What is a cost-benefit analysis? How does the cost-benefit method compare to the pro-con method of decision-making? Cost-benefit analysis is a decision-making strategy intended to weigh the costs of a decision or choice against its benefits. Unlike pro-con lists, a cost-benefit analysis lists the cumulative costs that a decision will incur alongside its cumulative benefits. It thus quantifies the consequences of your decision. Here’s how to use cost-benefit analysis to analyze your decisions.
Cost-Benefit Analysis: Decision-Making 101
