GEOG 583
Geospatial System Analysis and Design

Cost Benefit Analysis

Cost Benefit Analysis

A cost benefit analysis should show the total monetary costs of each component of the design, as well as the monetary benefits the design would provide over either not having the design and/or in comparison to another design that currently exists.

The goal of your geospatial project proposal is to “pitch” it to a stakeholder to request approval to move forward on it development and, hopefully, request and gain funding for the project. The stakeholders will be very interested to know how much the design will cost them. By providing specific details and explanation on the costs of the system, you’re also proving your understanding and knowledge of the system, therefore “proving” to the stakeholder that you are capability of managing the project and the design.

Therefore, the cost benefit analysis is a very important component of your project. Read Babinski, 2012 for an example on how to construct a cost benefit table.


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