ABSTRACT
The methods and procedures described in previous chapters have not advanced us very far through the project life cycle, and there will be more data to analyse and more decisions to be made before any actual project work can be authorized. But at least we should now have an outline definition of the project, together with an estimate of what it should cost and an initial idea of how long it will take to complete. This chapter advances the process of project consideration a little farther by comparing the estimated time and costs with the benefits that the project investor or owner wants. Those data and comparisons will form the basis of the business plan or project proposal.
