Benefit-Cost Analysis

Benefit-Cost Analysis (BCA) is a systematic approach used to evaluate the economic worth of a project or decision. It involves comparing the total expected benefits of an action to its total expected costs. If the benefits outweigh the costs, the project is considered viable and worthwhile. BCA helps decision-makers assess options by quantifying impacts, often expressed in monetary terms, making it easier to choose the best course of action. It's commonly used in public policy, infrastructure projects, and business investments to ensure resources are allocated effectively and efficiently.