Question

provide introduction on the topic Cost-Benefit Analysis – Why it is necessary for PICs for Accountability

Answer 1

Cost profit analysis is additionally referred to as profit analysis could be a symmeytric approch to estimating the strengths and weakness of alternatives accustomed confirm choices which offer the most effective approch to achieving edges whereas conserving savings

A cost benfit analysis is employed to match completed or potential courses of actions or to estimate the worth against the value of a choice, project or policy. it's usually utilized in industrial transactions, business or policy selections and project investments.

It is necessary because:-
• If associate investment is sound , asceratining if - and by what quantity , its edges overweigh its price.
• to supply a basis for comparison investments comparison the full expected price of every possibility with its total expected edges.

We can take example of Republic of Fiji as :-
A cost profit study was conducted on disaster risk reduction ( Adaptation) measures for flooding within the Ba watercourse construction in island, Fiji. It outlined the foremost economically effective adaptation possibility for communities and households against flooding - The analysis accounted for the biophysical and socioeconomic impacts of flooding , the costs, benfits , and practicability and also the potential effects of temperature change.