10 Free Cost-Benefit Analysis Templates for Excel and ClickUp

10 Free Cost-Benefit Analysis Templates for Excel and ClickUp

The revolutionary idea of cost-benefit analysis broadened the understanding of ‘profit’ for businesses.

Rather than focusing purely on the net expected costs and the monetary value of benefits, it offered a multi-dimensional understanding of perceived value.

This brought to light scenarios where the benefits outweigh costs due to intangible benefits or gains like social good, brand building, etc.

Even though the concept dates back to the late 1840s, this comprehensive economic impact analysis continues to clarify whether a decision or action is worth pursuing.

Modern-day cost-benefit analysis processes have evolved to gain more structure while methodically comparing the costs incurred and the anticipated benefits for a decision or action item.

We take a look at some cost-benefit analysis templates that embody this quality.

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What are Cost-Benefit Analysis Templates?

A cost-benefit analysis template is a structured document or spreadsheet for businesses or individuals to assess the cost and benefits of a project, expense decision, or investment. Think of it as a preconfigured tool to systematically evaluate whether the benefits of a proposed action or decision justify the associated costs. 

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What Makes a Good Cost-Benefit Analysis Template?

A good cost-benefit analysis template carries different sections and elements to facilitate granular analysis. Some common components include:

  1. Project details: Name of the project, a brief description, date of the analysis, project scope and objectives, and details of the team conducting cost-benefit analysis
  2. Executive summary: A concise summary of the methodologies used, key findings, and recommendations of the analysis team for quick review and reference
  3. Cost: A detailed summary of the total costs (direct costs + indirect costs) involved spread across different parameters such as the initial cost, one-time costs, ongoing operating costs, recurring costs, maintenance costs, training costs, and every other expense. The cost-benefit analysis template should have a section for intangible costs that quantifies every cost item while adding them to the calculation
  4. Benefits: An itemized list of the expected benefits resulting from the project. It should help identify and classify all benefits, such as financial gains, productivity or efficiency boosts, cost savings, strategic advantage, and every positive outcome. The cost-benefit analysis template should also allow quantifying intangible benefits such as increased customer satisfaction, referrals, etc.
  5. Time frame: The cost-benefit timeline helps calculate, project, and benchmark the present and future values of costs, benefits, and benefit-cost ratio
  6. Discount rate: Discount rate represents the monetary value of time by converting future costs and benefits into their net present value
  7. Net Present Value (NPV): NPV is the difference between the total cost and benefit after adjusting the values for the discount rate
  8. Return on Investment (ROI): ROI is the percentage depiction of the cost-benefit ratio obtained by multiplying it by one hundred. It represents the profitability of the investment, decision, or action
  9. Risk assessment: This part of the cost-benefit analysis template elaborates on the potential risks that could afflict the expected costs and benefits. It also includes various risk mitigation strategies to neutralize their effects
  10. Sensitivity analysis: Outlines the multiple assumptions, control elements, and fixed variables involved in the cost-benefit analysis. It offers a peek into the sensitivity and robustness of the cost-benefit analysis methodology while highlighting the possible impact of a change in these values
  11. Recommendations: A comprehensive and cross-sectional list of recommendations on whether the individual or organization should proceed with the project or investment decision or otherwise
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10 Cost-Benefit Analysis Templates to Use in 2024

Now that you have a basic understanding of a cost-benefit analysis template and its underlying components let’s dive into a few templates that can power effective project management:

1. ClickUp Cost-Benefit Analysis Template

Cost-benefit analysis on a whiteboard using ClickUp

The ClickUp Cost-Benefit Analysis Template is a highly versatile tool designed to assist financial analysts in evaluating the financial implications of key business decisions. Use this simple cost-benefit analysis template to reach strategic decisions, like whether to launch a product or invest in project management tools and how they will benefit your business. 

Some key features of the ClickUp cost-benefit analysis template include:

  • Track the progress of every step in the analysis meticulously with custom statuses like ‘Open’ or ‘Complete’   for transparency and clarity 
  • Leverage custom fields to categorize and add attributes to various tasks, enhancing the structured approach to cost-benefit analyses
  • Use custom views as a function of the Cost or Benefit to gain perspective into various focus areas while offering flexibility to switch between the two for a holistic understanding

In addition to the above features, the template supports collaborative working, integration with AI and automation, and continuous monitoring and analysis to improve decision-making.

