How to Do a Cost-Benefit Analysis Reading Answers

Jul 19, 2024

How to Do a Cost-Benefit Analysis Reading Answers is an academic reading answers topic. How to Do a Cost-Benefit Analysis Reading Answers have a total of 7 IELTS questions in total. In the questions, you have to choose the correct heading for the given statements.

Candidates should read the IELTS Reading passage thoroughly to recognize synonyms, identify keywords, and answer the questions below. IELTS Reading practice papers, which feature topics such as How to Do a Cost-Benefit Analysis Reading Answers. Candidates can use IELTS reading practice questions and answers to enhance their performance in the reading section.

Check: Get 10 Free IELTS Sample Papers
Check: Register for IELTS Coaching - Join for Free Trial Class Now

Section 1

Read the Passage to Answer the Following Questions

How to Do a Cost-Benefit Analysis

Any time a work team is considering starting a new project, they must carefully consider whether or not the project is worthwhile. Teams should assess several important aspects of all new projects to determine whether or not to move forward.

It is important to identify the population that will be impacted by the project. Is this project designed to increase satisfaction in customers, or to help workers in some way? For that matter, which group of customers, workers, or other stakeholders will benefit from the effort?
It is also crucial to consider not only who will be impacted, but how many people will be impacted. When examining a project proposal, a work team should estimate the number of people who will see some sort of benefit if the project comes to fruition. Think carefully, and check your numbers with other people. Sometimes an initial estimate can be changed under further examination. (And of course, if the project impacts just a few individual people, it would need to have a very low cost.)
Once it is apparent who will be affected by a proposed action, look at the project in terms of the overall difference it could make. How much will a project change the experience of its target population?
Of course, it can be hard to measure the degree of change a project brings about without also looking at the specific changes that might be made. In other words, what specific changes will people experience on a personal level once the project is completed?
Projects need to not only be beneficial, but also affordable. Work teams should consider how much spending is needed to finish and implement a project, and weigh the expenditures against the possible benefits of the proposal.
Bear in mind that not all costs have an obvious price tag. If your team is considering undertaking a project, think of how much time must be spent completing it. Work hours have their cost as well!
Once a work team has done their best to weigh cost and benefits, team members should discuss exactly how much confidence they have in the estimates they've made. If employees have a lot of doubts about their predictions, more research may be needed to determine whether or not a project is viable.

Section 2

Solution and Explanation

Questions 22 - 28

The passage on page 25 has 7 sections, A-G.

Choose the correct heading for each section from the list of headings below.

Write the correct number, i-x.

What do project finances look like?
Is your team of analysts diverse enough?
Who will benefit most from the project?
Do your findings need to be investigated further?
What is the difference between one project and another?
How big is the target population?
How will the project impact individuals?
What is the duration of the project?
Is the impact of the project too personal?
What is the total impact on the target group(s)?

Section A

Answer: III
Supporting statement:“.......identify the population that will be impacted by the project. Is this project designed to increase satisfaction in customers, or to help workers in some way?.........”
Keywords: population, impacted
Keyword Location: para A, lines 1-2
Explanation: Section A focuses on identifying who will benefit from the project, whether customers, workers, or other stakeholders, aligning with the heading about who will benefit most from the project.Hence III is correct.

Section B

Answer: VI
Supporting statement:“........estimate the number of people who will see some sort of benefit if the project comes to fruition. Think carefully, and check your numbers with other people.........”
Keywords: people, benefit
Keyword Location: para B, lines 2-3
Explanation: Section B discusses estimating the number of people impacted, fitting the heading about the size of the target population. Hence the correct answer would be VI.

Section C

Answer: X
Supporting statement:“.......look at the project in terms of the overall difference it could make. How much will a project change the experience of its target population?.........”
Keywords:difference, target
Keyword Location: para difference, target
Explanation: Section C discusses the overall impact and the degree of change the project will bring to the target population. This matches the heading, because it considers the broad effects on the group.

Section D

Answer: VII
Supporting statement:“........measure the degree of change a project brings about without also looking at the specific changes that might be made. In other words, what specific changes will people experience on a
personal level once the project is completed?........”
Keywords:changes, personal
Keyword Location: para D, lines 1-3
Explanation: Section D focuses on the specific, personal changes that individuals will experience as a result of the project. This aligns with the heading, as it examines individual-level outcomes.

Section E

Answer: I
Supporting statement:“.......consider how much spending is needed to finish and implement a project, and weigh the expenditures against the possible benefits of the proposal..........”
Keywords:spending, expenditures
Keyword Location: para E, lines 1-2
Explanation: Section E deals with the financial aspects of the project, such as costs and expenditures. This fits the heading, because it involves analysing the financial viability and costs associated with the project.

Section F

Answer: VIII
Supporting statement:“.........think of how much time must be spent completing it. Work hours have their cost as well!........”
Keywords: time, cost
Keyword Location: para F, lines 1-2
Explanation: Section F highlights the time investment required for the project and the associated costs of work hours. This matches the heading, as it considers the time commitment necessary to complete the project.

Section G

Answer: IV
Supporting statement:“........discuss exactly how much confidence they have in the estimates they've made. If employees have a lot of doubts about their predictions, more research may be needed........”
Keywords: confidence, more
Keyword Location: para G, lines 1-2
Explanation: Section G focuses on the need to evaluate the accuracy of estimates and the possibility of conducting further research. This aligns with the heading, as it addresses the need for additional verification and confidence in the project's predictions.

Read More IELTS Reading Related Samples