What is cost-benefit analysis? (1 point)

Question

Cost-benefit analysis is used to aggregate the costs from several different O plans and aggregate the benefits from those plans so that the plans can be examined at as a single entity.

Cost-benefit analysis is used when the costs outweigh the benefits of a plan in an attempt to reduce the costs or increase the benefits.

Cost-benefit analysis is used to make a comprehensive list of all benefits and costs in a plan. Then, those benefits and costs are ranked and examined.

Cost-benefit analysis is used to determine whether or not the benefits of a proposed plan are greater than its costs.

Answer 1

By comparing the costs and benefits of a project or decision, cost-benefit analysis helps decision-makers assess whether the benefits will outweigh the costs. This analysis can assist in making informed choices and prioritizing projects based on their potential impact and value.