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cost-benefit analysis |
Also found in: Medical, Financial, Wikipedia, Hutchinson | 0.06 sec. |
cost-benefit analysisIn governmental planning and budgeting, the attempt to measure the social benefits of a proposed project in monetary terms and compare them with its costs. The procedure was first proposed in 1844 by Arsène-Jules-Étienne-Juvénal Dupuit (1804–66). It was not seriously applied until the 1936 U.S. Flood Control Act, which required that the benefits of flood-control projects exceed their costs. A cost-benefit ratio is determined by dividing the projected benefits of a program by the projected costs. A wide range of variables, including nonquantitative ones such as quality of life, are often considered because the value of the benefits may be indirect or projected far into the future. |
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Increased CRTs are associated with impairment of tasks performance, such as driving, that can be monetized for benefit-cost analysis. and benefit-cost analysis, nonparticipation by eligible units may be a rational, optimal choice. In order to provide a guide to the kinds of data needed to solve problems of outdoor recreation benefit-cost analysis, one of the commission studies developed an analytical framework to assist in the orderly planning and development of recreation facilities. |
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Benefit-cost analysis
