Analyze costs and benefits

Proper initiation also helps ensure that the benefits of the project outcomes will outweigh the costs.

These guiding questions can help you define costs:

  1. What are the biggest risks for this project?

  2. What resources (money, time, people, supplies) will it take to solve the problem? How many people

    need to work on it? How much time will it take? Where will the resources come from?

  3. What would be the cost of not solving this problem?

These guiding questions can help you define benefits:

  1. What is the biggest problem you are trying to solve? How will your project solve it?

  2. How would you define “success” or “completion”?

  3. What are the direct or indirect benefits to the audience/users/organization?

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