Identify Objectives: Clearly define the objectives of the decision or project. Identify Costs and Benefits: List all potential costs and benefits. Costs might include initial investment, operating expenses, and potential risks. Benefits could include increased revenue, improved efficiency, and enhanced customer satisfaction. Quantify Costs and Benefits: Assign monetary values to the identified costs and benefits. This may require financial analysis and market research. Calculate Net Benefits: Subtract the total costs from the total benefits to determine the net benefit or net present value (NPV). Analyze Results: Interpret the results to make an informed decision. Consider the return on investment (ROI) and payback period.