Cost-Benefit Analysis Template
Assess pros and cons and improve your informed decision-making.
About the Cost Benefit Analysis Template
What is a cost benefit analysis?
Every business decision comes with potential rewards, as well as potential risks. Your decision might expand the business, introduce a new product, or tap into a new supply chain, but it also might cost the organization precious time, money, or social capital. Without a systematic way of analyzing costs and benefits, you may find making decisions an arduous task.
Cost benefit analysis (CBA) is an analytical tool that helps your team assess the pros and cons of moving forward with a business proposal. This technique helps you decide the best course of action to take with a new project by analyzing each option.
When to use a cost benefit analysis
You can use a CBA to compare completed or potential processes, or to estimate the value against the risks of decisions, projects, or processes. Your team can use this powerful, efficient tool in commercial transactions, business decisions, and project investments.
Advantages of using a cost benefit analysis
Organizations make high-stakes choices all the time. Chances are high that your competition is weighing many of the same factors that you are. That’s why it’s crucial to approach decisions in a systematic, methodical way.
A cost benefit analysis allows you to weigh the potential costs of a decision without having to actually incur those costs. It helps your team decide whether the benefits outweigh the costs. If you have no choice but to incur costs, the analysis can provide an estimate for the time it will take to repay those costs.
Perform your own cost benefit analysis
Miro’s whiteboard tool is the perfect canvas to create and share your team’s cost benefit analysis. Get started by selecting this Cost Benefit Analysis Template. Then, follow these steps:
Step 1: Brainstorm costs and benefits. Make a list of each. Try to think of unexpected costs or benefits that your team might not have immediately anticipated. Once you have a list of costs and benefits, think about whether those costs and benefits are likely to change or grow over time.
Step 2: Figure out the monetary value of the costs. Will you need to hire employees? Train them? Will you experience a decrease in productivity while new hires get up to speed? If you introduce a new feature, will your system experience an outage that impacts your customers
Step 3: Now assign a monetary value to the benefits. Do your best to estimate potential revenue, but don’t confine yourself to cash. Think about “soft” benefits like positive word-of-mouth, employee satisfaction, or environmental preservation.
Step 4: Compare your costs and benefits. Which seems greater? How long would it take to repay any costs?
Get started with this template right now.
Love Bomb Icebreaker Template
Works best for:
Icebreakers
Encourage team members to show their appreciation for each other using Miro’s free Love Bomb Icebreaker Template. Participants can add words or phrases that show what they appreciate about their colleagues.
Creative Brief Template
Works best for:
Design, Marketing, Desk Research
Even creative thinkers (or maybe especially creative thinkers) need clear guidelines to push their ideas in productive, usable directions. And a good creative lays down those guidelines, with information that includes target audience, goals, timeline, and budget, as well as the scope and specifications of the project itself. The foundation of any marketing or advertising campaign, a creative brief is the first step in building websites, videos, ads, banners, and much more. The brief is generally prepared before kicking off a project, and this template will make it easy.
The 4-Step Retrospective
Works best for:
Retrospectives, Agile Methodology, Meetings
The 4-Step Retrospective template offers a simple yet effective framework for conducting retrospectives. It provides steps for reflecting on what went well, what didn't go well, what could be improved, and action planning. This template enables teams to systematically review past iterations, identify areas for growth, and implement actionable improvements. By promoting a structured approach to reflection and improvement, the 4-Step Retrospective empowers teams to drive continuous learning and enhancement effectively.
Agile Marketing Kanban
Works best for:
Agile, Kanban
The Agile Marketing KANBAN template adapts Kanban principles to the marketing domain, enabling teams to manage campaigns, tasks, and workflows efficiently. It provides visual boards for planning, prioritizing, and tracking marketing activities, ensuring alignment with strategic goals and timely delivery of campaigns. With customizable columns and swimlanes, this template empowers marketing teams to visualize work, limit work in progress, and optimize their processes, driving agility and effectiveness in marketing operations.
Infographic Template
Works best for:
Marketing, Desk Research, Documentation
As we bet you’ve experienced, data can get pretty dense and dry. But you need it to be compelling, memorable, and understandable. The solution? Infographics. These are tools that let you present information in a visually striking way and turn quantitative or qualitative data into stories that engage and resonate. Whoever you’ll be presenting to — customers, donors, or your own internal teams — our template will let you design an infographic that combines text and visuals to break down even the most complicated data.
Azure Demand Forecasting Template
Works best for:
Software Development, Diagrams
The Azure Demand Forecasting diagram will show the architecture of a demand forecast, making it easier for you to predict data consumption, costs, and forecast results. Azure is Microsoft’s cloud computing platform, designed to provide cloud-based services such as remote storage, database hosting, and centralized account management. Azure also offers new capabilities like AI and the Internet of Things (IoT).