Cost-Benefit Analysis (CBA) is a decision-making process used to compare the comparative efficiency of competing projects over their lifetime.
At a glance
- Duration5 days
- LocationCranfield campus
- Cost£1,400 Concessions available
Course structure
Half of this five-day course is delivered through a class-room based exercise looking at the financial and societal (economic) benefits and cost of a woodland establishment project. The other half of the course is delivered through lectures and seminars from Cranfield University staff and external speakers.What you will learn
On successful completion of this module the student will be able to:
- Demonstrate an understanding of and differences between equity and efficiency,
- Demonstrate an understanding of the role that equity and efficiency play in policy making and the trade-offs involved,
- Critically evaluate different measures of welfare changes with respect to the environment,
- Demonstrate a systematic understanding of cost-benefit analysis,
- Demonstrate an understanding of cost-benefit analysis through the application of the principles to an case study application.
Core content
- Pareto optimality in a market economy,
- The compensation principle and the social welfare function,
- Principles and practice of cost-benefit analysis,
- Financial appraisal,
- Extended cost-benefit analysis,
- Risk and uncertainty,
- Case study applications of cost-benefit analysis.
Timetable
Day | Monday | Tuesday | Wednesday | Thursday | Friday |
---|---|---|---|---|---|
09.00 - 10.30 | Introduction to course Market Efficiency
|
Cost Benefit Analysis practical | Financial appraisal: an example | Sensitivity analysis | Assignment (Phase 2 and 3) workshop |
10.30 - 11.00 | Break | Break | Break | Break | Break |
11.00 - 12.30 |
Market failure and the role of cost benefit analysis |
Cost Benefit Analysis practical
|
Financial appraisal: an example |
Sensitivity analysis |
Cost benefit analysis in practice |
12.30 - 14.00 | Lunch | Lunch | Lunch | Lunch | Lunch |
2.00 - 3.00 |
Cost Benefit Analysis practical
|
Cost Benefit Analysis practical |
Private study |
Monte Carlo simulation |
Cost Effectiveness Analysis |
15.00 - 15.30 | Break | Break | Break | Break | Break |
3.30 - 5.00 |
Cost Benefit Analysis practical
|
Cost Benefit Analysis practical
|
Private study |
Monte Carlo Simulation |
Private study – continue to work on assignment |
Upgrade to a professional qualification
Cranfield credits are available for this short course which you can put towards selected Cranfield degrees. Find out more about short course credit points.Speakers
Dr Paul Burgess - ReaderConcessions
20% discount for Cranfield alumni, 10% discount for colleagues of alumni
£1,340 - Professional/trade association discount
£1,280 - Multiple bookings*
* Minimum of 5 delegates
Accommodation options and prices
This is a non-residential course. If you would like to book accommodation on campus, please contact Mitchell Hall or Cranfield Management Development Centre directly. Further information regarding our accommodation on campus can be found here.
Alternatively you may wish to make your own arrangements at a nearby hotel.
Location and travel
Cranfield University is situated in Bedfordshire close to the border with Buckinghamshire. The University is located almost midway between the towns of Bedford and Milton Keynes and is conveniently situated between junctions 13 and 14 of the M1.
London Luton, Stansted and Heathrow airports are 30, 90 and 90 minutes respectively by car, offering superb connections to and from just about anywhere in the world.
Location address
Cranfield University
College Road
Cranfield
Bedford
MK43 0AL
Read our Professional development (CPD) booking conditions.