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Opportunity Cost

The value or benefit you give up by choosing one project instead of the next-best alternative.

Key Points

  • Equal to the benefit of the best rejected option (e.g., NPV, ROI, or expected value).
  • Applied when options are mutually exclusive and have comparable risk and timing.
  • It is not a cash outflow; it is an economic comparison to guide selection.
  • Do not include sunk costs; focus on future benefits you forgo.

Example

A portfolio team can fund either Project A with expected benefits of USD 1.2M or Project B with USD 900k. They select Project A. The opportunity cost of choosing A is USD 900k, the value of the best alternative they did not pursue.

PMP Example Question

A sponsor must choose between two mutually exclusive projects: Alpha with an NPV of USD 500,000 and Beta with an NPV of USD 420,000. If the sponsor selects Alpha, what is the opportunity cost?

  1. USD 80,000
  2. USD 420,000
  3. USD 500,000
  4. USD 920,000

Correct Answer: B — USD 420,000

Explanation: Opportunity cost is the value of the best alternative not chosen, which is the NPV of Beta (USD 420,000).

Leadership for Project Managers Course

Lead with clarity, confidence, and real impact. This Leadership for Project Managers course turns day-to-day challenges—unclear priorities, tough stakeholders, and cross-functional friction—into opportunities to guide teams and deliver outcomes that matter.

You’ll learn practical leadership skills tailored to project realities: setting direction without overcontrol, creating alignment across functions, and building commitment even when authority is limited. We go beyond theory with tools you can use immediately—one-sentence visioning, stakeholder influence maps, decision framing, and feedback scripts that actually land.

Expect hands-on frameworks, real-world examples, and guided practice to prepare for tough moments—executive readouts, resistance from stakeholders, and high-stakes negotiations. Downloadable templates and checklists keep everything actionable when the pace gets intense.

Ready to influence without waiting for a bigger title? Join a community of ambitious PMs, sharpen your edge, and deliver with purpose—project after project.



Lead with clarity, influence, and outcomes.

HK School of Management brings you a practical, no-fluff Leadership for Project Managers course—built for real projects, tight deadlines, and cross-functional teams. Learn to set direction, align stakeholders, and drive commitment without relying on title. For the price of a lunch, get proven playbooks, and downloadable templates. Backed by a 30-day money-back guarantee—zero risk, high impact.

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