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THE BENEFIT OF COST-BENEFIT ANALYSIS

C H Lerma

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Abstract

Cost-benefit analysis (CBA) is a tool used in making decisions related to purchases of new technology and other capital items. It is a way to quantify the costs and benefits associated with various projects. CBA is particularly useful in the decision making process for public agencies to determine if the public resources entrusted are being used efficiently. This tool can be used by transit systems to determine the benefits of various projects, including new technology, to enable the decision makers to determine the best uses for the limited funds available. The paper provides a list of steps that will be useful in the preparation of a CBA and includes a case study of a completed CBA as an example.

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What this paper is about

Cost-benefit analysis (CBA) is a tool used in making decisions related to purchases of new technology and other capital items. It is a way to quantify the costs and benefits associated with various projects. CBA is particularly useful in the decision making process for public agencies to determine if the public resources entrusted are being used efficiently. This tool can be used by transit systems to determine the benefits of various projects, including new technology, to enable the decision makers to determine the best uses for the limited funds available. The paper provides a list of steps that will be useful in the preparation of a CBA and includes a case study of a completed CBA as an example.

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Available abstract

Cost-benefit analysis (CBA) is a tool used in making decisions related to purchases of new technology and other capital items. It is a way to quantify the costs and benefits associated with various projects. CBA is particularly useful in the decision making process for public agencies to determine if the public resources entrusted are being used efficiently. This tool can be used by transit systems to determine the benefits of various projects, including new technology, to enable the decision makers to determine the best uses for the limited funds available. The paper provides a list of steps that will be useful in the preparation of a CBA and includes a case study of a completed CBA as an example.

Key concepts: Cost–benefit analysis, Risk analysis (engineering), Business, Process (computing), Capital cost, Computer science, Economics, Ecology

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