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Duration 21 hours
Course Outline
Foundations of Cost-Effectiveness Analysis
- The purpose and strategic value of cost-effectiveness reasoning
- Differentiating cost-effectiveness from other assessment methodologies
- Defining distinct alternatives and framing decision-making questions
Recognizing and Quantifying Costs
- Direct, indirect, and opportunity cost categories
- Strategies for cost classification and resource allocation
- Integrating cost data into comparative evaluations
Recognizing and Quantifying Outcomes
- Diverse types of outcomes across different industries and settings
- Measuring performance, benefits, or impact levels
- Incorporating qualitative outcomes into structured evaluations
Cost-Effectiveness Ratios and Comparative Evaluation
- Calculating average cost-effectiveness ratios
- Determining incremental cost-effectiveness ratios
- Interpreting ratio data to aid decision processes
Decision Models and Analytical Methods
- Utilizing decision matrices and scoring frameworks
- Conducting sensitivity tests on critical variables
- Constructing scenarios and comparing alternatives
Managing Uncertainty, Assumptions, and Verification
- Addressing data limitations and incomplete information
- Testing the stability of cost and outcome inputs
- Verifying conclusions for stakeholder review
Reporting and Communicating Findings
- Creating concise and clear evaluation summaries
- Visualizing comparative data and key insights
- Substantiating recommendations with supporting evidence
Practical Workshop: Executing a Comprehensive Cost-Effectiveness Evaluation
- Analyzing a complex scenario with multiple options
- Implementing the full cycle of analytical steps
- Developing a decision-focused evaluation report
Wrap-up and Future Directions
Requirements
- A solid grasp of core financial or analytical principles
- Prior experience in assessing project alternatives or options
- Basic proficiency in quantitative reasoning
Intended Participants
- Specialists engaged in decision analysis
- Managers tasked with reviewing project or investment opportunities
- Analysts who provide support for business, technical, or policy-related decisions
Testimonials (2)
Friendly, plenty of breaks to think about what we have learnt and lovely guy.
Leanne - Welsh Revenue Authority
Course - Agile Business Analysis
comparing theory to practical life