ICAS Cost Benefit Analysis

Clarekaye
Clarekaye Registered Posts: 307
in AAT Level 4 (Level 8 in Scotland)
I am stuck at the last bit on my ICAS, the cost benefit analysis.

How long was your section, what roughly did you write about and how did you lay it out?

Thanks :)

Comments

  • Jade Hunt
    Jade Hunt Registered Posts: 19 Dedicated contributor 🦉
    It should be laid out like your analysis and recommendation sections so you can follow it easily, I broke these down into sections like this...

    7 - Analysis
    7.1 Training
    7.1.1 The current process...
    7.1.2 Staff currently....

    8 - Recommendations
    8.1 Training
    8.1.1 It would be beneficial for...


    Then in the cost benefit analysis you need to give costs of how much your recommended changes would cost (you need to do this for every recommendation) and explain what the associated benefits would be - essentially how worthwhile it would be to implement your recommendations. You can give a price range or if you cannot find a cost, make a reasonable assumption!

    9 - Cost benefit analysis
    9.1 Training
    9.1.1 The cost of this would be £...
    9.1.2 Benefits associated with this are...


    My analysis section was around 3 pages as I analized quite alot, including strengths. Recommendations and cost benefit were 2 pages each. I hope this helps! :)
  • Kelly7
    Kelly7 Registered Posts: 218 Beyond epic contributor 🧙‍♂️
    My cost benefit analysis was a page long and I only did it for one recommendation which my tutor said was fine.

    Mine was changing from cheque payments to BACS payments so I costed the time it took to write cheques and envelopes, costed the price of postage and times by the amount of cheques wrote each month. Costed the time spent to make the payment online x the amount of payments and a one off payment of setting all suppliers up.

    Got information from the bank how much it costed to cash a cheque and to receive a BACS payment.

    Put it all down and then worked out how much we would save by paying by BACS.

    Let us know if you need any more help. I would def suggest trying it first. I found once I actually started to write it I got further than I thought x
  • Lucy_M
    Lucy_M Registered Posts: 136 Beyond epic contributor 🧙‍♂️
    I did mine on two recommendations, but not all of them, it was just over a page. One was a new signing in system and I googled some info and added a table showing how much money is lost when staff take the odd 5 minutes, over a year times all staff... The other was training as AAT are quite hot on that ;)

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