Final answer:
Activities in benefits analysis and planning include defining program priorities, monitoring key performance indicators, and establishing a performance baseline, but not creating the benefits management plan for future work. A benefits analysis often uses a Cost Benefit Analysis chart to weigh costs against benefits for informed decision-making.
Step-by-step explanation:
Activities that make up benefits analysis and planning include several important processes, but one task that is not typically included is:
- Defining and prioritizing program components and their interdependencies.
- Collecting the key performance indicators and associated quantitative measures required to effectively monitor the delivery of program benefits.
- Establishing the performance baseline for the program and communicating program performance metrics to key stakeholders.
However, establishing the benefits management plan that will guide the work through the remainder of the program is a part of the benefits analysis and planning process. It's crucial to understand that benefits analysis involves weighing the costs and benefits of a potential decision. The costs could be in the form of money, effort, or other sacrifices, while the benefits could include gains such as money, time, experience, or other improvements.
When conducting a benefits analysis, stakeholders may utilize tools like a Cost Benefit Analysis, a T-shaped chart where costs are listed on one side and benefits on the other. This analysis helps in making informed decisions that consider both the benefits and sacrifices involved. For instance, in community decision-making, like the example of building a new community pool, conducting a benefits analysis would help various stakeholders like renters, homeowners, business owners, and families to evaluate the potential impact and make a choice that aligns with their individual needs and values.