Module A4 - Understanding Social Cost-Benefit Analysis (1 day 9:00 am - 5:00 pm )
The purpose of this module is for participants to develop a basic understanding of cost-benefit analysis (CBA) techniques within social services contexts, sufficient to appreciate its potential uses and limitations. The module will also introduce participants to Social Return on Investment (SROI) analysis as a particular CBA method which is applied specifically for projects with mainly social, non-monetary costs and benefits.
On completing this module, participants will be able to:
- Understand the rationale for CBA, key conceptual and introductory economics principles underlying CBA, and how CBA can assist the policy and project decision - making process
- Appreciate basic processes and methods involved in undertaking a CBA
- Discuss the rationale and need for the valuation and incorporation of non -monetary costs and benefits, including those of a social and/or intangible nature
- Appreciate Social Return on Investment (SROI) as a particular variant of CBA used to appraise projects with mainly social and intangible impacts and benefits, and Social Impact Analysis (SIA) as prescribed by Queensland Government
- Describe the limitations of CBA, its appropriate use in the decision-making process, and caveats in interpretation of results