https://gprjournals.org/journals/index.php/jpms <p><strong>Journal of Project Management Studies</strong> (JPMS) is a refereed journal aiming to provide academically robust researches associated with project management studies and published by GPR Journals. The scope of JPMS include, but not limited to, Project Consulting &amp; Professional Services, Infrastructure &amp; Systems Delivery, Manufacturing, Project Planning, Monitoring &amp; Evaluation, Project Stakeholder Management and Project Implementation to a targeted and multidisciplinary audience on a global scale. Manuscripts submitted to this journal are published online and can be printed as hard copies upon author’s request. Papers can be submitted via email to <a href="mailto:journals@gprjournals.org" target="_blank" rel="noopener">journals@gprjournals.org</a> or <a href="https://gprjournals.org/online-submission/">online submission</a>.</p> Global Peer Reviewed Journals en-US Journal of Project Management Studies 2958-5279 <p><em>The authors retain the copyright and grant this journal right of first publication. This license allows other people to freely share and adapt the work but must give appropriate credit, provide a link to the license, and indicate if changes were made. They may do so in any reasonable manner, but not in any way that suggests the licensor endorses them or their use.</em></p> https://gprjournals.org/journals/index.php/jpms/article/view/183 <p><strong>Aim:</strong> The aim of this study was to examine the impact of cost-benefit analysis on project performance.</p> <p><strong>Methods:</strong> &nbsp;The study was a thematic review of literature on effect of Cost-Benefit Analysis&nbsp; on Project Performance. Included in the review were data-based research articles, along with other articles containing helpful recommendations for improving project outcomes.</p> <p><strong>Results:</strong> The study found that cost-benefit analysis plays a crucial role in enhancing project performance by enabling project managers to make informed decisions based on a comprehensive understanding of costs and benefits associated with various project alternatives. This approach helps to prioritize resources and investments, reducing the likelihood of cost overruns and schedule delays. Additionally, cost-benefit analysis contributes to improved stakeholder communication and alignment, as it facilitates a transparent and quantifiable understanding of the project's value proposition. However, the study also identified challenges in implementing cost-benefit analysis, such as the need for accurate data, the difficulty in quantifying intangible benefits, and the potential for biases in decision-making.</p> <p><strong>Conclusion:</strong> Cost-benefit analysis can significantly improve project performance, but its effectiveness depends on addressing the inherent challenges and ensuring that decision-makers have access to accurate and reliable information. To maximize the benefits of cost-benefit analysis, organizations must invest in developing robust methodologies, fostering a culture of data-driven decision-making, and continuously refining their processes based on lessons learned from past projects.</p> <p><strong>Recommendation:</strong> Project managers, decision-makers, and stakeholders should focus on establishing accurate data collection methods, developing strategies to quantify intangible benefits, and addressing potential biases in the decision-making process. Moreover, organizations should invest in training and capacity-building to ensure that cost-benefit analysis is effectively integrated into project planning and management processes. Further research is also needed to explore the application of cost-benefit analysis in diverse project settings and to better understand its long-term effects on project performance.</p> Ernest Whitman Henry A Brown Patricia N Meyer Copyright (c) 2023 Journal of Project Management Studies 2023-07-06 2023-07-06 1 1 1 12