Question

Which steps are part of doing a cost-benefit analysis? Select three options. Predicting costs identifying outcomes comparing costs calculating costs delaying decisions.

Answer 1

There are several steps in a cost-benefit analysis including:

• Identifying outcomes
• Comparing costs
• Calculating costs

A cost benefit analysis allows one to weigh the benefits of an opportunity against its costs to see if the opportunity is worth it. It involves identifying the outcomes of the opportunity such as a success or failure.

One also has to calculate the various costs based on outcomes and then compare these costs to determine the best path forward.

In conclusion, a cost-benefit analysis has one identifying outcomes and calculating and comparing costs.

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