2. ClickUp Cost Analysis Template

Detailed cost analysis on ClickUp

The ClickUp Cost Analysis Template is necessary to monitor financial health, streamline processes, and make them financially viable. It takes a comprehensive look at the project’s cost —including the direct costs and indirect costs. In addition to the standard features of custom statuses, fields, and views, this template also offers:

  • Real-time cash flow monitoring in six different custom views in configurations of cost variables, benefit variables, current year cost profile, analysis, etc.
  • An overview of the actual costs of the project for a smarter and more comprehensive decision-making process
  • Single-dashboard cost impact assessment for quick access to data-backed decisions
  • Data-driven insights for efficient resource allocation to maximize resource utilization throughout the project lifecycle
  • The tradeoff between business objectives and financial capabilities for practical viability

The template also offers insight into areas for cost reduction and possible roadblocks to cost efficiency, which can be instrumental in maintaining business profitability and maximizing benefits.

3. ClickUp Production Cost Analysis Template

A cost analysis report on ClickUp Docs

If your organization is involved in the production process of products or services, then the ClickUp Production Cost Analysis Template is an invaluable asset. This cost-benefit analysis goes beyond traditional cost analysis by factoring in all the costs, like labor costs, opportunity costs, etc., that go into production. This quality makes this cost-benefit analysis template useful for building complete project budget proposals.

Some of its key features include:

  • Expense identification and categorization by thoroughly examining material, labor, and overhead costs, as well as quality control measures
  • Cost-effectiveness by granting detailed insights into the different cost components that allow businesses to visualize and analyze data related to costs and benefits
  • Budget evaluation to track how current project costs match up to predicted potential costs for prudent financial management
  • Identification of inefficiencies in production cycles using key metrics and KPIs. The resulting interventions will reduce waste and improve efficiency to maximize benefits
  • Real-time visualization tools to display the impact of changing prices on the future value of production costs

The above template will infuse a systemic approach to your production cost analysis and help you make informed decisions.

4. ClickUp Project Cost Analysis Template

Project cost-benefit analysis made easier with ClickUp

The ClickUp Project Cost Analysis Template is essential to every project manager’s arsenal. It offers a reliable framework for project managers to track and analyze project costs to maintain profitability. It makes project management more data-driven with the following offerings:

  • Granular expense monitoring captures all expense-related details, such as the number of units, cost per unit, and the total cost for each task or item. Such itemized calculation keeps a tab on the financial health of your project
  • Comprehensive project budget monitoring to track and analyze project-related costs and maximize the ROI
  • Compatibility with multiple projects, allowing the project manager to perform cross-project cost-benefit analyses for richer insights and improved decision-making. Such insights allow managers to identify trends, patterns, and areas of improvement from historical data to strengthen financial management
  • Forecasting using predictive modeling to power data-driven decisions to ensure that the project stays within the budget. The futuristic aspect of the project costs fuels proactive financial management to prevent cost overruns

Use this cost analysis template from the project planning to maximize financial benefits.

5. ClickUp Monthly Expense Report Template

Centralize monthly expenses over ClickUp

As the name suggests, use the ClickUp Monthly Expense Report Template to document, track, and analyze monthly expenses. This template is helpful as a process standardization tool as you monitor all tangible and intangible costs month after month.

Some of the key features and benefits of this template include:

  • Ability to document all your expenses in a centralized location and leverage powerful analytics to visualize detailed expense reports
  • Spend analysis tool to track expenses, analyze historical data, and spending patterns to make informed predictions on future financial gain based on present value
  • Increased transparency into financial decisions, cost estimations, budget tracking, financial progress, and more
  • Visibility into cost-saving opportunities that can optimize financial resources and cut down wasteful expenditures

This cost-benefit analysis template can improve your organization’s financial health as it supports monthly expense tracking and management for greater profitability.

6. ClickUp Business Expense and Report Template

Track all business expenses using ClickUp

While running a large business or an enterprise, tracking all expenses made by different teams or team members can be challenging. The ClickUp Business Expense and Report Template streamlines the process of tracking, managing, and reporting such company expenses.

