Provide ananalysis of the impact of costs for an organization, to include the following:

• Describe an example of a sunk cost or opportunity cost from your current or past professional career, including why it would be either defined as a sunk cost or an opportunity cost.
• Analyze the impact that this cost had on the organization, including how the main stakeholder(s) were affected by this situation.
• With an understanding of sunk or opportunity costs, propose how you, as the manager, might address this scenario differently.

1.Sunk Costs and Opportunity Costs

provides a thorough and detailed description of an example of a sunk cost or opportunity cost from their current or past professional career, including why it would be either defined as a sunk cost or an opportunity cost.

2. The Impact of Costs

Give a thorough and detailed analysis of the impact that this cost had on the organization, including how the main stakeholder(s) were affected by this situation

3.Addressing a Scenario with Sunk Costs and Opportunity Costs

provides a thorough and detailed proposal of how they, as the manager, might address this scenario differently with an understanding of sunk or opportunity costs.

Reference and citations

Answer rating: 100% (QA)

1 Sunk Costs and Opportunity Costs In my past professional career as a project manager I encountered a situation that involved both sunk costs and opportunity costs We were working on a software devel... View the full answer