Question

Your local public health department is considering expanding its free vaccination services to reach more of the population, particularly underserved populations that are currently vaccinated at lower rates. You have been tasked with completing a cost-benefit analysis. Which benefits and costs would you include? How would you measure them?

Answer 1

What Is a Cost-Benefit Analysis?

A cost-benefit analysis is a process businesses use to analyze decisions. The business or analyst sums the benefits of a situation or action and then subtracts the costs associated with taking that action. Some consultants or analysts also build models to assign a dollar value on intangible items, such as the benefits and costs associated with living in a certain town.

WHAT IS COST?

An amount that has to be paid or given up in order to get something.In business, cost is usually a monetary valuation of (1) effort, (2) material, (3) resources, (4) time and utilities consumed, (5) risks incurred, and (6) opportunity forgone in production and delivery of a good or service. All expenses are costs, but not all costs (such as those incurred in acquisition of an income-generating asset) are expenses.

What is Benefit

General: Advantage, privilege, right, or financial reimbursement (such as that made under an insurance policy, medical plan, or pension plan).

Finance: Desirable and measurable outcome or result from an action, investment, project, resource, or technology.

Marketing: Desirable attribute of a good or service, which a customer perceives he or she will get from purchasing. Whereas vendors sell features ("high speed drill bit with tungsten-carbide tip"), buyers seek the benefit (the holes).

In given scenario, We can compared Cost and Benifit For the case of vaccination,

Cost

1.Medicine Cost

2.cost that associated with human resources.

3.Cost that relating to Transportation

4.Other minor parts:

Benifit

1.Government Grants

2. There is no other direct benifit

Notional benifit associated within its,such as Increasing the value of the organization in the company to community by providing charitable services to unreserved population.

How to measure?

1. monetary grants can be measured.

2.costs that associated with this can be measured using General Book Keeping and accounting Procedures

3.Notional benefits can't be measured.