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The evaluation of potential problems compared to the expected advantages is called cost-benefit analysis. This is a scientific method that analyzes the potential risks of a situation to see if they will outweigh the benefits. The process can be used for many areas of business, including technology.

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What involves evaluating the possible problems or risks of a technology compared to the expected advantages?

The process of evaluating the possible problems or risks of a technology compared to its expected advantages is known as a risk-benefit analysis. This assessment involves identifying potential negative outcomes, such as safety concerns or environmental impacts, and weighing them against the positive aspects, such as efficiency gains or improved quality of life. It helps stakeholders make informed decisions about the adoption and implementation of new technologies. Ultimately, this analysis aims to ensure that the benefits outweigh the risks, guiding responsible innovation.


What is the cost vs benefit analysis of implementing this new technology in our business?

The cost vs benefit analysis of implementing this new technology in our business involves evaluating the expenses of adopting the technology against the potential gains and improvements it can bring to our operations and profitability. It is important to weigh the upfront costs, ongoing expenses, and potential risks against the expected benefits such as increased efficiency, productivity, and competitive advantage. This analysis helps determine if the investment in the new technology is financially viable and strategically beneficial for our business.


The process of analyzing a design problem and finding a way to fix it is called what?

The process of analyzing a design problem and finding a way to fix it is called trouble shooting. The process of evaluating the possible problems of a technology compared to the expected advantages is the risk benefit analysis.


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