Economic analysis is used for evaluating the effectiveness of a proposed system. This method is also known as cost/benefits analysis. The procedure is to determine the benefits and savings that are expected from a proposed system and compare them with the costs.
If the benefits outweigh the costs, then the decision is made to design and implement the proposed system.
Showing posts with label Economic Feasibility. Show all posts
Showing posts with label Economic Feasibility. Show all posts
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