Business owners regard cost analysis results to calculate financial progress and take business decisions. The purpose of this financial technique is meant to educate the costs and benefits based on common metrics. Here is another advantage with this cost analysis template – it tells you if the project is feasible or not.
How are Cost Analysis Templates used?
The use of these is not the same everywhere. Businesses use the templates to assess the expenses and savings and plan strategies better for the subsequent fiscal year or they use them before approving a work order template submitted by the contractor. On the other hand, NGOs and public sector firms use cost analysis technique to study the attractiveness of a policy.
With these differences in place, you probably would have understood now that their structures and field values also vary. You need separate analysis templates to create the ideal plan.
1. Simple Cost Benefit Analysis Template
If you are new to financial analysis and statements, these templates are a perfect choice. It has two sheets in it – one for filling the data and the other to obtain the summary of the data. This template is ideal for an office that needs a template that is easy to use and evaluate the outcomes. It has several other benefits such as time management, proper process and more.
2. Detailed Job Analysis Template
Sometimes, there is a need to compare the standard costs to actual costs and use the production variance to determine the profitability of individual job and net basis. Let’s say you have bought in the new stock of 50 items and bills are available for each one of them. It is possible to see if the job costing is done right and the stocks are purchased at the right value.
This one has multiple sheets like stock code, job details, and job review and is user-friendly so data can be appended at an ease.
3. Cost Analysis for IT Projects
As already said, there is a variable change for every project depending on the industry background and project-specific requirements. This template is created in particular to the IT industry projects and allows the user to update the sheet for every iteration of the project. Let’s say there is a sudden change in the specification and additional costs are incurred. You can always update in this template and it will inform if the project is on the profitable phase or not. If it’s not profitable, you can lay off the non-performing employees using an employee write up form we have.
4. Cost Comparison Analysis Templates
Have you performed better this year on a specific aspect? Are you on the right phase? Stop doing it manually. The purpose of this one is to compare the trends between years on specific variables. Alternatively, you can use it to compare the quotes received from vendors for a project and choose the best from it. It is accurate and simple to use.
5. Cost Benefit Analysis Template For Construction Industry
This free sample benefit analysis template is a boon to people in the construction industry as it is detailed and has all the elements in it such as tender analysis, new building costs for houses/schools, the building of fixtures and working on the existing structure. With the numerous options available for benefit analysis, users can choose the sheet and directly begin with the analysis to understand if there are any deviations. All rights reserved.
6. Cost Benefit Analysis Template In Word
What is the benefit associated with a particular investment? These analysis templates give you the answer to this question. Let’s say you have invested $10,000 as costs towards a project and there are variable costs associated with it. How do you know if you are yielding the expected benefits from it? It lets you analyze your investment in detail and maximize the profitability on your terms.
7. Cost Volume Profit Analysis Template
This free analysis template helps you to understand how changes in certain costs can help you achieve the break-even and also maximize the profitability rate. It requires basic inflow and outflow details and it provides a chart that shows the trend of profit and guides you to make better business decisions.
8. Costs Analysis Chart
Assume that your organization has taken certain action towards the next project and performs an analysis to find out which one is the best! It is practically impossible to identify without assessing the risks and costs associated with it. If you want a free sample template that will be handy to take decisions and list alternatives, then this is for you.
9. Revenue per employee template
It is a must-have by all HRs in a business organization as it analyzes the results of every employee (financially) and lets the HR to decide if the employee has to be retained. The employee’s performance is analyzed here for a period of one year and it is acceptable for HR managers to input data of as many employees as they want.
10. Cost Analysis For Market Research
If you are an NGO looking forward to kickstarting a social initiative, business market research is the first step to understand if it is feasible and essential to people. Before you submit the project proposal to stakeholders, download this template as it has separate fields for every research activity along with the costs incurred. This structure enhances transparency and is easy to use too.
How To Create Your Own Cost Analysis Template?
Cost analysis template generally involves many calculations and to create one, the spreadsheet excel software is the perfect tool. Identify the mission of the project and the variables that will influence the project in different instances. Now, take one of the templates given above to find out the formula and add the same to yours. At the end of your calculation, you may have to give the results in the form of a chart.
Remember to create a template that is customized for your project and not a generic one and has all the legal copyright mentioned in it.
Conclusion
Cost analysis templates are extremely useful to develop policies in business, invest in new projects, establish working standards and take decisions for the company’s welfare. You need a template because the cost analysis process is quantitative and mathematical calculations are involved in it. However, the cost benefit analysis charts will always help you to understand if your decision supports the organization positively.
