Determine if the benefits associate with the project sufficiently outweigh the probably costs.

Cost Benefit Analysis (CBA) is a crucial element that is performed at the end of the Examination and Study phase. The primary goals of CBA are to 1) establish a tangible estimate of cost associated with the proposed project, 2) quantify the benefits from which the organization will recognized from the project, and 3) determine if the benefits associate with the project sufficiently outweigh the probably costs.

In this assignment, you will be assuming the role of an analyst that is part of a team tasked with performing a CBA for a regional hospital. You are tasked with performing the Initial Cost Assessment for a proposed wireless project that enables nurses to enter and view patient vitals and related information at the bedside using palm size hand-held computing devices.

Read the following cost benefit analysis methodology document to gain a detailed understanding of CBA and to obtain specific details on how to perform each step. Cost Benefit Analysis Instruction.

Pay close attention to sample the worksheet in Appendix D (Initial Cost Assessment) and the description of each task.

Open the following Excel workbook file and review the detail listed under the “Initial Cost Assessment” tab indicated at the bottom of the worksheet. CBA Excel Worksheet

As part of the deliverable to your team (and this assignment) populate the information as outlined under the Cost Assessment tab within the CBA Worksheet. Additionally, write a narrative report that clearly addresses the following requirements:

Describe the context of your project and provide a general scope of work.
Provide a narrative description of the primary cost categories you assume will be part of the project
Add or remove cost category from those listed in the worksheet and explain why.
Assign estimated costs associated with each cost category item you list in the worksheet. Briefly, explain your assumptions and rationale supporting your estimate (do this in the narrative report).
Summarize the outcome of your assessment including any additional contingent factors or considerations that should be included in your report and conveyed to the team.

As you can see, there are no specific details provided to you for this assignment. You are to create your own scenario, assumptions and respective estimates. Accordingly, there are no right or wrong answers. The intent of this assignment is to evaluate your understanding of the material based on your assumptions and estimates, and how well you explain and support them.