Quality Decision Making: Identification of Benefits

Quality Decision Making: Identification of Benefits

Continuing with the cost-benefit analysis for the issue you examined in the second Unit 5 discussion, proceed with the identification and quantification of benefits, per Plowman’s 2014 “Writing a Cost-Benefit Analysis” article. In your initial post, briefly restate the issue for which you conducted the cost-benefit analysis, then apply Plowman’s process:
Make a list of all monetary benefits that will be experienced upon implementation and thereafter. These benefits include direct profits from products and/or services, increased contributions from investors, decreased production costs due to improved and standardized processes, and increased production capabilities, among others. Make a list of all non-monetary benefits that one is likely to experience.