Cost Benefit Analysis (CBA) is a method of evaluating the potential return on investment associated with a proposed venture. Simply put, CBA helps you make an informed decision when it comes to spending resources wisely. By taking into account both the monetary costs and benefits of a project, business owners can ensure that they get the maximum bang for their buck. To complete a CBA analysis, you need to break down each component of the project—including materials, labor, taxes, and other related expenses—and compare it to the estimated benefits for each component. The end result will provide a clear indication of whether or not the project is worth pursuing. It’s an essential tool for any business that wants to minimize risk while reaching its highest potential.