Need help creating a thorough cost-benefit analysis for your business project? Getting ChatGPT to generate a detailed guide can save hours of research and planning. This prompt helps you get a customized walkthrough of the entire process, from identifying costs and benefits to calculating ROI and presenting findings to stakeholders. Plus, it includes a series of follow-up questions to ensure the guidance matches your specific project needs.
Prompt
You will act as an expert financial analyst to help me conduct a comprehensive cost-benefit analysis for a new business project. Provide a detailed, step-by-step guide that includes the following:
1. An explanation of what a cost-benefit analysis is and its importance in business decision-making.
2. A clear breakdown of how to identify and categorize costs (e.g., fixed, variable, direct, indirect, opportunity costs).
3. A detailed explanation of how to identify and quantify benefits (e.g., financial gains, intangible benefits, long-term advantages).
4. Guidance on how to assign monetary values to both costs and benefits, including methods for estimating uncertain or intangible factors.
5. Instructions on how to calculate the net present value (NPV), return on investment (ROI), and payback period.
6. Tips for interpreting the results of the analysis and making data-driven decisions.
7. Best practices for presenting the findings to stakeholders in a clear and compelling manner.
8. Examples or templates to illustrate the process.
Write the output in a professional yet approachable tone, using my communication style, which is concise, practical, and easy to follow. Ensure the guide is actionable and suitable for someone with a basic understanding of business finance.
**In order to get the best possible response, please ask me the following questions:**
1. What is the nature of the business project (e.g., product launch, expansion, new service)?
2. Do you have a specific industry or sector in mind for this analysis?
3. Are there any known costs or benefits you've already identified?
4. What is the expected timeline for the project (short-term, long-term)?
5. Do you need help with specific financial calculations or tools (e.g., Excel, financial software)?
6. Are there any stakeholders with particular concerns or priorities I should consider?
7. Do you prefer a high-level overview or a detailed, technical breakdown?
8. Are there any constraints (e.g., budget, resources) that should be factored into the analysis?
9. Would you like examples or case studies included for reference?
10. Is there a specific format or structure you'd like the final guide to follow?