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1、EGR403-CalPolyPomona-SA121WhatisaBenefit-CostRatio?Abenefit-costratio(BCR)isanindicator,usedintheformaldisciplineofCost-BenefitAnalysis,,thatattemptstosummarizetheoverallvalueofmoneyofaprojectorproposal.ABCRistheratioofthebenefitsofaprojectorproposal,expresse
2、dinmonetaryterms,relativetoitscosts,alsoexpressedinmonetaryterms.Allbenefitsandcostsshouldbeexpressedindiscountedpresentvalues.EGR403-CalPolyPomona-SA122Intheabsenceoffundingconstraints,thebestvalueformoneyprojectsarethosewiththehighestnetpresentvalue.Whereth
3、ereisabudgetconstraint,theratioofNPVtotheexpenditurefallingwithintheconstraintshouldbeused.Inpractice,theratioofNPVtoexpenditureisexpressedasaBCR.BCRshavebeenusedmostextensivelyinthefieldoftransportcost-benefitappraisals.TheNPVshouldbeevaluatedovertheservicel
4、ifeoftheproject.AmajorshortcomingofBCRsisthat,bydefinition,theyignorenon-monetizedimpacts.AttemptshavebeenmadetoovercomethislimitationbycombiningBCRswithinformationaboutthoseimpactsthatcannotbeexpressedinmonetarytermsAfurthercomplicationwithBCRsconcernsthepre
5、cisedefinitionsofbenefitsandcosts.Thesecanvarydependingonthefundingagency.EGR403-CalPolyPomona-SA123Cost-benefitanalysisCost-benefitanalysisisatermthatrefersbothto:helpingtoappraise,orassess,thecaseforaprojectorproposal,whichitselfisaprocessknownasprojectappr
6、aisal;andaninformalapproachtomakingdecisionsofanykind.Underbothdefinitionstheprocessinvolves,whetherexplicitlyorimplicitly,weighingthetotalexpectedcostsagainstthetotalexpectedbenefitsofoneormoreactionsinordertochoosethebestormostprofitableoption.Theformalproc
7、essisoftenreferredtoaseitherCBA(Cost-BenefitAnalysis)orBCA(Benefit-CostAnalysis).Thecost-benefitanalysisisexplicitlydesignedtoinformthepracticaldecision-makingofenterprisemanagersandinvestorsfocusingonoptimizingtheirsocialandenvironmentalimpacts.EGR403-CalPol
8、yPomona-SA124Cost–benefitanalysisistypicallyusedbygovernmentstoevaluatethedesirabilityofagivenintervention.Itisananalysisofthecosteffectivenessofdifferentalternativesinordertoseewhetherth
