Cost-Benefit Analysis Training Course
Mar 16 2017

Cost-Benefit Analysis Training Course

Central Location, London
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A cost benefit analysis is an invaluable tool for assessing the financial, social and economic impact of large-scale projects. While many organisations are used to the concept of CBA as a result of regulation or applications for funding, the finer details of realistic models and successful execution have often been missed.

By attending this course you will learn all you need to know about cost-benefit analyses, including how to deal with risk and uncertainty and how to quantify and compare different types of information. You will leave the course with the tools and skills to improve your organisation’s approach, methods and processes, ultimately leading to cost benefit-analyses that better reflect the likely outcomes. .

Key benefits of attending include:

  • An understanding of the basic principles of cost-benefit analysis
  • Insights into how to quantify costs and benefits
  • Expertise in dealing with risk and uncertainty
  • Hands-on practice at building a simple cost benefit model
  • Knowledge of how to value non-market impacts

Your trainers

Dermot Glynn is a member of the Competition Appeal Tribunal and the Chairman of Europe Economics. He has overseen the successful execution of a wide range of projects for a variety of utility and other regulatory clients, both public and private sector. Earlier in his career, Dermot spent time as Managing Director of another economics consultancy, Chief Economist at the accountancy firm KPMG, and Economic Director at the Confederation of British Industry.
Stephen Topping is a Managing Consultant who has led many of Europe Economics’ utility regulation projects. He has over 10 years’ experience advising clients across a range of utilities sectors, including clients in the energy, water, airports and telecoms sectors. He has advised on many aspects of utility regulation, including the design of regulatory, frameworks, cost of capital and comparative efficiency. He has worked on secondment within the OFT and Ofcom.


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Thursday, 16th March 2017

Introduction to the course
  • Objectives of the training course
  • Programme and format for the day
Introduction to cost-benefit analysis
  • Aim of cost-benefit analysis
  • Importance to policy-makers and link to Impact Assessment
  • Importance to regulated utilities and infrastructure investment
  • Ex ante and ex post cost-benefit analysis
  • Guidance documents (including Treasury Green Book)
Basic issues in cost-benefit analysis
  • Defining the baseline
  • Identifying costs and benefits
  • Transfers and distributional impacts
  • Using market prices to value impacts
  • Taking account of inflation and relative price changes
  • Discounting
    • How to discount future impacts
    • What discount rate to use
How to deal with risk and uncertainty
  • The importance of thinking about risk and uncertainty
  • Scenario and sensitivity analysis
  • Monte Carlo analysis
  • Real options
Interactive break-out session: building a simple cost-benefit model

In this session, delegates will break into smaller groups to work on an interactive case study involving the building of a simple cost benefit model for an infrastructure investment project. 

In more detail: how to quantify costs and benefits
  • Challenges in quantifying costs and benefits
  • Methods of collecting data and analysing impacts
    • Stakeholder engagement
    • Market research
    • Behavioural experiments
    • Statistical analysis
    • Case studies
    • Modelling
  • Assessing the additionality of impacts
  • Adjusting for optimism bias
How to value non-market impacts
  • Why non-market impacts are important
  • Techniques for valuing non-market impacts
    • Using existing valuations
    • Stated preference
    • Revealed preference
  • Examples of how to value non-market impacts
    • Time savings
    • Carbon impacts
    • Other environmental impacts (e.g. noise, amenity)
    • Health impacts
    • Safety impacts
Interactive break-out session: valuing carbon impacts

Breaking into small groups, delegates will be given an interactive exercise relating to valuing the carbon impacts of a policy proposal

Summary and conclusions
  • Brief summary of what has been learned during day
  • Final opportunity to ask questions
End of course

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£795.00 + VAT Until 03/02/17
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