SOFTWARE ENGINEERING

Detailed explanation-1: -Additional to cost analysis generally, specific work includes whole-life cost analysis and cost–volume–profit analysis. This role usually sits within the company’s financial management area in general; sometimes, specifically, in “FP&A” (Financial planning and analysis).

Detailed explanation-2: -There are four main types of cost analysis: cost-feasibility, cost-effectiveness, cost-benefit (also referred to as benefit-cost), and cost-utility. Each type of analysis uses the same initial approach to assess resource costs but answers different questions.

Detailed explanation-3: -A cost-benefit analysis weighs up the benefits a new hire can bring to the company and considers this against the costs, framing it in a way that makes it easy for your leadership team to understand and make the best decision for the business.