Everyone makes choices. In their daily work, project managers, technical professionals and business analysts routinely consider different means to improve performance and results. Sometimes, the "means" are alternative project approaches; sometimes, the means are acquisition of competing products or services. Project personnel require solid skills in project evaluation and prioritization and identification of the ROI on projects. The challenge is always to answer the question: "Which choice is best?" The cost-benefit analysis reveals the answer.

Today's project managers and decision-makers demand hard facts before they approve a project or authorize an acquisition. Cost-benefit analysis (CBA) is the technique business-savvy IT organizations use to identify the "best" choice.

Learning how to do it right is exactly what you will get from this fast-paced, highly-interactive workshop. You will receive straightforward CBA templates, hear a plain language explanation of the facts to include in the CBA, participate in a series of challenging exercises, and learn a practical Step-by-step CBA preparation process.

A key aspect of any project lies in the ability of the requesting organization (often relegated to the Project Manager) to present a case for why a project should be authorized.

Many projects are authorized on well-meaning benefits, but too often, when the project is completed, the "benefits" are seldom realized. Managing the client's (or manager's) expectations requires a realistic approach to estimating anticipated project benefits and understanding the project costs – both capital and operational.

This workshop provides a practical and usable approach the project leader, project team and other involved parties can use immediately.

This two-day workshop is designed to cover the foundation methods, tools and techniques for justifying a project. It also will provide a better understanding of the practical techniques that can be used to obtain project approval.

The class achieves its results through presentation, discussion, team exercises and the option to apply the methods on participants' current projects. At the end of this course, participants will be able to:

• Learn the overall cost estimating process and the various techniques for creating early project estimates.
• Review methods for performing background analysis and developing project scope, requirements and objectives.
• Determine when to use Cost-Benefit Analysis in the project lifecycle.
• Understand the factors that can dramatically affect project estimates.
• Learn the difference between Estimates and Bids and the Role of Assumptions.
• Learn the types of tangible costs and how each can be used in supporting project benefits.
• Learn how to describe the role of intangible benefits and how they can become powerful reasons for authorizing a project.
• Learn methods for incorporating intangible benefits into a financial analysis.
• Learn the various justification behavior techniques for new technologies and varying organizational attitudes.
• Understand and use financial analysis techniques – ROI, Breakeven Analysis, Net Present Value and Internal Rate of Return.
• Obtain practical templates for the development of a Business Case and Cost/Benefits Analysis.

The workshop is organized and presented for busy professionals who use/will use a Cost-Benefit Analysis to support informed IT project and acquisition decisions. Participants typically include project management specialists, technical professionals, business analysts and business unit managers.

There are no prerequisites. Some project management experience is desired.

Instructor-led, group-paced, classroom-delivery learning model with structured hands-on activities and case study analysis.