Conduct a cost-benefit analysis using a template, and explain the concept of opportunity cost and how a cost-benefit analysis aligns with organizational needs. Recommend a plan of action based on the cost-benefit analysis.Requirements

Prepare a two-part cost-benefit analysis.

Part 1
Complete the cost-benefit analysis template for the purchase of an MRI machine for the clinic. I uploaded this.
Part 2
Based on the cost-benefit analysis, write a 2–3-page summary:

Explain the concept of opportunity cost.
Explain how the cost-benefit analysis aligns with organizational needs and future growth.
Recommend a plan of action that is supported by the cost-benefit analysis. (Should the clinic purchase the MRI machine, or not?) Reference specific areas of the analysis in your recommendation.
Submit both parts of the assessment at the same time. Please note that you will need to attach each part separately since they are different types of documents.

Additional Requirements

Include a title page and reference page for Part 2.

At least two current scholarly or professional resources (Part 2 only).
APA format for citations and references used in Part 2.
Times New Roman font, 12 point (Part 2).
Double-spaced (Part 2).
This tool provides a step-by-step guide with a real-world example.

Mind Tools: Essential Tools for an Excellent Career. (n.d.). Cost-benefit analysis: Deciding, quantitatively, whether to move ahead. Retrieved from https://www.mindtools.com/pages/article/newTED_08.htm
RESOURCES REQUIRED:Required Resources
The following resources are required to complete the assessment.

This resource includes information on writing a cost-benefit analysis.

 

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