What is a cost-benefit analysis and what costs and benefits are included in the cost-benefit analysis of each scenario?
Cost-benefit analysis is a financial tool used to inform decision-making. It compares the short-term and long-term benefits of a particular scenario to its short-term and long-term costs to identify the scenario with the greatest net benefit to the City. Cost-benefit analysis includes both capital and operating costs and savings, as well as other financial, environmental and social impacts associated with each scenario. Cost-benefit analysis will be used in the studies to inform the recommendations being made by the consulting team.
