Cost Benefit Analysis Example

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Weigh your options with our cost benefit analysis example

Whether you’re leading your team to launch or pursuing a personal passion project, FigJam’s strategic planning templates help you settle on the next step forward for maximum benefits—at no cost.

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Tip the scales in your favor when you gather team insights on our free interactive template.

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Calibrate and calculate

Create a framework for distilling the data, add in the numbers, and find your next step forward with a cost-effectiveness analysis.

Bring on the numbers: Arrive at an objective understanding of the next steps when you arrange data on the opportunity cost and benefits into a clear visualization.

Identify hidden costs: Make an informed decision and avoid unexpected obstacles when you list all the costs from the get-go.

Play to your strengths: Create the most value when you choose strategies that optimize for benefits.

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four colorful squares each labeled Low/High and the words Reward and Effort next to it

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Take a load off everyone’s shoulders

Don’t let an important decision weigh down your team—share the load. Consider trade-offs together with our Table widget, plot new strategies with our Badge feature, and provide instant feedback via Lil Notes. With FigJam, you can find all the benefits, fast.

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Stay in balance from project to project

Analyze direct costs and potential benefits to make informed decisions about where to step. Find your footing and plot out your path with templates from our Community.

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FAQs

A cost benefit analysis is a powerful tool for laying out the pros and cons of a project. These exercises are often used by business professionals and teams to determine the monetary value of an investment.

So what is the importance of cost-benefit analysis? Even a simple cost benefit analysis example provides valuable information about project scope, the intangible benefits or indirect benefits, unifies decision-making across the team, and ensures you’re using resources effectively.

Wondering how to do a cost benefit analysis? Gather around our editable cost benefit analysis template and find the most promising strategies together.

If you’re curious about how to evaluate the findings of a cost benefit analysis, or wondering how to present cost benefit analysis calculations to your team, begin by filling in an example of cost benefit analysis. Then, list the value and costs of the strategies, products, or projects that you’re considering. Based on the value your subjects provide and how much they will cost you, organize them into the following quadrants:

- Low effort, low reward

- Low effort, high reward

- High effort, low reward

- High effort, high reward

Once everything is arranged on the matrix according to their reward/effort, you’ll be able to quick calculations as to which ideas are worth pursuing for the best customer satisfaction and the best business decision.

No matter the complexity of your cost benefit analysis sample, the final step is always to compare the various options and decide on the next actionable step. As you do, remember to bring your team into the discussion. Your team's various skill sets and experiences will be crucial for identifying the trade-offs between strategies, revealing hidden or indirect costs like labor and time, and providing new insights into your decision.