Tangible benefits are those measured in monetary terms and intangible benefits cannot be measured in monetary terms but they do have a very significant business impact.
Which are examples of tangible benefits of a project?
Here are few tangible benefits and examples.
- Increased Revenue.
- Resource Cost Savings.
- Hardware Cost Savings.
- Software Cost Savings.
- Productivity Gain.
- Process Improvements.
What are tangible and intangible costs?
Tangible costs are often associated with items that also have related intangible costs. A tangible cost is the money paid to a new employee to replace an old one. An intangible cost is the knowledge the old employee takes with them when they leave.
Which of the following is an example of an intangible benefit?
Examples of intangible benefits include: improved customer goodwill; improved employee morale; better service to community; and better decision making.
What is an intangible expense?
An intangible cost is an unquantifiable cost relating to an identifiable source. Intangible costs represent a variety of expenses such as losses in productivity, customer goodwill, drops in employee morale, loss of brand value or damage to corporate reputation.