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Cost–benefit analysis (CBA), sometimes also called benefit–cost analysis, is a systematic approach to estimating the strengths and weaknesses of alternatives.It is used to determine options which provide the best approach to achieving benefits while preserving savings in, for example, transactions, activities, and functional business requirements. [1]
The term "option value" and its theoretical underpinnings as a non-user benefit were initially developed in 1964 by Burton Weisbrod. [12] It was posited as an element of benefit distinct from the traditional concept of consumer surplus, and it depended on three factors: (1) uncertainty about future need for the asset, (2) irreversibility or high cost of replacement if the asset is lost, and (3 ...
Triple bottom line (TBL or 3BL) is an accounting framework widely adopted by large organizations since its introduction in 1994 by John Elkington. [9] Organizations can use it to evaluate their performance in a broader perspective to create greater business value [10] or to make decisions on where to allocate resources for the highest organizational return for all key stakeholders.
Participatory impact pathways analysis; PDCA; Phase-gate process; Precedence diagram method; Product breakdown structure; Product flow diagram; Program evaluation and review technique; Project anatomy; Template:Project cost estimation methods; Project cost management; Project management triangle; Project network
Techno-economic assessment or techno-economic analysis (abbreviated TEA) is a method of analyzing the economic performance of an industrial process, product, or service. The methodology originates from earlier work on combining technical, economic and risk assessments for chemical production processes. [ 1 ]
Least-cost planning methodology (LCPM), also referred to as least-cost planning (LCP) is a relatively new technique used by economists for making rational decisions about investments in transport and other urban infrastructure projects. It is based on cost–benefit analysis. However, it is more comprehensive in that it looks at not only the ...
A benefit–cost ratio [1] (BCR) is an indicator, used in cost–benefit analysis, that attempts to summarize the overall value for money of a project or proposal. A BCR is the ratio of the benefits of a project or proposal, expressed in monetary terms, relative to its costs, also expressed in monetary terms.
Cost-benefit analysis (CBA) serves as a fundamental tool within the framework of evidence-based legislation (EBL). By comparing the anticipated costs and benefits of a proposed legislative action, CBA provides policymakers with a quantitative method for decision-making.