What kind of analysis is primarily concerned with the benefits versus costs of a solution?

Cost-benefit analysis is the process that focuses specifically on comparing the benefits of a solution against its costs. This method involves quantifying the advantages that a solution brings and balancing them with the expenses required to implement or maintain it. The goal of this analysis is to determine whether the benefits outweigh the costs, ultimately guiding decision-makers in selecting the most viable option for achieving organizational goals.

This type of analysis is particularly useful in strategic planning and decision-making, as it helps stakeholders make informed choices based on measurable outcomes. It enables organizations to assess potential projects, recognize the value generated, and justify investments to ensure that resources are allocated efficiently.

While there are other types of analyses like SWOT that evaluate strengths, weaknesses, opportunities, and threats; impact analysis that assesses the potential effects of changes; and market analysis that studies market conditions and competitors, they each serve different purposes and do not focus explicitly on the financial comparison between benefits and costs in the way that cost-benefit analysis does. Thus, the emphasis on the economic evaluation of alternatives makes cost-benefit analysis the correct choice in this context.