kustannushyötylaskentaa

Kustannushyötylaskentaa, often translated as cost-benefit analysis (CBA), is a systematic process used to evaluate the desirability of a project, decision, or policy by comparing its total expected costs against its total expected benefits. The goal is to determine whether the benefits outweigh the costs, and by how much. This method is widely applied in various fields, including economics, public policy, business management, and engineering.

The core principle of CBA is to quantify all relevant costs and benefits in monetary terms whenever possible. This allows for a direct comparison and calculation of metrics such as the net present value (NPV), benefit-cost ratio (BCR), or internal rate of return (IRR). Costs typically include direct expenses, such as labor and materials, as well as indirect costs, like environmental impact or opportunity costs. Benefits encompass increased revenue, improved efficiency, enhanced social welfare, or environmental improvements.

When direct monetary valuation is difficult, various techniques are employed. For instance, shadow pricing or contingent valuation methods can be used to estimate the monetary worth of non-market goods and services, such as clean air or public health improvements. Sensitivity analysis is often performed to assess how changes in key assumptions or variables affect the outcome of the analysis.

CBA provides a structured framework for decision-making, promoting transparency and accountability. It helps identify the most efficient allocation of resources by highlighting options that yield the greatest net benefit. However, it's important to acknowledge the limitations, such as the subjectivity in assigning monetary values and the potential for overlooking intangible factors. Despite these challenges, cost-benefit analysis remains a valuable tool for informed and rational decision-making.