Cost Benefit Analysis

Topics: Decision theory, Project management, Risk, Decision making, Decision making software, Welfare economics / Pages: 10 (2359 words) / Published: Apr 24th, 2013
Cost Benefit Analysis: New Orleans Sleeves Project

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Cost Benefit Analysis: New Orleans Sleeves Project Decision environment often experience dynamics and swings which create short and long term effect on chances of survival for two alternatives to solve a problem. When faced with a decision dilemma that requires critical assessments, analysis resorts to analytical tools that ensure competitive positioning advantage. However, there must be a clear justification for the decision through review of benefits and projected results of suggested decision. Thus, this reflective treatise attempts to explicitly review the cost and benefits of rebuilding the sleeves protecting New Orleans. Besides, the paper provides a justification for the decision to either rebuild the sleeves in New Orleans or not. In addition, the treatise presents quantifiable benefits against the costs incurred in making such critical decisions.
Part A: Cost Benefit Analysis of Rebuilding Sleeves in New Orleans Rebuilding the sleeves in New Orleans has its merits and demerits. As a matter of fact, the project is likely to cost 14 billion dollars after every a hundred years besides the eighty five billion dollars for rebuilding the city. This estimation is informed by the probability of hurricanes destroying the city after every 100 years. In making the decision to either rebuild the sleeves in the city of New Orleans, it is critical to review the benefits of the interested constituencies such as the city residents, the residents of those surrounding the city, the federal government, and the Mayor of the city. Stakeholders are individuals, groups or organisations with a stake/claim in a project’s outcome. Generally, not all stakeholders will have the same objectives and motivations for a project. The first process of managing stakeholders is to identify them.
New Orleans City Residents The city of New Orleans



References: Hallegatte, S. (2006). A cost-benefit analysis of the New Orleans flood protection system. Center for Environmental Sciences and Policy. Retrieved from https://hal.cirad.fr/docs/00/16/46/28/PDF/Hallegatte_NewOrleans_CBA9 MacKay, B., & McKiernan, P. (2004). The role of hindsight in foresight: refining strategic reasoning, Futures, (36):161-179. Vastag, B., & Rein, L. (2011, May 11). In Louisiana, a choice between two floods. Retrieved from https://www.washingtonpost.com/national/in-louisiana-a-choice-between-two- floods/2011/05/11/AFrjFotG_story.html

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