Social challenge/ impact linked to:

Level of importance

1 - High Importance / must have

Description

Indicators of Cost-Benefit Analysis of the Intervention subcriterion will assess the financial feasibility of the project scenario.

Avoided costs are essentially the costs of the damages, which a catastrophic event could provoke without the expected intervention.

+ It is a frequently used benefit estimation technique, both because it is a common-sense approach and because the information needed to assess avoided costs is often readily
achievable. - It could be very time consuming since many different models should be implemented to assess the expected damages.

Scale as linked to D2.2 framework

• Project Area

Data source and input type

• technical stakeholder can contribute to the provision of data needed for the estimation of the expected damages.

Connection with SDGs

• Goal 12: Responsible consumption and production

Required Data

• Different type of data (spatial data, models, parametric costs, etc.), depending on the hazardous phenomenon taken into account.

Expected Outputs

• €

Calculation methods

• The avoided costs method estimates the cost that the community would incur in the absence of project scenario implementation. Given that NBS could prevent multiple risks, the avoided costs is equal to the sum of costs associated with responding to each risk faced by NBS. Thus, for each hazardous phenomenon regarding the study area, it is essential to assess the expected damages and the cost of actions taken in response to the phenomenon after it occurs.

Level of expertise required

• High

Links and references

• U.S. Environmental Protection Agency (1993), A Guide for Costeffectiveness and Cost-benefit Analysis of State and Local Ground Water Protection Programs.