It offers the following:

  • Seamless expense submission across different departments, teams, and individuals to make expense reporting more collaborative
  • Gain a 360-degree view of all your business expenses through detailed expense reports to track all expenses and identify cost savings
  • Data visualization tools to display spending patterns and trends. Visualization makes vital information accessible and supports informed, cross-sectional decision-making
  • Track how your business expenses fare against the projected expenses. Such real-time monitoring facilitates the implementation of cost-mitigation strategies to maintain financial stability

Most importantly, this cost-benefit analysis template is instrumental in maintaining compliance with any financial regulation. For a solution that tracks company expenses, offers savings opportunities, forecasts future costs, and enforces compliance, this Business Expense and Report template is the way to go.

7. ClickUp Project Cost Management Template

Manage project costs with ClickUp’s Project Cost Management Template

The ClickUp Project Cost Management Template is another indispensable tool for project managers to track and manage expenses across various projects. Designed by the experts at ClickUp, this template grants real-time visibility, performance visualization, and optimization insights for project cost management.

Its key features include

  • High-level budget tracking beyond traditional calculator methods or spreadsheets. The template can automatically calculate costs and compare them to allocated budgets
  • Cross-project resource allocation based on data-driven insights, for when you have limited resources spread across different projects
  • View the cost performance in real-time and manage unexpected risks and uncertainties such as scope creep, force majeure, etc.
  • Recalibrate budget estimates based on real-time progress, expenditure, and financial condition of the project

This project cost management template is highly versatile and can be used for various projects—from software development to construction, manufacturing, and more!

8. ClickUp Expenses Report Template

Pay employees, vendors, and contractors on time with ClickUp

While the Expense and Report template discussed previously was more aligned with the requirements of large businesses and enterprises, this ClickUp Expenses Report Template is for businesses of all shapes and sizes. You can even use this template for personal finance management to track your expenses.

As a centralized platform for comprehensive expense tracking and management, it has the following to offer:

  • Forecasting based on past spending patterns and trends to optimize budget planning and anticipate future expenses
  • Spend analysis to grant visibility to your spending patterns and identify areas for cost savings
  • Vendor and contractor payment tracking to ensure that you don’t miss any single payment while minimizing follow-ups and instilling confidence
  • Timely and accurate reimbursements to employees with a robust mechanism to review and approve expenses

Use this cost-benefit analysis template to make your business more profitable.

9. Excel Enterprise Cost Analysis Statement Template by WPS Template

Enterprise Cost Analysis Statement Template in Excel
Enterprise Cost Analysis Statement Template in Excel via WPS Template

The Excel Enterprise Cost Analysis Statement Template from WPS Template is a comprehensive tool to manage and dissect all the costs across different operations and departments within your enterprise. Available as an Excel template, this cost-benefit analysis template offers structure to your cost-benefit analysis activities and makes all expenses traceable and accountable.

The template also translates all the calculations and findings into interactive bar graphs, pie charts, and other visual forms to represent the enterprise’s financial health. 

Unlike the different templates discussed above, this offers limited customization. However, whatever it does offer is sufficient for a simple cost-benefit analysis.

10. Excel Cost-Benefit Analysis Template by Exceltemp

Cost-Benefit Analysis Template in Excel
Cost-Benefit Analysis Template in Excel via Exceltemp

This Excel Cost-Benefit Analysis Template is another option to consider if you prefer to use Microsoft Excel in project planning and cost-benefit analysis. It is a highly visual template that automatically converts all the entered data into visual elements like graphs, charts, etc., to make all the financial reports easy to comprehend.

This template replicates a dashboard that visually depicts all the cost-benefit analysis parameters, such as the different cost categories, monetary value of cost, direct and indirect benefits, etc.

Unfortunately, due to the limited scope of Excel spreadsheets, you cannot extract additional features like project management abilities like the ClickUp templates. 

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Translate Every Cost into Benefit With ClickUp

That’s a wrap on cost-benefit analyses. Use the above free tools responsibly to convert project ideas into financially viable business models, attracting an array of benefits. Configure these templates to match your requirements to convert business opportunities and reduce wasteful costs.

Also, if you’re looking for a one-stop cost-benefit analysis tool equipped with powerful project management features and cloud-based functionality, then ClickUp is the perfect option.

From remote accessibility to a user-friendly interface to real-time analytics, the platform takes regular cost-benefit analysis to a new plane. Schedule a demo to discover more.

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