Decision-making is huge part of our everyday lives. Some decisions feel almost automatic, others require immense consideration. We understand how challenging decision-making can be.
NineSquared’s mission is to help our clients make great decisions that make people and places better. We do this by using economics and data to give them the knowledge and insights they need to make decisions with confidence.
We have created a short non-technical guide that explains how cost-benefit analysis (CBA) can be used for decision making. The guide explains what CBA is, how it can be used and the key components of undertaking a CBA. It explains how to interpret CBA results, and some pitfalls you should look out for when undertaking a CBA. The guide also briefly outlines other economic analysis techniques such as Cost-Effectiveness Analysis (CEA).
Not everyone is an economist. The guide is aimed at anyone who needs to know more about tools and techniques for comparing options and making decisions about projects and policies. It can be read by anyone from a senior executive with limited background in economics or direct experience in undertaking a CBA, to a junior team member who is new to project planning. We hope the guide gives you a good understanding of how CBA works, and helps you to make great decisions.