Cost-Benefit Analysis Course in Singapore
Cost-Benefit Analysis Course in Singapore
Cost-benefit analysis or CBA is a systematic approach to evaluating the strengths and weaknesses of choices used to discover which options provide the most significant method for obtaining benefits while conserving savings. Examples include transactions, various business activities, as well as functional business requirements.
This Cost-Benefit Analysis workshop is ideal for anyone who would like to gain a strong grasp and improve their Cost-Benefit Analysis.
All Staff Within An Organisation
The ideal group size for this Cost-Benefit Analysis course is:
Minimum: 5 Participants
Maximum: 15 Participants
The duration of this Cost-Benefit Analysis workshop is 2 full days. Knowles Training Institute will also be able to contextualised this workshop according to different durations; 3 full days, 1 day, half day, 90 minutes and 60 minutes.
2 Full Days
9 a.m to 5 p.m
Below is the list of course benefits of our Cost-Benefit Analysis course
- Have a better understanding of cost-benefit analysis
- Appreciate importance of cost-benefit analysis
- Maximize the accuracy of a cost-benefit analysis
- Be equipped of the basic knowledge in comparing costs and benefits in a company
- Learn a systematic process to achieve benefits while preserving savings
- Be able to use systematic approach to estimate the strengths and weaknesses
- Comprehend key elements to identify present and future costs and benefits
- Identify limitations and learn to handle them effectively
- Be equipped how to maximize cost-benefit analysis in corporate situations
- Achieve accuracy in cost-benefit analysis
- Comprehend economic efficiency cost and benefits
- Gain skills on how to effectively communicate cost-benefit analysis outcome
Below is the list of course objectives of our Cost-Benefit Analysis course
- Define cost-benefit analysis
- Understand the importance of cost-benefit analysis in an organization
- List the benefits of cost-benefit analysis
- Learn the basic knowledge of cost-benefit analysis
- Illustrate the cost-benefit analysis process
- Understand how important assumption models and good approximations
- Describe each components of a cost-benefit analysis
- Discuss the limitations involved in a cost-benefit analysis
- Discuss advantages of cost-benefit analysis in corporate situations
- Identify an accurate benefit analysis
- Determine if an investment is feasible
- Present an effective cost-benefit analysis outcome
Below is the list of course content of our Cost-Benefit Analysis training course
- What is a cost-benefit analysis
- Why is cost-benefit analysis important
- What are the advantages of a cost-benefit analysis in a company
- Discussion of cost-benefit analysis basics
- Understanding the comprehensive cost-benefit analysis process
- Relevant modelling assumptions or approximations used in cost-benefit analysis
- What are the components of a cost-benefit analysis
- What are the limitations of a cost-benefit analysis
- How to leverage cost-benefit analysis in given situations
- How to ensure accuracy in a cost-benefit analysis
- How to measure benefits and costs
- How to effectively communicate the results of the cost-benefit analysis
Each participant will receive the following materials for the Cost-Benefit Analysis course
Cost-Benefit Analysis Learner’s Guide
Cost-Benefit Analysis Key Takeaways Notes
Cost-Benefit Analysis Essentials Ebook
Cost-Benefit Analysis Course Handouts
Cost-Benefit Analysis 30-Day Action Plan
Cost-Benefit Analysis MindMaps Pack
Cost-Benefit Analysis PPT Slides Used During Course
Cost-Benefit Analysis Long-Term Memory Flashcards Pack
Cost-Benefit Analysis E-Learning Course
Cost-Benefit Analysis Online Video Course
Cost-Benefit Analysis Essentials Audiobook
Cost-Benefit Analysis Infographics Pack
Each course participant will receive a certification of training completion
There are 3 pricing options available for this Cost-Benefit Analysis training course. Course participants not in Singapore may choose to sign up for our online Cost-Benefit Analysis training course.
Contact us for the latest Cost-Benefit Analysis course schedules:
Phone: +65 6817 2530
Request for this Cost-Benefit Analysis course brochure. Fill up the short information below and we will send it to you right away!
Post Training Support: A vast majority of training does not have any effect beyond 120 days. To work, training has to have a strong pre- and post-training component. Post-training reinforcement helps individuals to recall the understanding and ask questions.
Blended Learning: Learning does not occur in the classroom. Virtually everybody prefers distinct ways of learning. Successful learning should have a multi-channel, multi-modal strategy.
We Understand The Industry: We’ve got a profound comprehension of the business, business design, challenges, strategy and the that our participants are in and have designed the courseware to cater to their professional needs.
Course Content: Knowles Training Institute’s material is relevant, of high quality and provide specific learning results. Participants will leave the training course feeling as they have gained a strong understanding and will also be in a position to execute what they have learned sensibly.
