What is cost-benefit analysis in SAP ORG-LX-T9N - Team: Corporate Translation?

SAP Term: cost-benefit analysis

• Component: ORG-LX-T9N

• Component Name: Team: Corporate Translation

• Description: A process to measure the relation between the cost of a decision or action and the value of the resulting benefits.

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• Key Concepts: 
  Cost-benefit analysis is a method used to evaluate the potential costs and benefits of a project or decision. It is used to determine whether the proposed project or decision is worth pursuing. It involves comparing the expected costs and benefits of a project or decision and then making a decision based on the results. 
  
  How to use it: 
  Cost-benefit analysis can be used to evaluate any project or decision. It involves identifying all of the potential costs and benefits associated with the project or decision, estimating their values, and then comparing them to determine if the project or decision is worth pursuing. 
  
  Tips & Tricks: 
  When conducting a cost-benefit analysis, it is important to consider all of the potential costs and benefits, both tangible and intangible. Additionally, it is important to consider the time frame in which the costs and benefits will occur. 
  
  Related Information: 
  Cost-benefit analysis is closely related to other methods of evaluation such as return on investment (ROI) analysis and net present value (NPV) analysis. These methods are also used to evaluate projects or decisions, but they focus more on financial considerations than cost-benefit analysis does.