an indicator that is often used to decide whether the benefits of a given project or solution outweigh the actual costs (the higher the ratio the better the investment)

Analysis horizon – the number of months the project is expected to be utilized before replacement or major upgrade

Implementation costs include capital costs (equipment, constructions, etc.), training, travel, outside professionals, lost of productivity during implementation & training, implementation costs such as installation, etc.

Ongoing costs include maintenance costs (monthly costs relating to the ongoing maintenance) and operational cost (internal labor, expendables, materials, supplies, etc.)

Hard savings – the direct benefits that affect the bottom line and can directly improve the financial performance of the organization (examples are: sales/price increase, cost reduction and productivity savings)

Soft savings – the indirect benefits which are difficult measure (they are mainly improved yield of a business process, the increased stakeholder satisfaction and the increased safety in the workplace)

One-time savings – examples are value of inventory reduction and sale of unneeded assets

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