APPLICATIONS
Multi-Criteria Analysis in Cost-Benefit Analysis
Cost-Benefit Analysis (CBA) is a widely used approach for evaluating the economic feasibility of different projects or policies.
While CBA is powerful, it often focuses solely on financial metrics, potentially overlooking other important factors.
D-Sight specializes in integrating multi-criteria analysis (MCA) with CBA to offer a more holistic and nuanced approach to decision-making.
Why Use Multi-Criteria Analysis in Cost-Benefit Analysis?
Cost-Benefit Analysis is a valuable tool, but it has its limitations, primarily its focus on monetary aspects. Multi-Criteria Analysis (MCA) complements CBA by incorporating additional dimensions into the evaluation process, making it more comprehensive and robust.
Holistic Evaluation
MCA enriches CBA by allowing for the simultaneous evaluation of multiple criteria, such as social impact, environmental sustainability, and long-term viability. This ensures a more comprehensive understanding of the project’s benefits and costs, beyond just financial metrics.
Stakeholder Inclusion
Different stakeholders may have different priorities and perspectives on what constitutes a ‘benefit’ or a ‘cost.’ MCA allows for the inclusion of these diverse viewpoints, making the decision-making process more democratic and transparent.
Flexibility and Adaptability
Market conditions, stakeholder preferences, and project scopes can change. MCA offers the flexibility to adapt the evaluation criteria to reflect these changes, ensuring that your Cost-Benefit Analysis remains relevant and robust.
Quantitative and Qualitative Analysis
MCA can incorporate both quantitative financial data and qualitative factors like social or environmental impact, providing a more nuanced and comprehensive evaluation.
How D-Sight Supports MCA in Cost-Benefit Analysis
Advanced Analytical Tools
D-Sight offers advanced analytical tools that can seamlessly integrate with your existing CBA models, adding layers of complexity and nuance to your evaluations.
Interactive Simulations
Our software allows for interactive simulations that can model different scenarios, helping you visualize the various costs and benefits associated with each option.
Decision Aid Consulting
Our team of experts can guide you through the complexities of combining MCA with CBA, offering customized solutions tailored to your specific challenges and objectives.
Case Studies
Explore real-world examples of how D-Sight’s multi-criteria analysis has been successfully applied.
Read more case studies
Get Started with D-Sight for Cost-Benefit Analysis
Ready to take your Cost-Benefit Analysis to the next level with Multi-Criteria Analysis? Contact us now to learn more or to schedule a consultation.