The purpose of this paper is to describe how cost benefit analysis can be used as a tool for financial‐based decision making in digital library project management.
Using theory and example, the author discusses the use of cost benefit analysis in cases where the financial value of costs versus benefits must be considered.
Cost benefit analysis is useful as a tool for making project decisions based on financial considerations. However, given the inherent subjectivity of valuation of intangibles, the outcome of a cost benefit analysis is not absolute.
This paper fills a gap in the digital library project management literature by applying a tool that has been traditionally used in large‐scale, governmental project plans to the world of library project management. In doing so, project managers in libraries will be better prepared to make decisions based on financial considerations.
