Table of Contents
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1.0 Purpose of the Guide
2.0 Role of Benefit-Cost Analysis
3.0 Organization of the Guide
PART I - THE EVALUATION FRAMEWORK
4.0 Option Identification
4.1 Introduction
4.2 Stating the Problem or Opportunity
4.3 Identifying Options
4.3.1 The Base Case Option
4.3.2 Other Options
4.4 Screening Options
4.5 Summary
5.0 A Common Frame for Comparison
5.1 Introduction
5.2 Self-Standing Options
5.3 Identification and Quantification
of Benefits and Costs
5.4 Timeframe
5.5 Level of Effort
5.6 Designing the BCA Model
5.7 Summary
PART II - MEASUREMENT OF COSTS AND
EFFECTS
6.0 Project-Related Costs
6.1 Introduction
6.2 Costing Principles
6.3 Incremental Costs
6.3.1 Sunk Costs
6.3.2 Depreciation Allowance
6.3.3 Interest Expense
6.4 Project Independance
6.5 Opportunity Costs
6.6 Measuring Project-Related Costs
6.6.1 Planning Phase
6.6.2 Construction/Development
Phase
6.6.3 Operational Phase
6.6.4 Post Forecast Phase
6.7 Life-Cycle Cost Analysis
6.8 Summary
7.0 Benefits and Other Effects of
Projects
7.1 Introduction
7.2 Measurement Principles
7.2.1 Willingness to Pay
7.3 Benefits
7.3.1 Safety Benefits
7.3.2 Transportation Efficiency
Benefits:
- Passenger Travel-Time Savings
- Small Travel-Time Savings
- Cargo Transit-Time Savings
- Congestion
- Operating Costs Savings
- Benefits to Non-Canadians
- Generated and Diverted Traffic
- Benefits from Concessions
7.3.3 Productivity Gains
7.4 Conditional Benefits
7.5 Environmental Effects
7.5.1 Measurement of Environmental
Effects:
- Commercial Losses
- Property Value and Damage
- Abatement and Cleanup Costs
- Habitat Loss
- Health Risks
7.6 Transitional Effects
7.7 Exclusion of Economic Impacts
7.8 Summary
8.0 Discounting
8.1 Introduction
8.2 Inflation
8.3 Why Discount?
8.4 Discounting Arithmetic
8.5 Discount Rate
8.6 Discounting Conventions
8.6.1 Timing of Benefits
and Costs
8.6.2 Calendar of Fiscal
Year
8.6.3 Base Year
8.6.4 Choosing a Timeframe
8.7 Impact of Timing
8.8 Summary
PART III - ANALYSIS AND PRESENTATION
OF RESULTS
9.0 Evaluation of Options
9.1 Introduction
9.2 Investment Criteria
9.3 Illustrative Evaluation of Options
9.4 Dealing with Uncertainty
9.4.1 Sensitivity Analysis
9.4.2 Assessing Option Risk
9.4.3 Probability Analysis
9.5 Cost-Based Comparisons of Options
9.5.1 Dealing with Unquantifiable
Effects
9.5.2 Least-Cost Analysis
9.6 Presentation of Results
9.7 Summary
10.0 Structure of a BCA Report
PART IV - FINAL SUMMARY
Appendix A - Illustrative Applications
of Benefit-Cost Analysis
Appendix B - Table of Discount Values
Appendix C - Suggested References
Appendix D - Acronyms
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