How do you know which project is more profitable for your business?

Sofia KazmiSofia Kazmi Posts: 20subscriber Bronze Level Member
How can you be sure which project can turn out to be profitable for your business? 

Comments

  • Tuah BaoTuah Bao Posts: 118subscriber Silver Level Member
    You cannot be 100% sure about the result, what you can do is just estimate, and make appropriate assumptions to develop a plan for each project. For example: what are you direct and indirect cost, and sunk cost. What are the best, and worse scenario?

    Then analyze the potential outcome of each plan. Depends on your characteristic, risk averse or risk taker. You may select the "high risk, high return" project, or "lower risk with lower return" project. 
    Tuah Bao
    Accountant & Marketing Consultant
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