{"id":102926,"date":"2021-01-18T17:34:20","date_gmt":"2021-01-18T12:04:20","guid":{"rendered":"https:\/\/www.vskills.in\/certification\/tutorial\/?page_id=102926"},"modified":"2024-04-12T14:25:17","modified_gmt":"2024-04-12T08:55:17","slug":"cost-analysis-5","status":"publish","type":"page","link":"https:\/\/www.vskills.in\/certification\/tutorial\/cost-analysis-5\/","title":{"rendered":"Cost Analysis"},"content":{"rendered":"\n<p>The framework for conducting a cost analysis is fairly generic and typically involves a set of guidelines that define the approach to be taken and the expected purpose (outcome) of the analysis for decision making.<\/p>\n\n\n\n<p>A cost analysis generally<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>begins with a concise definition of objectives (why)<\/li><li>includes a statement of who is interested in the analysis, its scope (who, where)<\/li><li>states what is needed\/relevant to be measured (what)<\/li><li>and describes how the analysis will be conducted (how).<\/li><\/ul>\n\n\n\n<p>You can use several methods and approaches to conduct cost analyses (the how). The options may differ based on whether<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>you are trying to analyze the impact of a specific intervention or practice, or<\/li><li>you are looking to more systemically monitor, analyze, and manage costs.<\/li><\/ul>\n\n\n\n<p>Examples of options to analyze intervention or dated costs include cost-effectiveness analysis, cost-benefit or return on investment analysis, and cost-utility analysis. Examples of more systemic cost analyses are activity-based analysis, target or should-costing, and cost of quality analysis.<\/p>\n\n\n\n<p>The following guidelines are relevant when beginning a cost analysis (the how):<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>decide on whether a retrospective or prospective data collection is appropriate<\/li><li>decide on the timeline (e.g., recommend to analyze costs for the equivalent of a year)<\/li><li>use reasonable estimates when precise numbers are not available or not easily obtained.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The framework for conducting a cost analysis is fairly generic and typically involves a set of guidelines that define the approach to be taken and the expected purpose (outcome) of the analysis for decision making. A cost analysis generally begins with a concise definition of objectives (why) includes a statement of who is interested in&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-102926","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cost Analysis - Tutorial<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.vskills.in\/certification\/tutorial\/cost-analysis-5\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cost Analysis - Tutorial\" \/>\n<meta property=\"og:description\" content=\"The framework for conducting a cost analysis is fairly generic and typically involves a set of guidelines that define the approach to be taken and the expected purpose (outcome) of the analysis for decision making. 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