Tangible and intangible while applied to costs and benefits, Project Management

What do you mean by the terms tangible and intangible while applied to costs and benefits?

Tangible costs or benefits are those for that a plausible quantitative value can be computed, as like increased profits or decreased staff costs. Intangible costs or advantages are those where this is not practical to compute a quantitative value.

Theoretically, almost anything can be quantified, specified adequate time and the right resources to perform the analysis. For illustration, ‘enhanced public image’ could be measured by opinion polls or surveys and could even, maybe, be connected directly to sales figures. Nonetheless, in most cases, the expert resources are not accessible to do the research and, within any case, the results are frequently debatable and sometimes not believed through the decision makers. This is usually better; therefore, while dealing along with intangible costs and advantages to describe in the business case that they are and to assume the decision makers put their own or subjective value on what they may be worth.

Posted Date: 9/2/2013 7:21:24 AM | Location : United States







Related Discussions:- Tangible and intangible while applied to costs and benefits, Assignment Help, Ask Question on Tangible and intangible while applied to costs and benefits, Get Answer, Expert's Help, Tangible and intangible while applied to costs and benefits Discussions

Write discussion on Tangible and intangible while applied to costs and benefits
Your posts are moderated
Related Questions
Quantitative layout analysis - Trial and Error Method Here we use simple travel chart and graphical approach to reduce to minimize nonadjacent flows by centrally locating the

Please note that the exam is an individual effort (NOT a group effort). Please be sure that all the submitted work is your own. You cannot discuss the test with your classmates or

Are the principal advantages and disadvantages of the sequential approach to system development offered through the waterfall and ‘V’ lifecycle models? The waterfall approach a

Scheduling  Once a program plan is approved, good scheduling is the heart of the program management process. Program schedules provide adequate time to ensure that the work bre

Question Using a project drawn from your own experience, discuss the following (a) What are the two primary stages of risk management of a project? (b) What are the four

How to initiate a project

Disadvantages of Product Layout - Inflexibility Inflexibility is a drawback of this type of layout. The equipment laid out is designed to perform specific operations. No machi

Question: Performance appraisal (PA) and management play an important role in the effective management of employees in every viable organisation. However, for many Human Resour

Perform a status assessment of the third Elaboration iteration. DO NOT GENERALISE. Assess each activity separately and assess it against the outcomes specified for the activity. Ge

Project control processes cannot be overemphasised in their significance to the success of a project. The project manager must continually take a pro-active approach in controlling