You have completed your planning and there are a number of potential interventions that appear on the surface to have equal merit and yet not all can be completed with your resources?
How do you decide which is going to be the best value to pursue?
An economic impact analysis or a cost benefit analysis can help you determine which of your interventions are best value and therefore have priority. The step by step guide below, along with examples, are aimed at the first time user.
Cost Benefit Analysis
What is it?
Cost-benefit analysis is a tool for assessing whether or not the input costs of an activity can be justified by the outputs and outcomes. … [more]
Economic Impact Analysis
An economic impact assessment is a useful tool for understanding the potential economic benefits of your proposed intervention.
It is best used following consultation to determine best value interventions. Below you will find the important concepts used within an EIA, some examples of an EIA and a “how to” guide. … [more]