How Long to Read A Guide to Understanding Cost-Benefit Analysis

How Long Does it Take to Read A Guide to Understanding Cost-Benefit Analysis?

It takes the average reader to read A Guide to Understanding Cost-Benefit Analysis by Donald N. Stengel

Assuming a reading speed of 250 words per minute. Learn more

Description

Governments, corporations, and nonprofit agencies regularly embark on large projects and programs that require significant sums of money and have major impacts, both positive and negative. Since the funds used to execute these projects are limited, the stakeholders of the organizations that pursue such projects need justification that the funds are being used effectively and deserve funding more than competing projects. Cost-benefit analysis is a set of techniques for assessing the benefits and costs of a project and measuring its worthiness. The text presents the fundamentals of cost-benefit analysis, with particular emphasis on aiding readers of cost-benefit analysis reports to better understand the rationale behind the tables, graphs, and conclusions that appear in those reports, as well as to be able to critically assess the impact of the assumptions being made. The main challenge of any cost-benefit study is how to measure the costs and benefits in monetary units. We address methods typically used for assessment of both direct and indirect effects of projects, as well as both economic and non-economic impacts. Two other key challenges in a cost-benefit study are timing and uncertainty. A dollar of benefits in several years is generally not viewed as sufficient return for incurring a dollar of cost today. To measure the net impact of a project, future costs and benefits need to be adjusted in order to be compared to current costs. Discount rates are a common tool for making these adjustments in cost-benefit analysis and are addressed here. While costs and benefits can be quantified, they remain estimates and are likely to be in error due to future uncertainty. A good cost-benefit analysis will explicitly consider the potential for, and possible consequences of, uncertainty. Cost-benefit analysis is often applied in public sector decisions where there are proponents and opponents. As such, cost-benefit analyses generally become part of a politically-charged dialogue and are viewed by advocates as either an ally to be touted or an adversary to be discredited. We discuss the interaction between cost-benefit analysis and politics. A main thesis of this book is that these political processes can be improved if those involved have a good understanding of the strengths and limitations of cost-benefit analysis.

How long is A Guide to Understanding Cost-Benefit Analysis?

A Guide to Understanding Cost-Benefit Analysis by Donald N. Stengel is 0 pages long, and a total of 0 words.

This makes it 0% the length of the average book. It also has 0% more words than the average book.

How Long Does it Take to Read A Guide to Understanding Cost-Benefit Analysis Aloud?

The average oral reading speed is 183 words per minute. This means it takes to read A Guide to Understanding Cost-Benefit Analysis aloud.

What Reading Level is A Guide to Understanding Cost-Benefit Analysis?

A Guide to Understanding Cost-Benefit Analysis is suitable for students ages 2 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

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