What is Cost-Benefit Analysis
- Introduce the topic of cost-benefit analysis and its principles by using the following reading.
- Cost Benefit Analysis (CBA) is the process of quantifying costs and benefits of a decision, program, or project (over a certain period), and those of its alternatives (within the same period), in order to have a single scale of comparison for unbiased evaluation.
- CBA helps to analyse decisions by summing the benefits of a situation or action and then subtracting the costs associated with taking that action.
- Read the topic of cost-benefit analysis and its principles by using the following reading.
Stages of Cost Benefit Analysis