Cost Benefit Analysis - The World Needs Better Decision Makers!

A quick explanation and why it is important:

Cost Benefit Analysis "is ...the process of weighing the total expected costs against the total expected benefits of one or more actions in order to choose the best or most profitable option." Source: http://en.wikipedia.org/wiki/C…

If you can propose and implement a feasible way to do something with less inputs than is currently the case, then you have made a saving of resources. Agreed? If you could allocate government funds to a more economically viable program than is currently the case, then the country has made a saving in resources since more benefits are produced for the same inputs. Correct?

If a saving of resources is made then the company or the community, the country and the world are all a little better off.

Cost Benefit Analysis is the tested, proven tool used around the world by governments and big business for funding allocations and investment decisions.

Think of the situations where this could be used - any repair or replace asset decision in any company around the world, as one example. If just this one process alone were implemented worldwide by how much would we all benefit?

What if all aid agencies and charities were able to make their funds go further by implementing this process? How many more folks would receive help? How many countries would benefit?

Cost Benefit Analysis is hard at work in many, many situations. From influenza vaccines of health adults to mass spectrometry (MS/MS) screening of newborns for inborn errors of metabolism to fish welfare to deciding how much to spend to rehabilitate the damage caused by hurricane Katrina.

Cost Benefit Analysis is a powerful, yet simple to use tool that could be used worldwide to make better financial choices and create more net benefits for us all.

I believe that this process should be used a lot more extensively in small to medium businesses, not for profits and government agencies. I think there are millions who could benefit from knowing about it and using it.

There are millions of references to Cost Benefit Analysis in Google. Some of the popular ones are:
http://www.progressiveregulati… http://www.whitehouse.gov/omb/… http://www.becker-posner-blog.… http://www.cato.org/pubs/regul…

My goal is to spread this message of Cost Benefit Analysis worldwide through my website http://www.thecostbenefitcoach…. There you can find free articles devoted to learning about Cost Benefit Analysis.