quartz/content/notes/25-cost-benefit-analysis.md

title	aliases	tags
25-cost-benefit-analysis		info201 lecture

justifying a project

• of difficult to prove justification
• three criteria
  • need
  • funds
  • strong will

deciding whether to pursue a project

• what the project address
  • a problem
  • opportunity
  • directive
• time frame
• overall priority
• what options do you have

Case study

Feasability analysis

• should we build it (organisational)
  • nature and strength of need
  • strategic alignment? overall priority?
  • stakeholder support? Champion?
  • e.g., (otago uni)
    • document management system - legislated
    • student management system - mission critical
    • hard to share multimedia (otago capture) - problem
    • online teaching - opportunity
• can we bulid it (techinical)
  • complecity (higher complexity -> higher risk)
  • familiarity and expertise (low familiarity -> higher risk)
  • size (larger -> higher risk)
  • compatitibilty (with existing systems; less -> higher risk)
  • e.g., IBM police 90's fil
• will it be worth it (economic)
• includes considerations of risk and uncertainty
• may revisit due to uncertainty