Kustannushyötylaskenta

Kustannushyötylaskenta, often translated as Cost-Benefit Analysis (CBA), is a systematic approach used to evaluate the desirability of a project or policy by comparing its expected costs with its expected benefits. The primary goal is to determine whether the anticipated gains outweigh the anticipated expenses. This analytical framework is widely applied in various fields, including economics, public policy, environmental management, and business decision-making.

The process typically involves identifying all relevant costs and benefits, assigning a monetary value to each, and then comparing the total benefits to the total costs. Costs can include direct expenses, such as labor and materials, as well as indirect costs, like environmental impact or social disruption. Benefits can encompass financial gains, increased efficiency, improved public welfare, or enhanced environmental quality. Often, a discount rate is applied to future costs and benefits to account for the time value of money, meaning that money received or spent in the future is considered less valuable than money received or spent today.

Different metrics can be used to present the results of a CBA, such as the net present value (NPV), which is the difference between the present value of benefits and the present value of costs, or the benefit-cost ratio (BCR), which is the ratio of the present value of benefits to the present value of costs. A positive NPV or a BCR greater than one generally indicates that the project or policy is economically worthwhile. While CBA provides a structured method for decision-making, it is important to acknowledge its limitations, including the inherent difficulty in quantifying certain costs and benefits and the reliance on assumptions about the future.