Why use Cost Benefit Analysis?
The use of Cost Benefit Analysis supports businesses in gathering information around cost effectiveness, efficiency savings, value for money and return on investment. This helps to create a rationale for a project, intervention, or change in method.
The Social Profit Calculator streamlines all relevant data into a flexible tool, giving you the ability to forecast several outcomes related to fiscal savings and wider economic benefits. Using information from the HM Treasury Unit Cost Database to assess outcomes and measure impact, it can be tailored to include your own impact and value against Cost Benefit outcomes.
The Cost Benefit Analysis tool is built with over 1,000 fiscal and economic savings which can be applied to savings to public spending and the benefits to the wider economy. Public Sector Reform has meant that the use of Cost Benefit Analysis is becoming more popular, as the outsourcing of public services grows. The Private and Third Sectors can use Cost Benefit Analysis to deliver projects and services, helping them to maximise fiscal and economic impact and value.