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I'm assuming here that you mean in reference to production. Cost effective analysis can apply to a range of areas but with anything there is an end product.
Method by which a person, group, company go by to determine if the current means of producing a good will result in a loss or gain in monetary terms.
Wiki User
∙ 16y ago
Wiki User
∙ 9y agoCost effective analysis (CEA) is a type of economic analysis that performs a comparison of relative costs and effects of 2 or more courses of actions in a business environment.
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What are the similarities and differences between cost benefit analysis and cost effectiveness analysis?
These are essentially the exact same thing. There really aren't any differences. This is just a different way of saying deciding what is most cost effective for your business.
What characterizes cost-benefit analysis?
Cost-benefit analysis is rational.
When will a cost benefit analysis be done?
when will a cost benefit analysis be done
What do you understand by cost-benefit analysis and what are its uses and limitations?
What do you understand by cost analysis
Types of Cost-benefit analysis methods?
One type of cost-benefit analysis is cost minimization. This is where one determines the least costly alternative. Cost-of-illness analysis takes the economic impact of illness into account.
What is cost effective method?
Cost-effectiveness analysis (CEA) is a form of economic analysis that compares the relative costs and outcomes (effects) of two or more courses of action. Cost-effectiveness analysis is distinct from cost-benefit analysis, which assigns a monetary value to the measure of effect. Cost-effectiveness analysis is often used in the field of health services, where it may be inappropriate to monetize health effect. Typically the CEA is expressed in terms of a ratio where the denominator is a gain in health from a measure (years of life, premature births averted, sight-years gained) and the numerator is the cost associated with the health gain. The most commonly used outcome measure is quality-adjusted life years (QALY). Cost-utility analysis is similar to cost-effectiveness analysis. Cost-effectiveness analyses are often visualized on a cost-effectiveness plane consisting of four-quadrants. Outcomes plotted in Quadrant I are more effective and more expensive, those in Quadrant II are more effective and less expensive, those in Quadrant III are less effective and less expensive, and those in Quadrant IV are less effective and more expensive.
What are the similarities and differences between cost benefit analysis and cost effectiveness analysis?
These are essentially the exact same thing. There really aren't any differences. This is just a different way of saying deciding what is most cost effective for your business.
Where can I find website traffic analysis?
There are several companies that offer reliable and cost-effective website traffic analysis. Wb analytics are offered by companies like Webstat and Alexa.
What is effective stress analysis?
The effective stress analysis refers to the force that keeps the collection of the particles rigid.
When will a cost analysis be done?
when will a cost benefit analysis be done
What characterizes cost-benefit analysis?
Cost-benefit analysis is rational.
When will a cost benefit analysis be done?
when will a cost benefit analysis be done
What is total and effective stress analysis?
The total and effective stress analysis is used for the short term problems like the temporary evacuations.
What is the difference between functional cost analysis and engineering cost analysis?
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What do you understand by cost-benefit analysis and what are its uses and limitations?
What do you understand by cost analysis
What does cost effective mean?
Cost-effective is the principal of going for the lowest cost.
What is the importance of a cost analysis?
A cost benefit analysis balances cost of the action against the benefits one expects from it.
