Performing A Cost Benefit Analysis

1635 Words Apr 11th, 2016 7 Pages
(A). Performing a cost-benefit analysis would help the project manager and team compare and establish vendor financial and non-financially benefits. By performing a cost-benefit analysis, the project manager can gain benefits by selecting vendors and suppliers that specialize in certain areas. Performing the cost-benefit analysis would highlight vendor strengths in delivery, flexibility, quality and reliability, fair price, familiarity, and financial and business stability that would best meet the established project budget and hospitals and ambulatory care facilities with the necessary framework for EHR exchange. Choosing a vendor with a good delivery history would eliminate waste when purchasing needed EHR software and equipment, this translates to saving on unnecessary shipping costs, and reducing the need to store equipment or material that is not immediately utilized or needed. Cost-benefit analysis can also show the flexibility benefits that a vendor may provide. Vendor flexibility is important because the vendor can provide value by giving the option to seize opportunity, avert a crisis, and costs due to last minute changes. Quality and reliability is also very important when choosing a vendor. A cost-benefit analysis would help find a vendor to provide the highest quality product to meet budget constraints to meet the hospital and ambulatory center’s needs. Vendor fair price would benefit both the buyer and supplier, if pricing information is revealed, a…

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