Discuss about the cost-benefit relationship


Answer each qestion with a brief description:

This unit's assignment includes developing a problem statement for your OIP. An important step in this development is to clearly identify the problem.

Consider problem statements as you respond to the following:

In the development of a problem statement, what are some components you consider important when identifying the real causes of a problem?

How would you describe a problem in a way that is clear to the management team that will be evaluating the OIP?

Why is it important to keep your audience in mind as you determine what level of information and detail is appropriate?

What role does the cost-benefit relationship play as you frame the problem and proposed opportunity?

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Operation Management: Discuss about the cost-benefit relationship
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