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8 June, 23:07

Why is it important for a business to try to quantify the expected benefits ofimplementing a solution to a problem?

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  1. 9 June, 01:07
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    The company needs to quantify well ahead the benefits of implementing a solution to a problem in order that such benefits derivable from the implementation can be weighed against associated costs of such course of action.

    Explanation:

    Cost benefit analysis is key in project implementation. This is process of comparing the costs of a project with the envisaged benefits of such project, to ascertain the net benefits in terms of net cash flows, reduction in costs or even sometimes the extra revenue that solution brings to the company's bottom line.
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