Economic Analysis Template

Tuesday, September 13th 2022. | Sample Templates

Economic Analysis Template – Our Economic Analysis Ppt PowerPoint Templates packages are thematically designed to provide an interesting background to any topic. Use them to present like a pro.

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Economic Analysis Template

Economic Analysis Template

Use our Economic Analysis PowerPoint Ppt Templates Packs to help you save your valuable time efficiently. They are ready to fit any presentation structure. In business today, it’s important to get the most out of every idea, choice and investment. To achieve this, many organizations – from large enterprises to start-ups and small businesses – use cost-benefit analysis to help make critical decisions. Cost-benefit analysis can help teams determine the highest and best return on investment based on costs, resources and risk.

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In this article, we’ll walk you through the cost-benefit analysis process and provide insight and advice from industry experts. They provide insight into the risks and uncertainties you need to be aware of when working, and provide real-world examples to demonstrate cost-benefit analysis in action.

Cost-benefit analysis (also called cost-benefit analysis) is a process by which organizations can analyze decisions, systems or projects, or determine the value of intangible assets. The model is built by identifying the benefits of the activity as well as the associated costs and subtracting the costs from the benefits. When completed, a cost-benefit analysis provides concrete results that can be used to make informed judgments about the feasibility and/or appropriateness of a decision or circumstance.

Organizations rely on cost-benefit analysis to support decision-making because it provides an agnostic, evidence-based view of the issue under consideration – uninfluenced by opinion, politics or bias. By providing a clear view of the consequences of a decision, a cost-benefit analysis is an invaluable tool for developing a business strategy, evaluating a new hire, or making resource allocation or purchasing decisions.

The first evidence of the use of cost-benefit analysis in business relates to the French engineer Jules Dupuit, who was a self-taught economist. In the mid-19th century, Dupuit used the basic concepts later known as cost-benefit analysis when determining the cost of a bridge project he was working on. Dupuit explained the principles of his valuation process in a paper written in 1848, and the British economist Alfred Marshall, author of the seminar text Principles of Economics (1890), further refined and popularized the process in the late 1800s.

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As previously mentioned, cost-benefit analysis is the basis of the decision-making process in various industries. In business, government, finance, and even the nonprofit world, cost-benefit analysis provides unique and valuable insights when:

Although there is no “standard” format for cost-benefit analysis, there are some basic elements in almost all analyses. Use the structure that works best for your situation or industry, or check out one of the resources and tools at the end of this article. We’ll go over the five basic steps to doing a cost-benefit analysis in the sections below, but first, here’s a high-level overview:

As with any process, it is important to work carefully through all the steps and not be tempted to cut corners or make assumptions about assumptions or “best guesses.” According to an article by Dr. Josiah Kaplan, former research fellow at the University of Oxford, it is important to make your analysis as comprehensive as possible:

Economic Analysis Template

“The best cost-benefit analysis includes a broad view of costs and benefits, including indirect and long-term impacts, that reflect the interests of all stakeholders who will be affected by the program.”

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When creating your cost-benefit analysis framework, first describe the proposed program or policy change in detail. Think carefully about how you stand in relation to the problem being solved. For example, an analysis asking “should we add a new professor to our team?” it would be much simpler than a broader program question like “should we address the gaps in our education provision?”

Once your program or policy change is clearly defined, you will need to develop a case study to review the current situation, including background, current performance, any opportunities outlined, and projected performance for the future. Also be sure to look objectively at any risks associated with maintaining the status quo.

Now decide how you will approach the cost benefit. What cost benefits should be included in your analysis? Include the basics, but also think a little outside the box to account for unexpected costs that could affect the project in both the short and long term.

In some cases, geography can play a role in determining the feasibility of a project or initiative. If the decision being analyzed will affect stakeholders or geographically dispersed groups, be sure to outline it in advance to avoid surprises. Conversely, if the scope of the project or initiative can be extended beyond the intended geographical parameters, this should also be taken into account.

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Now that you have your framework in place, it’s time to sort your costs and benefits into buckets by type. The main categories that costs and benefits fall into are direct/indirect, tangible/intangible, and tangible:

Now that you’ve developed the categories into which you’ll allocate your costs and benefits, it’s time to look at the numbers.

With frameworks and categories, you can begin to describe common costs and benefits. As mentioned earlier, it is important to consider both the short and long term, so make sure you develop your projections based on the life of the program or initiative and see how the costs and benefits will change gradually.

Economic Analysis Template

Tip: People often make the mistake of miscalculating costs and benefits, and thus end up with wrong results. When calculating future costs and benefits, always make sure to adjust the numbers and convert them to present value.

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Here we determine the net present values ​​by subtracting the costs from the benefits and plot the time it takes to pay back the costs, known as the return on investment (ROI).

The process does not end there. In some cases, it is important to address any serious concerns that may affect implementation from a legal or social justice perspective. In such cases, a “with/without” comparison may be useful to identify potential areas of concern.

The impact of the initiative can be sharply focused through a basic “with/without” comparison. In other words, here we see how it will affect organizations, stakeholders or users, with and without this initiative.

Thayer Watkins, who taught a course on cost-benefit analysis during his 30-year career as a professor in San Jose State University’s economics department, offers this example of a “with/without” comparison:

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“The impact of the project is the difference between how the situation in the study area would be with the project and without the project. Therefore, when evaluating a project, the analysis should not only estimate what the situation would be like with the project, but also how it would be without the project. For example, when determining the impact of a guided rapid transit system, such as Bay Area Rapid Transit (BART) in the San Francisco Bay Area, the number of trips made during the expansion of the bus system must be calculated from the trips provided by BART . , in addition to the additional costs, such an expanded bus system would remove BART’s costs. In other words, the project alternative should be clearly defined and discussed in the project assessment.

In the home part of the cost-benefit analysis, you look at the results of your work and provide a basis for making your decision.

Dr. recommends Kaplan performed a sensitivity analysis (also known as a “what-if”) to predict outcomes and test accuracy across a set of variables. “Information about costs, benefits and risks is rarely given with certainty, especially when there is

Economic Analysis Template

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