Cost-Benefit Analysis (CBA)

Cost-Benefit Analysis (CBA) is a systematic approach used to evaluate the advantages and disadvantages of a decision or project. It involves listing all the costs (money, time, resources) and benefits (gains, savings, improvements) associated with it. By comparing these costs and benefits, CBA helps determine whether a project is worthwhile. If the benefits outweigh the costs, it’s generally considered a good investment. It’s commonly used in business, public policy, and environmental decisions to ensure that resources are allocated efficiently and effectively for the greatest overall benefit.