How can I do a cost and benefit analysis for an attendance monitoring system?

List setup and running costs: analysis, implementation, capital investment, time, consumables, etc. List benefits: time saved, improved attendance, improved results. Put a monetary value to each cost and benefit. Capital and running costs. Labor costs need to include the person's pay rate, taxes and overheads in employing them. Costing intangible benefits is much harder and will depend on the system you are working in. For a school, increased attendance increases pass rates that may carry direct funding or may need to have a perceived value attached. In business, improving attendance may negate the need to pay for cover or may increase productivity and profitability.