cost-benefit analysis

A procedure for estimating all costs involved and possible profits (benefits) to be derived from a business or development opportunity or proposal.

A technique designed to determine the feasibility of a project or plan by quantifying its costs and benefits.

an analytical tool for judging the economic advantages or disadvantages of an investment decision by assessing its costs and benefits in order to assess the welfare change attributable to it. The analytical framework of CBA refers to a list of underlying concepts which is as follows: opportunity cost, long-term perspective, calculation of economic performance indicators expressed in monetary terms, microeconomic approach, incremental approach