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How and why to do a cost-benefit analysis

The other day I came across an interesting article on the reasons why you should do a cost-benefit analysis. The article provides an example scenario and shows you how to run the numbers when doing this type of assessment.

Author F. John Reh explains, that the cost-benefit analysis need not apply only to financial situations, but rather to any decision that involves some sort of capital outlay:
"Although a cost benefit analysis is most commonly done on financial questions it can be used for almost anything. Not sure whether that proposed marketing campaign is a good idea? Do a cost benefit analysis. Worried about which health care plan to select for your employees? Do a cost benefit analysis. Should we outsource our call center to India, Jamaica, or Canada? Do a cost benefit analysis."
Read the full article here.

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