COST-BENEFIT ANALYSIS - UNDERSTANDING & IMPLEMENTATION

Business Management

Introduction

Cost benefit analysis is concerned with the theory and application of criteria for investment decision-making. The purpose of this course is to develop an understanding of the principles of cost benefit analysis and to indicate the usefulness and limitations of the method by way of project evaluations and other varied examples on its implementation. Such questions as how do we appraise projects under conditions of uncertainty, and what could be done about distributional considerations? The problem of including non-market goods and their valuation is also highlighted and discussed in this workshop. Exercises and cases involving real and simulated cost benefit studies will be given where appropriate supported by use of XL spreadsheets and video discussions.

Objectives

By the end of the course, you would be able to:

  • To define cost-benefit analysis (CBA)
  • To understand the importance of cost-benefit analysis in an organisation
  • To identify the benefits of cost-benefit analysis
  • To learn cost-benefit analysis techniques
  • To define the different aspects of costing
  • To understand the ALARP principle
  • To understand process improvement approaches and costing implications

Duration

1 day | 9am – 5pm | 7 hours

Who Should Attend

Managers, Supervisors, Process Owners and those who wish to pursue opportunities for achievement of objectives in a cost effective manner and create value.

Award of Certificate

Certificate of Completion will be issued to participants who have attended at least 75% of the course.

Course Fees

Member: S$331.70
Non-Member: S$401.25

Registration Fee of S$17.12 apply.
All fees stated are inclusive of 7% GST

Course Content

Total Training Hours: 7 hours
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    • Lecture1.1
      Value Perspectives & the Value Proposition – from Threats to Opportunities
    • Lecture1.2
      Cost Benefit Analysis Introduction – An 8 step CBA Method
    • Lecture1.3
      Planning and Projects Sustainability and Economics
    • Lecture1.4
      Cost-Benefit Evaluation Techniques
    • Lecture1.5
      Costing, including Opportunity Costs, Prevention, Appraisal & Failure
    • Lecture1.6
      Cause and Effects Analysis
    • Lecture1.7
      Earned Value Analysis (ENV)
    • Lecture1.8
      Risk Cost Analysis
    • Lecture1.9
      The ALARP Principle (as low as reasonably practical)
    • Lecture1.10
      Change & Variances
    • Lecture1.11
      Productivity, Innovation and Process Efficiency
    • Lecture1.12
      Value Stream Mapping

Trainer

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SQI
Cost Benefit