Identify Benefits
1. Continuing with the CBA, proceed with the identification and quantification of benefits, per Writing a Cost-Benefit Analysis article.
2. Make a list of all monetary benefits that will be experienced upon implementation and thereafter. These benefits include direct profits from products or services, increased contributions from investors, decreased production costs due to improved and standardized processes, and increased production capabilities, among others.
3. Make a list of all non-monetary benefits that one is likely to experience. These include decreased production times, increased reliability and durability, greater customer base, greater market saturation, greater customer satisfaction, and improved company or project reputation, among others.
4. Assign monetary values to the benefits identified in steps one and two. Be sure to state these monetary values in present value terms as well.
5. Add all anticipated benefits together to get a total benefits value (Plowman, 2014).