Thread: cost/benefit calculation?
03-14-2007, 02:58 PM #1
- Join Date
- Jun 2005
- Sherman NY USA
Am I close with this calculation?
Avg. number of fire calls for the last 4 years =33 times the life of SCBA 10 years = 310 total calls divided by the total project cost $ 60,000.00 = yearly cost/benefit of $ 193.55 and per citizen benefit of $ 11.71?
03-14-2007, 04:02 PM #2
- Join Date
- Feb 2007
- In my house
To get the cost benefit ratio you need the cost of the project as well as the cost of what will be saved. However, in this case most of your benefits are intangible benefits. In this case you need to perform a qualitative analysis vs. a quantitative one.
In many cases, the cost benfit ration will compare doing business the current way vs. doing it a new way.
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