COSTS AND BENEFITS
\kˈɒsts and bˈɛnɪfˌɪts], \kˈɒsts and bˈɛnɪfˌɪts], \k_ˈɒ_s_t_s a_n_d b_ˈɛ_n_ɪ_f_ˌɪ_t_s]\
Definitions of COSTS AND BENEFITS
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A method of comparing the cost of a program with its expected benefits in dollars (or other currency). The benefit-to-cost ratio is a measure of total return expected per unit of money spent. This analysis generally excludes consideration of factors that are not measured ultimately in economic terms. Cost effectiveness compares alternative ways to achieve a specific set of results.
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- An analysis taken which politicallegal, economic, sociocultural and technological factors a company are in to account so as ocme up with the plans of organization for long term.