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Cost Analysis
The examination of the costs associated with producing and delivering products or services.
Implications
The process of evaluating the costs associated with a project, product, or decision, often used to determine profitability, cost-effectiveness, and budget requirements.
Example
Example: A government agency conducts a cost analysis of a proposed infrastructure project to determine whether the benefits justify the expected expenses, including both initial construction and long-term maintenance.
Related Terms
Different from cost-benefit analysis, which compares costs to benefits, cost analysis focuses solely on understanding and managing the costs involved.
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