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November 2016Erie County Department of Social Services Cost Impact Analysis of Lease Options 1012 Fountain Plaza and 478 Main StreetSTEFAN I. MYCHAJLIW ERIE COUNTY COMPTROLLER HON. STEFAN I. MYCHAJLIW
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01
Start by gathering all relevant financial data and cost information related to the project or decision.
02
Identify all potential costs associated with the project, including direct costs, indirect costs, and any other relevant expenses.
03
Analyze the potential impact of each cost on the overall project or decision. Consider factors such as feasibility, profitability, and resource allocation.
04
Quantify and estimate the financial impact of each cost. Use historical data, industry benchmarks, or expert opinions to assist in the estimation process.
05
Calculate the total cost impact by summing up all the quantified costs.
06
Evaluate the cost impact against the anticipated benefits or goals of the project. Determine whether the costs are justified and will ultimately deliver value.
07
Present the cost impact analysis in a clear and concise manner, using appropriate charts, graphs, or tables to illustrate the findings.
08
Review and revise the cost impact analysis as necessary. Update the analysis with new data or information that may arise during the project lifecycle.

Who needs cost impact analysis of?

01
Organizations or businesses planning to undertake a new project or make a significant decision.
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Project managers or decision-makers who want to assess the financial implications of a project or decision.
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Government agencies or regulatory bodies that require a cost impact analysis as part of their assessment or approval processes.
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Any individual or entity that wants to make informed financial decisions and understand the potential consequences of their actions.
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Cost impact analysis is the assessment of the financial effects of a particular decision or action.
Certain businesses or entities may be required to file cost impact analysis, depending on regulations or requirements.
Cost impact analysis should be filled out by providing detailed information on costs and potential impacts of a decision or action.
The purpose of cost impact analysis is to evaluate the financial implications of a decision or action before it is implemented.
Cost impact analysis must include detailed information on costs, potential benefits, and potential risks.
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