Participation in standardization costs time and thus money and additionally there are out of pocket costs. Is it worth this investment? This paper seeks to develop and test a method to calculate cost and benefits of participation. Companies can use such a calculation to prepare a decision whether or not to join, during the process whether or not to continue, and afterwards to evaluate if the overall benefits outweigh the cost. Academic researchers can use the same method to analyze impacts of standardization projects.

Additional Metadata
Keywords Calculation tool, Case research, Cost-benefit analysis, Iec, Participation, Payback period, Roi, Standardization
Persistent URL dx.doi.org/10.4018/IJSR.2017010101, hdl.handle.net/1765/112515
Series ERIM Top-Core Articles
Journal International Journal of Standardization Research
Citation
de Vries, H.J, & Veurink, J.L. (Joey L.). (2017). Cost-Benefit analysis of participation in standardization: Developing a calculation tool. International Journal of Standardization Research, 15(1), 1–15. doi:10.4018/IJSR.2017010101