A cost-benefit analysis (CBA) is a fundamental and systematic process used in project management to evaluate the viability of a project. It provides a data-driven framework to compare the total expected costs of an AI solution against its total expected benefits. This quantitative approach allows stakeholders to assess the return on investment (ROI) and compare it directly to noncognitive alternatives. By translating the advantages of AI (e.g., improved accuracy, automation, predictive insights) and its costs (e.g., data acquisition, model development, infrastructure) into financial terms, the CBA offers a clear, objective justification for choosing the AI approach based on business value rather than subjective factors.

A. Emphasizing the simplicity and reliability of noncognitive solutions would argue against adopting the AI approach, not support it.

C. Focusing on novelty and technological appeal is a weak justification that can lead to "AI for AI's sake," ignoring actual business value.

D. Relying only on industry trends is insufficient; a justification must be specific to the organization's unique problem, context, and expected value.

1. Buttrick, R., & Buttrick, B. (2020). Project Management for the AI Century. Project Management Institute. In Chapter 3, "The Business Case," the authors state, "Whatever the project, you need a business case... It should contain a financial appraisal showing that the project is a worthwhile investment." This section details the necessity of financial justification, with cost-benefit analysis being a core component for any project, including AI.

2. Davenport, T. H., & Ronanki, R. (2018). Artificial Intelligence for the Real World. Harvard Business Review, 96(1), 108-116. The article emphasizes that successful AI initiatives begin with a clear business problem and a strong business case, not with the technology itself. It cautions against projects driven by "a desire to play with a shiny new toy" (novelty) and instead advocates for projects with clear, measurable business outcomes, which is the goal of a cost-benefit analysis.

3. Project Management Institute. (2015). Business Analysis for Practitioners: A Practice Guide. Section 5.1.3, "Develop Business Case," outlines that the business case is used to "justify the investment required to deliver a proposed solution." It details the inclusion of a cost-benefit analysis as a key element to provide this justification.