Proforma F for Oxford

Tasks to be completed Elaboration/Rationale Oxford example
Assess any costs and benefits that the above analysis does not take into account. Make a judgement as to how large these are likely to be: could they be “decision changers”. If so, consider a full MCA analysis. The simple CBA test may miss out aspects that are crucial to making a sensible decision. These need to be listed and evaluated, even qualitatively if quantification is not possible. 1.     Ecosystem services changes2.     Recreation benefits/changes

3.     Intangible human losses (health; trauma; etc)

4.     Oxford’s reputation as a “world city”

5.     Oxford’s reputation as a “open for business” (i.e. the economy not disturbed by flooding)

 

“1” and “2” not ‘decision changers’. Others are important.

Draw conclusions as to the economic efficiency of each proposed intervention  Efficiency is measured as outputs compared with inputs, and is the basic and fundamental aim of CBA: to assess this comparison. The Incremental BCR measures the gain in benefits from successive increases in costs, and normally should be significantly over 1.0 for that option to be retained. Based on the Incremental Benefit Cost ratio, Option “5” is efficient. But others show a great return on the (far) lesser sums expended (e.g. Option 3).
Draw conclusions as to the sustainability of each proposed intervention  [Text not yet available] Not yet considered.
Make recommendations as to which intervention to pursue further with (a)  public consultations etc and (b) detailed design [Text not yet available] Not yet considered.
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