What data analysis technique is utilized to assess the feasibility of change requests?

• A. SWOT analysis
• B. Cost-benefit analysis
• C. Fishbone diagram
• D. Benchmarking

Answer: (B)

The choice of cost-benefit analysis as the appropriate data analysis technique for assessing the feasibility of change requests is particularly relevant. This method involves evaluating the potential costs and benefits associated with a proposed change, allowing project managers and stakeholders to make informed decisions.

When a change request is submitted, it is crucial to determine not just whether the change can be implemented, but also if the advantages outweigh the costs. Cost-benefit analysis systematically lists and quantifies all possible benefits—such as improved efficiency, increased value, or enhanced scope—against all relevant costs, which may include resource expenditure, time delays, and potential risks. By comparing these factors, one can ascertain whether the change aligns with the project’s objectives and whether it warrants approval.

In contrast, the other data analysis techniques do not specifically focus on assessing the feasibility of change requests in the same focused manner. For example, SWOT analysis is used for strategic planning and identifying strengths, weaknesses, opportunities, and threats but does not directly quantify financial impacts. The fishbone diagram serves as a tool for root cause analysis, identifying potential causes of problems but not evaluating the viability of changes. Benchmarking involves comparing processes or performance metrics against best practices but does not provide a direct evaluation of a specific change request's feasibility.