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    Why Is It Important For A Business To Try To Quantify The Expected Benefits of Implementing A Solution To A Problem

    Uploaded by

    Vikram Kumar
    The document discusses why it is important for businesses to quantify the expected benefits of implementing solutions to problems. Quantifying benefits helps assess whether the expected outcomes outweigh costs and allows businesses to determine if projects are worth pursuing. Customer requirements must also be precise to ensure the work completed meets specifications and to avoid rework costs. Request for proposals state required approvals to match customer expectations and ensure sign-off at appropriate points, like reviewing designs before construction or prototypes before coding. Statements of work provide descriptions of project requirements including goals, scope, schedules, locations and payment terms.

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    Why Is It Important For A Business To Try To Quantify The Expected Benefits of Implementing A Solution To A Problem

    Uploaded by

    Vikram Kumar
    289 views2 pages
    The document discusses why it is important for businesses to quantify the expected benefits of implementing solutions to problems. Quantifying benefits helps assess whether the expected outcomes outweigh costs and allows businesses to determine if projects are worth pursuing. Customer requirements must also be precise to ensure the work completed meets specifications and to avoid rework costs. Request for proposals state required approvals to match customer expectations and ensure sign-off at appropriate points, like reviewing designs before construction or prototypes before coding. Statements of work provide descriptions of project requirements including goals, scope, schedules, locations and payment terms.

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    Why is it important for a business to try to quantify the expected benefits of implementing a solution to a problem

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    The document discusses why it is important for businesses to quantify the expected benefits of implementing solutions to problems. Quantifying benefits helps assess whether the expected outcomes outweigh costs and allows businesses to determine if projects are worth pursuing. Customer requirements must also be precise to ensure the work completed meets specifications and to avoid rework costs. Request for proposals state required approvals to match customer expectations and ensure sign-off at appropriate points, like reviewing designs before construction or prototypes before coding. Statements of work provide descriptions of project requirements including goals, scope, schedules, locations and payment terms.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    289 views2 pages

    Why Is It Important For A Business To Try To Quantify The Expected Benefits of Implementing A Solution To A Problem

    Uploaded by

    Vikram Kumar
    The document discusses why it is important for businesses to quantify the expected benefits of implementing solutions to problems. Quantifying benefits helps assess whether the expected outcomes outweigh costs and allows businesses to determine if projects are worth pursuing. Customer requirements must also be precise to ensure the work completed meets specifications and to avoid rework costs. Request for proposals state required approvals to match customer expectations and ensure sign-off at appropriate points, like reviewing designs before construction or prototypes before coding. Statements of work provide descriptions of project requirements including goals, scope, schedules, locations and payment terms.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Why is it important for a business to try to quantify the expected benefits of

    implementing a solution to a problem?

    Answer

    Businesses need to quantify the problem to determine whether the benefits of a project
    outweigh the costs or consequences of completing the project. It is important to try to
    quantify the need to help assess whether the expected benefits of carrying out the project
    outweigh the cost or outcome of the project's implementation.

    What is meant by customer requirements? Why must they be precise?

    Answer

    Customer requirements define the functional, operational and performance specifications or


    capabilities that must be met. If the requirements are not exact, the individual performing the
    work may not complete anything to the required specifications, resulting in rework costs.

    Customer needs can change over time, and the ability to communicate with customers helps
    them adapt to changing needs. For example, if you are a seller of goods, and you want to
    increase your customer's business, you need to increase the frequency of delivery
    accordingly.

    Why would an RFP state the approvals that will be required during the project? Give
    some examples.

    Answer

    A request for proposal (RFP) is a document that specifies the requirements of the project and
    the required approval of the project. Approval must be received from the customer before the
    contractor can start working on the project.

    It is important that the final solution specifies the approval required during the project to
    match what the customer expects. For example, reviewing the design specifications of a
    home before construction begins, and reviewing the user interface of a prototype of a new
    software system before coding begins. Student examples should include projects that are
    diverse and have a level of complexity that can change as the project progresses. High cost is
    incurred.

    What should be contained in a statement of work?

    Answer
    A statement of work (SOW) is a document that provides a description of the requirements of
    a given project. The scope of work provided defines project deliverables, schedules, work
    locations and payment terms.

    Contents:

    1. Project Goals
    2. Scope of Work
    3. Place and time of performance
    4. Milestones
    5. Tasks
    6. Schedule
    7. Achievements
    8. Test
    9. Expected Results
    10. Special Conditions and Requirements
    11. Closed

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