Course Development — The workshop modules follow a systematic and logical arrangement. This structure helps to ensure that the course material allows the facilitators to deliver the course in a logical arrangement. Consider the subjects as building bricks into learning, our facilitators slowly build towards a comprehensive picture of this entire topic.
Cost-benefit analysis is a method used by businesses that need to weigh the aggregate of the benefits of a decision against the costs of that decision. CBA is a simple tool to decide which potential decision would become the most financial sense.
A cost-benefit analysis is the easiest way of comparing decision options to evaluate whether to go ahead with a project or decision. The idea is to compare the project costs against benefits and recognise the action that will give the most bang for the buck.
A cost-benefit analysis can be broken down into five steps:
- Define the possible options for action.
- Record all the possible outcomes (i.e. sets of consequences) for each option.
- Ascertain the probability of the consequence of each option.
- Assign a value, either positive or negative, to the outcome of each option.
- The sum of the values multiplied by the probabilities for each option is the expected value of that option.
Cost-benefit analysis (CBA) is a method used to analyse the total costs of a programme/project with its benefits, using a standard metric (usually monetary units). Make decisions on whether there is a net benefit or cost to the approach. In other words, the total benefits subtracting total costs.
Here are some benefits of Cost-Benefit Analysis:
- To understand if a capital investment is deserving.
- To know whether to hire new employees.
- To generate a benchmark for comparing projects.
- To decide which is the best marketing initiative to take.
- To know if a project or operating change is worthwhile.
There are four primary types of cost analysis used in evaluating social service programs:
- investment cost analysis;
- cost-allocation analysis;
- cost-effectiveness analysis;
- cost-benefit analysis.
Which analysis to choose depends on the question one wishes to answer and what data is available.
The cost-benefit principle or cost-benefit relationship says that the cost of giving financial information in the financial statements should not outweigh the benefit of that information to the users. This principle stems from the fact that providing financial information is not free; the cost of providing financial information increases as the level of disclosure increases.
It can evaluate intangibles, such as social advantages and disadvantages. The strengths of a cost-benefit analysis approach are linked to its weaknesses: CBA provides clarity, but sometimes does so in situations that are not as clear cut as they look.
The risk-benefit analysis is an analysis that seeks to quantify the risk and benefits to obtain their ratio. For example, many people accept the risk of driving an automobile daily, as they believe that the risk is mitigated by the controlling factor of the comprehension of their ability to handle the risk-creating situation (the automobile accident).
Cost-benefit analysis can be easily surmised by several essential principles that together describe the assumption base, objectives, analytical tasks, and merits of this vital project assessment methodology. Here, CBA identifies these principles and describes them using basic economic terms and concepts.
The benefit-cost ratio formula is the discounted value of the project/decision’s benefits divided by the discounted value of the project’s costs:
BCR = Discounted value of benefits/ discounted value of costs.
The cost-benefit equation is the total costs of the project divided into the expected returns. If the predicted revenue is more than the projected cost, the ratio is positive. However, the formula for the cost-benefit analysis takes into account variables such as inflation and other discounting principals.
The cost-benefit equation is the costs of the project divided by the anticipated returns. If the projected revenue exceeds the projected cost, the ratio is positive. The formula for the cost-benefit analysis may also account for other variables to be more accurate such as inflation and other discounting principals.
Definition of cost analysis:
- Cost analysis is the act of subdividing a cost summary into its constituents and analysing and reporting on each constituent.
- It can also be the comparison of costs (standard with actual; or for a given period with another) to disclose and report on conditions subject to improvement.
If a project has a BCR value higher than 1.0, expect the project to produce a positive net present value for a firm and its investors. If a project’s BCR value is less than 1.0, the project’s costs outweigh the benefits; hence the project should not be continued.
Calculating the benefit load — the ratio of perks to the salary received by an employee — helps a business plan effectively. Find the benefit load by combining the total annual costs of all employees’ perks and divide it by all employees’ annual salaries to determine a ratio — that ratio is the company’s benefits load.
A cost-benefit analysis (CBA) is the method used whereby the costs associated with taking that action is subtracted from the benefits of a decision or taking action. A CBA can also incorporate intangible benefits and costs or effects from a decision such as an employee morale and customer satisfaction.
A benefit-cost ratio (BCR) is a value, used in cost-benefit analysis, that attempts to summarise the overall value for money of a project. A BCR is the ratio of benefits of a proposal, stated in monetary terms, relative to its costs, also stated in monetary terms.
IRR is the rate of the project’s growth. Calculate IRR with the discount rate set such that the NPV = 0 for a project. Use IRR in capital budgeting to determine which projects or investments to undertake and which to abandon.
Calculate NPV by taking the difference of the present value of cash inflows and the present value of cash outflows over a period. As the name suggests, the net present value is nothing but net off of the present value of cash inflows and outflows by discounting the flows at a specified rate.